http://www.youtube.com/watch?v=xFOUqurUgFk
http://www.nakedcapitalism.com/2011/03/a-reason-to-stop-banking-with-wells-fargo.html
Excerpt:
Wells Fargo has an interesting corporate policy, and by “interesting” I mean to say “bordering on the criminally fraudulent.” If you have a regular checking account at Wells Fargo, and file for bankruptcy, the bank will freeze your assets — even if you don’t owe them a dime.Think on that for a second….. You’ve never bounced a check in your life and have never borrowed money from Wells Fargo, not a credit card, not a mortgage, nothing.But you fall behind on your debts and…you decide your best option is to file for Chapter 7 and get a fresh start. You list a Wells Fargo checking account on Schedule B as an asset, as you’re required to do by federal law, and provide the address of the bank branch and account number.A week after filing, you go to the ATM but the machine eats your card. You go inside and ask the teller what’s going on, and he says “Sorry, your account’s been frozen.” You ask to speak to the manager, who looks at the same computer screen and also says it’s frozen.How do you get it unfrozen? How do you not default on your car and mortgage and power bill? According to Wells Fargo’s national policy, they will only release these funds if the bankruptcy trustee appointed in your case asks them to, or if they’re ordered to do so by the court. Which takes at least a month.My advice to every single one of my clients is to take that money out of Wells Fargo immediately and park it at another bank or credit union where you don’t have any loans or credit cards.
Update 5:30 AM: Reader JoJo in comments confirms my suspicions. This story comes from ABC,
“Bank confusion turns into $10,000 problem”
“Bank confusion turns into $10,000 problem”
PETALUMA, Calif. (KGO) — The common banking practice of making a deposit turned into a $10,000 nightmare for a Bay Area man and his daughter. Their money disappeared.Myron Hinrich of Petaluma helps support his daughter, Anne, while she studies film-making at USC.“She’s struggling in graduate school; she needed to make a rent payment,” Hinrich said.Anne was low on cash so Hinrich deposited a $10,000 check into Anne’s account at Wells Fargo Bank. However, what happened after that came as a complete shock.“They said the check was fraudulent, they canceled the account and they didn’t want to see her again,” Hinrich said.Wells Fargo refused to give Anne the $10,000. Instead, the bank abruptly closed her account and told her to go away. The only explanation? The bank claimed the check was a fraud.
It gets worse. Wells refused to return the money to her father….
"I didn't know what to think, I didn't' know why they would think it's fraudulent," Hinrich said.
Indeed, it made no sense. The check had already been cashed by Wells Fargo the day it was written and the money had been taken out of Hinrich's account.
"It's the strangest thing I've ever seen, you couldn't find anybody to talk to," Hinrich said.
Wells Fargo would not even speak with Hinrich about what happened, citing privacy laws. The bank also would not speak with Anne, saying her account no longer existed.
"It was a Catch 22; I can't get the money because I don't have an account with them and my daughter can't get the money because they closed her account," Hinrich said.
The way Hinrich saw it, his money had been stolen. So he reported it to the federal comptroller of currency, which makes sure banks obey the law.
"That didn't work either; they accepted Wells Fargo's letter saying I didn't have an account with them therefore they couldn't help me," Hinrich said.
The federal agency closed the case. No one would listen.
"This is $10,000 we're talking here, so that's when I had the idea to call 7 On Your Side," Hinrich said.
7 On Your Side showed all the documents to Wells Fargo and requested the bank deliver a check to Hinrich's daughter in Los Angeles right away.
"She went into the bank and said she wasn't going to leave until she had the $10,000," Hinrich said.
Myron says his daughter sat in the bank in Los Angeles for two hours until finally the check was in her hand.
Wells Fargo says it only needed a letter of indemnity from Westamerica Bank stating the check was valid. Once Hinrich provided that letter, the bank returned the money to the family.
Wells Fargo did not explain why the check was deemed fraudulent in the first place and still cannot explain how it could take $10,000 out of Hinrich's account nearly a year ago, yet still question the validity of the check. The bank claimed it had been holding the money in a separate account all this time, which was news to Hinrich.
The comptroller of the currency declined to comment about its role in closing the case.
"I didn't know what to think, I didn't' know why they would think it's fraudulent," Hinrich said.
Indeed, it made no sense. The check had already been cashed by Wells Fargo the day it was written and the money had been taken out of Hinrich's account.
"It's the strangest thing I've ever seen, you couldn't find anybody to talk to," Hinrich said.
Wells Fargo would not even speak with Hinrich about what happened, citing privacy laws. The bank also would not speak with Anne, saying her account no longer existed.
"It was a Catch 22; I can't get the money because I don't have an account with them and my daughter can't get the money because they closed her account," Hinrich said.
The way Hinrich saw it, his money had been stolen. So he reported it to the federal comptroller of currency, which makes sure banks obey the law.
"That didn't work either; they accepted Wells Fargo's letter saying I didn't have an account with them therefore they couldn't help me," Hinrich said.
The federal agency closed the case. No one would listen.
"This is $10,000 we're talking here, so that's when I had the idea to call 7 On Your Side," Hinrich said.
7 On Your Side showed all the documents to Wells Fargo and requested the bank deliver a check to Hinrich's daughter in Los Angeles right away.
"She went into the bank and said she wasn't going to leave until she had the $10,000," Hinrich said.
Myron says his daughter sat in the bank in Los Angeles for two hours until finally the check was in her hand.
Wells Fargo says it only needed a letter of indemnity from Westamerica Bank stating the check was valid. Once Hinrich provided that letter, the bank returned the money to the family.
Wells Fargo did not explain why the check was deemed fraudulent in the first place and still cannot explain how it could take $10,000 out of Hinrich's account nearly a year ago, yet still question the validity of the check. The bank claimed it had been holding the money in a separate account all this time, which was news to Hinrich.
The comptroller of the currency declined to comment about its role in closing the case.
http://blogs.forbes.com/richdanker/2011/03/11/utah-signals-dollar-distress/
Excerpt:
Image via Wikipedia
Two-thousand miles away from Washington, Utah sent a strong message yesterday that the nation’s monetary system is dysfunctional. A bill authorizing gold and silver as legal tender passed the statehouse and with the governor’s signature will become law. This pushback against the Federal Reserve was truly a bottom-up effort, initiated by a group of activists and two freshman legislators keenly aware that the debt-based dollar is a significant drag on the U.S. economy. And it paves the way for more grassroots efforts to challenge the status quo and Ben Bernanke, something previously unthinkable.
In addition to recognizing gold and silver coins as money, the Utah Sound Money Act provides a credit against their capital gains tax liability and instructs a legislative committee to study the establishment of an alternative legal tender system in the state. This legislation is not only a response to the decline of the dollar, but also rooted in the founders’ idea about money which was inscribed in Article I, Section 10 of the Constitution: no state shall “make any thing but gold and silver coin a tender in payment of debts.”The federal government abided by this for most of the nation’s history, using hard money in one form or another. The last breaking point was Richard Nixon’s 1971’s measure to suspend the international convertibility of the dollar to gold, a move of desperation that was supposed to be temporary but grew into a policy in its own right defined by the economic micromanagement of the Federal Reserve. Since then, the Fed rather than the marketplace has effectively determined the money supply, leaving a slew of misjudgments that you would expect from a board of economists trying to do the market’s job for it. The paper money system has thus produced lower economic growth, higher unemployment, and higher interest rates.
Gold has historically been the top-ranked monetary commodity for the U.S. and the rest of the world because it lends itself so well to the ideal characteristics of money: limited in supply, recognizable as wealth, and indestructible. Its production tends to be in sync with long-term economic growth, making it the most appropriate constraint on money creation. Currency backed by gold fulfills money’s uses as a medium of exchange, unit of account, and store of value.
History and practicality aside, journalists and policymakers are not below mocking gold as quaint or trivial. Running underneath that is a relatively new interpretation of money as just a mysterious thing rather than a sacred idea. The volatility of the dollar’s value since gold was demonetized has helped strip out the notion of integrity in money. Now it is just another commodity, a market variable, and even a political weapon. Workers, consumers and savers are left to figure out how to manage its fluctuating value with only the assurance of the Fed. The FDIC estimates that more than 25 percent of households in this country are unbanked or underbanked, leaving them with no financial protection against inflation.
With this in mind, Utah took the first step in doing what it could to protect itself against further deterioration of the dollar. The bill’s House sponsor, Republican Brad Galvez, called it “a step in preparedness, a step in security that allows us to be able to hold up our economy as the dollar continues to shrink.” Larry Hilton, a lawyer who drafted the proposal and championed it, said, “Even if our nation is fortunate enough to sidestep the really calamitous consequences our current fiscal and monetary policies engender, sound money just makes sense for Utahns, and all Americans for that matter. It provides the means to opt out of the insidious ‘inflation tax’ that has deprived so many globally of vast amounts of personal wealth.”
The bill has implications across the country. Utah is the first state to pass legislation to counter the Fed, but a dozen others have already proposed similar bills, including Iowa and South Carolina. If more of these states seize on the traction Utah is providing, it would show a groundswell of support for reforming the monetary system. Tea party activists, many of whom are new to politics, have immersed themselves in study of the values of the American founding and the principles of classical economics. Gold-backed money is rooted in both spheres, which is why it is starting to bubble up to the surface of American politics. So used to accepting the deeply-flawed monetary system as beyond the reach of reform, Washington should pay close attention.
Rich Danker is Project Director for Economics at American Principles Project, a Washington-based political organization
Asset Forefeiture -The Drug War Business Murder at Scott Ranch
http://www.freedomsphoenix.com/News/085573-2011-03-12-the-drug-war-business-part-two-murder-at-scott-ranch.htm
http://www.justice.gov/jmd/afp/
Excerpt:
The Department of Justice Asset Forfeiture Program encompasses the seizure and forfeiture of assets that represent the proceeds of, or were used to facilitate federal crimes. The primary mission of the Program is to employ asset forfeiture powers in a manner that enhances public safety and security. This is accomplished by removing the proceeds of crime and other assets relied upon by criminals and their associates to perpetuate their criminal activity against our society. Asset forfeiture has the power to disrupt or dismantle criminal organizations that would continue to function if we only convicted and incarcerated specific individuals.
http://forfeiturereform.com/2011/01/28/update-on-the-noaa-asset-forfeiture-scandal/
Excerpt:
NOAA is not about confronting and dealing with misconduct and corruption. It is about protecting it. It is not about transparency. It is about covering things up.
It is not about fairness and complying with its own federal statutes — balancing the needs of an industry with those of the environment, as required by the Magnuson-Stevens Act.
I will never forget Kent coming home from the bay area after attending a conference. He shared with me how much pot smoking went on still, he was such a straight arrow he didn't know much but he was sure willing to learn. (The lady who he stayed with had picked him up at the airport and offered him a hit on a joint. I miss you Kent. ...cal
Anguished Exit of Kent Knudson (watch the Hoffman video please)
http://www.prisonabolitionist.org/2010/10/anguished-exit-of-kent-knudson.html
Excerpt:
Because of the public scrutiny of the accused, the dehumanization of "criminals", the expense and energy one needs to invest in legal defense, the humiliation of jail, the constant coercion to take a plea under threat of state violence if found guilty at trial, and all the social consequences of being a felon, prosecution and criminalization can be so much more damaging to a life, career, family, and spirit than what may actually be handed down by a judge - that truth is always left out of the sentencing. It pushes way too many people - including the innocent and mentally impaired - to take their own lives over things that should never even merit jail, much less execution. I hope we can turn that around soon.
Please, all, remember that while suicide is 100% preventable, it can trigger a cascade of despair and further self-destruction within communities; keep close tabs on your own moods as well as on your loved ones in the coming weeks and months. If you need to, call a friend, see a professional, or dial a hotline to talk, cry, or rage. Try to wait to act on your impulses until the urgency passes - you can always reserve the option of suicide for when your moods improve, which they eventually will; that's why I'm still here - once I feel better, even if conditions are worse, killing myself never looks like the best solution to whatever I'm struggling with. Remember - we need all the help we can get on this planet; we need to keep the good guys alive to get through this.
Condolences to Kent's family and friends - to all whom his life and death so deeply touched.
Have a blessed journey Home, Kent.
Lyrics
Anguished Exit of Kent Knudson (watch the Hoffman video please)
http://www.prisonabolitionist.org/2010/10/anguished-exit-of-kent-knudson.html
Excerpt:
Because of the public scrutiny of the accused, the dehumanization of "criminals", the expense and energy one needs to invest in legal defense, the humiliation of jail, the constant coercion to take a plea under threat of state violence if found guilty at trial, and all the social consequences of being a felon, prosecution and criminalization can be so much more damaging to a life, career, family, and spirit than what may actually be handed down by a judge - that truth is always left out of the sentencing. It pushes way too many people - including the innocent and mentally impaired - to take their own lives over things that should never even merit jail, much less execution. I hope we can turn that around soon.
Please, all, remember that while suicide is 100% preventable, it can trigger a cascade of despair and further self-destruction within communities; keep close tabs on your own moods as well as on your loved ones in the coming weeks and months. If you need to, call a friend, see a professional, or dial a hotline to talk, cry, or rage. Try to wait to act on your impulses until the urgency passes - you can always reserve the option of suicide for when your moods improve, which they eventually will; that's why I'm still here - once I feel better, even if conditions are worse, killing myself never looks like the best solution to whatever I'm struggling with. Remember - we need all the help we can get on this planet; we need to keep the good guys alive to get through this.
Condolences to Kent's family and friends - to all whom his life and death so deeply touched.
Have a blessed journey Home, Kent.
Lyrics
When I'm Gone
by Phil Ochs
Capo 1st fret
Intro:D/Bm/G/Em/A/D/A/Bm/Em/A/D
D Bm
There's no place in this world where I'll belong when I'm gone
G Em A
And I won't know the right from the wrong when I'm gone
D A Bm
And you won't find me singin' on this song when I'm gone
Em A D
So I guess I'll have to do it while I'm here
And I won't feel the flowing of the time when I'm gone
All the pleasures of love will not be mine when I'm gone
My pen won't pour out a lyric line when I'm gone
So I guess I'll have to do it while I'm here
And I won't breathe the bracing air when I'm gone
And I can't even worry 'bout my cares when I'm gone
Won't be asked to do my share when I'm gone
So I guess I'll have to do it while I'm here
And I won't be running from the rain when I'm gone
And I can't even suffer from the pain when I'm gone
Can't say who's to praise and who's to blame when I'm gone
So I guess I'll have to do it while I'm here
Won't see the golden of the sun when I'm gone
And the evenings and the mornings will be one when I'm gone
Can't be singing louder than the guns when I'm gone
So I guess I'll have to do it while I'm here
All my days won't be dances of delight when I'm gone
And the sands will be shifting from my sight when I'm gone
Can't add my name into the fight while I'm gone
So I guess I'll have to do it while I'm here
And I won't be laughing at the lies when I'm gone
And I can't question how or when or why when I'm gone
Can't live proud enough to die when I'm gone
So I guess I'll have to do it while I'm here
http://www.kpho.com/news/25408620/detail.html
Video Shows Officer Playing 'Prank' On Homeless WomanPOSTED: 6:24 pm MST October 15, 2010 UPDATED: 7:02 pm MST October 15, 2010
More information on the past behavior of a Phoenix police
officer charged with second-degree murder reveals a video
of him playing what he called a "prank" on a homeless woman.
In 2005, Phoenix police Officer Richard Chrisman and his partner
were field training fellow officers when a surveillance video
caught them pulling the "prank" on a homeless woman who was mentally ill.
The video at first shows Chrisman as he twirls his police baton in front
of the woman, eventually leaning toward her.
As two other officer observe the woman, Chrisman and his partner
walk to the the trunk of their squad car. The video clearly shows
Chrisman slip his partner some drug paraphernalia so she could
pretend she found it on the woman.
Chrisman and his partner later admitted they were just messing
with the woman to see how she would respond.
"I guess me and all my wisdom thought it would be a good idea,
funny you know, to play a prank," Chrisman states in a police
department internal affairs report.
No comments:
Post a Comment