The Daily Dupe: How the big banks are trying to claim the moral high ground

By Julie Chinitz

Welcome to “The Daily Dupe,” your peek into the big banks’ spin machine. We’ll post a “dupe” everyday in the lead up to our second National Attorneys General Call-In Day on March 29. Click here to join our campaign on Facebook and to tell your friends to join the fight on March 29.

Well, the big banks have outdone themselves today – with too much outrageous behavior to just shine the light on one. And one thread runs through the items below- how the big banks are trying to use the moral high ground to defend their outrageous, and often illegal behavior.
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The Daily Dupe: Bank of America tries to spin Detroit on foreclosures

Welcome to “The Daily Dupe,” your highlight of the big banks’ spin machine. We’ll post a “dupe” everyday in the lead up to our second National Attorneys General Call-In Day set for March 29. Click here to join our campaign on Facebook and to tell your friends to join the fight on March 29.

Bank of America focused its pr machine yesterday at the city of Detroit, a city badly hurt by the foreclosure crisis.

In an Op-Ed in The Detroit News called “Foreclosure Always The Last Option” Bank of America CEO Brian Moynihan wrote:

“Every day, our mortgage servicing employees talk with tens of thousands of distressed customers, with the goal of helping them stay in their homes, if possible. Unfortunately, the only path left for some is foreclosure.”

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The Daily Dupe: Wells Fargo gives Ohioan $2 loan modification. A whole $2.

By Julie Chinitz

Welcome to “The Daily Dupe,” your daily highlight of the bankster propaganda machine. We’ll be posting a “dupe” everyday in the lead up to our second National Attorneys General Call-In Day on March 29. Click here to join our campaign on Facebook and to tell your friends to join the fight on March 29.

The big banks swear they want to help homeowners get through the housing market mess – a mess the large financial institutions created. But chances are Ohioan Mike Elewski isn’t buying it.
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Welcome to The Daily Dupe! We’re exposing the bankster propaganda machine

By Julie Chintz

Welcome to “The Daily Dupe,” your daily highlight of the bankster propaganda machine. We’ll be posting a “dupe” everyday in the lead up to our second National Attorneys General Call-In Day. In February, thousands of people called their state AG to demand a strong settlement against the big banks. On March 29, we’ll build those forces and increase the pressure on the Attorneys General to take a stand for homeowners. Stay tuned to Crime Shouldn’t Pay for more information on how you can participate on March 29!

We know from experience that the big banks will never do the right thing on their own. In fact, they will fiercely fight against anything that prevents them from ripping off their customers.

Exhibit 1: Here’s Wells Fargo CEO John Stumpf complaining to shareholders this week about new limits on how much banks can charge merchants for accepting debit card payments – including mom-and-pop businesses that really feel the squeeze.
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Countdown to March 29: Prepare for a National Call-In Day to our 50-state Attorneys General

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This week, the state Attorneys General will begin negotiations with the big banks on the terms of the settlement to their fraudulent practices. While the final details will take weeks to hammer out, the opening salvo will determine what stays on – or gets kicked off – the negotiating table.

The stakes couldn’t be higher.

On Tuesday March 29, thousands of Americans will participate in a nationwide call-in day, demanding that their Attorney General “stand with homeowners, not the big banks.”

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Despite pressure by court to stay away from Bank of America, Massachusetts group takes over local branch

March 17 – Defying Bank of America’s attempts to use the courts to scare them off, the Alliance to Develop Power in Massachusetts took over a Bank of America Branch on Thursday to demand that America’s biggest forecloser and tax avoider do its part to fix the American economy. This action took place just days after a court offered to drop trespassing charges from a previous action if ADP members stayed away from Bank of America.

Upon arriving at a Springfield Bank of America branch Keya Alvarez, ADP co-chair, announced the homeowners were there in order to get Barbara Desoer, President of Mortgages and Insurance on the telephone for the Bank of America customers unable to reach a live person to get assistance with pending foreclosures. Multiple homeowners testified about how Bank of America had unjustly foreclosed on their home.

In one testimony, Carlos Arias spoke of his pending foreclosure by Bank of America and the bank’s refusal to speak to him. Carlos has records of upwards of 80 telephone calls made to Bank of America without resolution, the majority of which were spent trying to get through roboanswering machines and without speaking to an actual person.

Only a few days before, members of the ADP were in court facing trespassing charges stemming from last October, when a courageous group of women took on the American Bankers Association at their annual conference in Boston. Dressed as bankers, ADP members took turns interrupting the conference to demands that the banks do their part to keep families in their homes and fix the economy. They were arrested for this act of civil disobedience. Read more



An Open Letter to the 50 State Attorneys Generals From the Homeowners That Visited the AG National Meeting in Washington, DC

TO: 50 State Attorneys General
FROM: The millions of families who have been dealing with the lies of the big banks for years
DATE: March 10, 2011
SUBJECT: Regarding your 27-page initial settlement proposal (a few tips)

Dear Attorneys General,

After months of investigating the big banks’ pervasive mortgage fraud, you have finally put forward your first proposal for a settlement.

First, congratulations on successfully submitting a document to the big bank servicers that they did not misplace. Count yourself lucky that you did not have to fax it five or six times in order for the servicers to acknowledge receipt, like so many homeowners have done trying to save their homes. This is a victory, but unfortunately, that looks like one of only a few bright spots.

With this document, you may have thought that starting with a vague proposal that gives the big banks lots of wiggle room and includes few details on enforcement would be a good place to start negotiations. Instead, the banks and their supporters are already crying foul.

We’ve learned that there’s only one way to deal with the big banks. You have to lay out all the rules, with no wiggle-room and then watch them like a hawk every step of the way. Read more



March 7 VIDEO: Homeowners descend on on National Association of Attorneys General Conference

On March 7, hundreds of homeowners went straight to the National Association of Attorneys General Conference in Washington, DC to demand the the 50 state Attorneys Generals issue a strong settlement against the big banks who committed massive mortgage fraud and unfairly forced millions of homeowners into foreclosure. Check out the video here.

To see the full requirements of what should be in the settlement, visit The Homeowners Bottom Line.



Call Your Attorney General and Tell Them “Bank Crime Shouldn’t Pay!”

If you missed the National Call-in Day on February 3, there is still time to call your Attorney General!

Are you sick of the big banks continuing to reap big profits from the damage they caused to our homes, families and communities? If so, join with thousands of people and call your state Attorney General to demand a strong and meaningful settlement against the big banks.

The nation’s 50 state Attorneys General are currently investigating the fraudulent mortgage practices of the big banks. The big banks are pressing for a quick settlement that will let them off the hook for their crimes and keep the process behind closed doors. We need to fight back and keep the pressure on.

Just a few minutes of your time will send a message to the Attorneys General that we’re watching their work closely and we won’t settle for anything less than deep penalties for the big banks and justice for millions of homeowners. Read more