This is off the M.O.P. & Termanology mixtape “True To The Game Pt. 4″
which will hit the internet on Dec. 21st .. Enjoy!

M.O.P. – Larceny

By: Various authors and journalists

The bank that coined the phrase, “we listen, we understand, we make it work” seemed to forget that public relations slogan during the large CAW labor protest at 500 Woodward Avenue, in Detroit, MI.  As you recall, Canadian workers of Adraco and Aramco a division of Catalina Precision, have been denied their severance, termination, and vacation pay by the Catalina’s creditors Comerica Bank.  Numerous coalitions were there to demand justice for workers who just want to be paid what they are owed and Comerica controls the purse strings.  They feel that workers being paid is more important that Comerica executive bonuses.  Participants signed a letter to the company’s executives asking Comerica to live up to the so called “code of ethics” that is posted on Comerica’s website.  The code of ethics seems like a great public relations spin tool but the workers with children to feed were more interested in Comerica showing action; not just empty public relations gimmicks.  As one of the participants read from Comerica’s code of ethics, looks of disgust and frustration fell over participants faces.  There appeared to be a huge disconnect between corporate marketing propaganda and the daily reality that the workers were facing.
At one point a protester challenged the CEO, Ralph Babb and the Michigan President Tom Ogden to respond to the workers concerns.   Comerica executives were challenged to answer the following questions:

• Do they think it was fair that Comerica was rewarded $2.25 billion in TARP money approximately 30 days after the Michigan attorney general Mike Cox forced Comerica Securities to pay fines and restitution of over $1.5 billion to shareholders?
• Is it fair that the banking industry has received $23.7 million in subsidies, bailouts and backdoor corporate welfare while homeowner forclosure rates are at 15% and property values have collapsed?
• Is it fair that the citizens labor under disasterous debt burdens while the banking industry has been given subsidies that could have paid off personal mortgage debt three times over?
• Workers have alleged fraud by the company owners.  Should law enforcement launch an investigation into what Comerica knew and when they knew it?  Are there possible fraudulent conveyance issues regarding the collateral?
• Is if fair that US banks are speculating with the TARP money, including foreign exchange trading that is driving the US dollar lower?
• Is if fair that Comerica CEO Ralph Babb got a raise in 2008?
• Is it fair that Comerica stock holders have lost money over the past 5 years while Comerica executives have gotten extremely wealthy?
• Is it fair that Comerica Bank has so much taxpayer TARP money and at the same time ranks in the top ten banks for loans to company insiders?
• Is it fair that these loans to corporate insiders are not fully transparent?
• Is it fair that Comerica has refused to give an account of exactly where the $2.25 billiion in TARP money went and why?
• Is if fair that Comerica executives seem to hide in their plush offices and refuse to answer the public’s questions?  Perhaps the next protest should be at the home of a Comerica executive like Michigan President, Tom Ogden in Grosse Pointe?   Perhaps neighbors should have a chance to see exactly what serous issues Comerica executives are dodging?

No Comerica executives were willing to address these questions.  To the contrary, a goon from Comerica’s security staff came outside to harrass the protesters and interfere with the protest.  A Comerica security goon constantly interfered with the groups right to free speech and free assembly.  At the same time various Comerica employees watched the protesters from the lobby of the building.  Many protesters commented on the arrogant smirks from the “Comericasuits” that watched the workers appeal for fairness.  After letter to Comerica management had been signed by all the attendees the CAW made an attempt to deliver it to someone in the lobby.  To our surprise, Comerica had locked the doors and therefore could not receive the signed letter.  Even Comerica customers and employees were unable to get into the front door after Comerica locked them out at approximately 12:45 pm.  Participants thought this as an act of wholesale cowardice and arrogance.   The signed letter had to be left at Comerica’s front door while the various journalists continued to take notes.  This is what $2.25 billion of your tax dollars now sit.  What will Comerica plan as an encore at future protests?

Disclaimer:

Views and opinions of varous authors and journalists are not necessarily those of www.bankingwhistleblower.wordpress.com or Circle Point LLC. No warranties expressed or implied. Feel free to express your comments, suggested revisions, corrections and/or dissagreements to the editors.  All reader input will be viewed objectively.

Not every crook is a pickpocket waiting to ambush you in some faraway place. For some, the weapons of choice are a smile and a sales pitch. But they can ruin your vacation, your credit rating and more — without you ever leaving home.

We’re going to tell you how to spot them — and stop them.

You’ll find it all on the Travel Safe! page.

Watch for it!

Real Estate; Building Plan In Detroit Starts Debate

Published: Wednesday, August 22, 1990

COMERICA INC., one of Detroit’s largest banks, has won approval for a controversial plan to tear down a riverfront auditorium that was donated by the Ford family to the city and put a new corporate headquarters on the site.

After a series of heated public debates, Detroit’s City Council voted 6 to 3 last month to approve the plan by Comerica and the developer, Gerald Hines Interests Inc. of Houston, to buy the Ford Auditorium, demolish it and build a 28-story headquarters. The design, by the architect Cesar Pelli will be made public next month. Comerica will start razing the auditorium, now rarely used but once the home of the Detroit Symphony, this fall, and construction will begin next summer.

The controversy centers not only on the location of the proposed 750,000-square-foot building but also on the economic incentives given by the city. Under an agreement with Mayor Coleman A. Young’s office, the bank will be allowed to buy the site for $7.5 million, with payments delayed 28 years, and receive an $18 million, 28-year interest-free loan for construction.

Downtown Detroit has been the site of relatively little major office construction since the Renaissance Center was built in the late 1970’s. The Comerica project comes just a few months after Gerald Hines began construction of a 50-story office building nearby, and many local real estate people fear a glut of offices in the downtown market.

Opponents, among them an array of business and civic leaders and some members of the Ford family, say the site next to Hart Plaza, a large public space with a huge fountain and an amphitheater, is inappropriate for a high-rise office structure. Woodward Avenue, Detroit’s main commercial thoroughfare, leads into the plaza, making it the core of the city’s riverfront. They also assert that the auditorium should not be torn down. It was built in 1956 to house the city’s symphony orchestra and abandoned last year because of poor acoustics. The orchestra now performs in its original home, Orchestra Hall, which was refurbished in 1989.

Comerica’s supporters say the project will be an important investment by the bank that will keep approximately 1,200 jobs downtown and put a new, world-class office building on the riverfront. The bank defends its plans, saying it could not find another site downtown appropriate for its headquarters that would attract investors to help build it.

Critics say Comerica blackmailed the city by hinting that it would move to the suburbs if the project was not approved. William Clay Ford, grandson of Henry Ford and the largest single shareholder of the Ford Motor Company, criticized the bank’s proposal in a letter to the city and said his family would no longer make donations to the city as long as the Young administration was in office.

Mel Ravitz, one of three City Council members who voted against the proposal, is a party to a lawsuit to stop the project. He said he opposed the plan because the city would be selling an asset to a private company that had been donated for public use.

”This seems to be a violation of the public trust,” Mr. Ravitz said. ”My primary concern now is that other developers will be looking to the city to bargain for other public lands.”

The controversy started in May when Comerica and the city announced the project. The bank said then that it had spent several months looking for a site because the lease in its current headquarters would expire in mid-1993.

”The Ford Auditorium site was the one that best guaranteed that we could attract the financing and tenants to make the building an economic success,” said David Taylor, a Comerica spokesman.

A loyal reader sent this in.  Thought it would would be interesting and useful to readers of this blog.

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update

Financial Suicide Bombers

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Clickables

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poster

bumper sticker

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Matt Taibi on Goldman Sachs
“a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.”

We write checks all the time. Most people will at least write one check a month. Thankfully for debit cards you are less likely to see someone pull out a check book at a store. However, writing checks is still a big part of paying bills for most people. Passing a bad check, could land you in jail.

If you write a check and there are insufficient funds in your checking account, you could be charged with larceny by check. Essentially, the prosecution needs to prove that:

• you wrote the check

• got something in return for writing that check

• knew that you didn’t have enough funds in your account

• wrote the check with the intent to defraud someone

With the economy as bad as it is, a lot of people are struggling to pay their bills. As a result, people’s bank accounts are dwindling and this could lead to more checks being bounced. When you bounce a check, it is pretty easy for the prosecution to prove that you wrote a check and got something in return. After all, most of us write checks to pay bills or in exchange for something.

It is much more difficult for the prosecution to prove that you knew that you didn’t have enough funds in your account, or had the intent to defraud. The prosecutor can’t look into your brain and see what your intent was, so they will have to rely on other evidence. One of the most common ways for the prosecution to try to prove that you knew there was insufficient funds and had the intent to defraud, is to look at the account. For example, if you wrote a check for $5,000 and your account usually has $5,000 or more, then it won’t help the prosecutor’s case much. On the other hand, if you write a check for $5,000 and your account never had more than $10 in the account, then that will be a problem for you.

Most people who bounce a check will never be charged with anything. Times are difficult making bad checks more common. In the end, to avoid any possible problems check you account status and make sure checks clear.

Interested twitter followers please visit- twitter: http://twitter.com/AttorneyChan

Interested in becoming a Facebook fan please visit http://www.facebook.com/home.php#/pages/Boston-MA/Law-offices-of-Attorney-Jason-Chan/101494423854?ref=sgm

For more information about this post:

MA General Laws Chapter 266: Section 37. Fraudulent checks, etc.; drawing or uttering http://www.mass.gov/legis/laws/mgl/266-37.htm

Jury Instructions on Larceny by check http://www.mass.gov/courts/courtsandjudges/courts/districtcourt/jury-instructions/criminal/pdf/8460-larceny-by-check.pdf

News day report on larceny by check scam http://www.newsday.com/long-island/nassau/cops-elmont-man-charged-with-attempted-larceny-1.1429338

Berkley man faces larceny by check charge http://www.wickedlocal.com/berkley/news/x1564860184/Berkley-man-faces-list-of-charges-in-alleged-check-scheme

RECORD. El dels premis CAPLA de dibuix, a Castelló, que organitzava la Caixa d’Estalvis. Fins i tot jo, amb el conegut trauma pel dibuix que em va causar un dels enrgúmens que passaven per mestres quan érem infants, m’hi presentava; per mor dels obsequis, naturalment i exclusivament –aquells rotuladors gruixats indelebles, un de negre i l’altre de vermell; o la taula periòdica dels elements; o el més bo de tots, un que em sap greu d’haver perdut: el Cuadro sinóptico de la Historia universal, valga’m Déu!

CALIGRAFIA. La bona lletra és com l’educació –no l’hauries de perdre mai. Més encara –cal conservar-la, com a mostra d’autocontrol i font d’autoestima, en les situacions en què els altres estarien encantats que t’hi deixassis anar.

FURTS. Al llarg de la meua vida m’han furtat bastantes coses (afortunadament, no m’han atracat mai). He comprovat que, a la feina, qualsevol cosa que deix damunt la taula sense vigilància és susceptible de ser robada. Hi ha una excepció, però: els llibres. Ningú està interessat a furtar llibres. Són un no-valor segur. Ja els pots abandonar tranquil.lament, en el lloc més visible, que ningú no hi pararà esment.

AMISTAT. Diu Toni F. que, per a ell, l’amistat és un concepte elusiu. I per a qui no? Jo hi he pensat, escadusserament, al llarg dels anys –és un tema que m’agrada. Què en puc dir? Que, o bé adoptes un criteri de màxims, el de és amic aquell que t’ajuda a moure un cadàver (i no ho prengueu completament a broma –penseu durant una estona si algú en el vostre cercle d’amistats ho faria), o si pel contrari et va més bé el criteri de mínims, en què seria amic tot aquell amb qui tens relacions, bones o dolentes, superficials o profundes (i no desdenyeu aquest criteri tampoc del tot –penseu que conèixer qualcú, tenir-hi relació és una extravagància planetària, una insignificància estadística quan ho poses en relació amb la gent que no coneixes).

AMOR. I què passa amb l’amor? L’amistat no és pas amor. L’amor és una cosa distinta que requereix d’altres criteris per ser identificada i mesurada. Com saps qui t’estima, i com saps a qui estimes? Aquí no valen criteris de mínims –no estimes per se amb qui estàs casat, ni als qui t’han parit. Estimes, com deia Diana Ross, aquell pel qual, si desaparegués, ho deixaries tot i a tots (tot i a tots) i no aturaries fins trobar-lo — literalment, no figurativament. Ara digues: quants n’hi ha, en la teua vida, que qualificarien per a això?

by Tula Connell, Oct 22, 2009

When you’re a member of the American Bankers Association (ABA) meeting in Chicago amid the worst U.S. jobless crisis and most disastrous economy since the 1930s Depression, what’s the logical move to make?

Dress up in a Roaring ’20s costume and party like it’s 1929.

Proving yet again that not only do taxpayer-bailed-out CEOs have no shame, word has it that they plan to flaunt their taxpayer-fueled wealth in our faces, the ABA is sponsoring its Roaring ’20s party in conjunction with its Oct. 27–29 meeting.

AFL-CIO President Richard Trumka will lead thousands of mad-as-hell Americans in a rally outside the ABA meeting on Oct. 27, demanding financial reform and re-regulation that will allow us to rebuild our communities, our lives and our economy.

(If you’re in Chicago, join us Oct. 27 at 10:30 a.m. CST. The march departs from the corner of East Wacker Drive and Stetson Avenue. After about a 15-minute march, the rally will be outside the Sheraton Chicago Hotel & Towers at 301 E. North Water St.)

Because when they’re not stocking up on Jay and Daisy attire, Big Bankers and financial institutions are using the $700 billion in taxpayer bailout money to attack proposals like the Consumer Financial Protection Agency that would actually help working people while decreasing the chance of another Big Bank-fueled financial meltdown. Of course, they’re not using all of our money to fight reform. Some of it—about $7 billion—is going to bonuses for top CEOs.

For decades, these bankers have been dealing to each other, inventing more and more exotic financial vehicles together and basically regulating themselves. No one is safe while they are doing business with each other without oversight or regulation. A 2006 Citigroup report clearly puts it all out there: While the rich are getting a greater share of the wealth, and the poor a lesser share, political enfranchisement remains as was—one person, one vote.

Unfortunately, a big problem in making financial reform happen is actually trying to explain what’s involved. Who understands this stuff? Here’s a simple outline of what the union movement is pushing for right now in Congress.

The Consumer Financial Protection Agency. President Obama’s proposed agency would protect the public against credit card and mortgage rip-offs. The agencies that were supposed to protect us from financial meltdown failed. The new agency would place consumer protection authority in the hands of a single entity that would monitor banks and other institutions—but not your butcher, as the U.S. Chamber of Commerce ludicrously claimed.

A council of regulators to identify and fix systemic risks that could threaten the entire financial system—risks such as institutions becoming “too big to fail,” too complex or too interconnected. When the government intervenes, the goal must be to protect the public, not just rescue executives and rich investors. The past year has proven that the Federal Reserve Board is just too close to the banks. Either we need to reform the Fed or we need to give this job to a truly public agency.

Bring the “shadow markets” into the daylight. Most people—like Michael Moore’s Wall Street guy—probably don’t really know what hedge funds, private equity funds and derivatives are or do. You’re not supposed to—it makes them easy to manipulate. They’ve been unregulated and totally lacking in transparency. These vehicles need serious regulation and oversight before they suck more money into the black hole of convoluted transactions.

Reform corporate governance and CEO compensation to protect the interests of long-term investors—people saving for retirement, not speculating.

As Robert Shapiro notes on the NDN blog, CEOs are richer than ever: “We didn’t need this latest and most conspicuous instance of greed at Goldman Sachs to know that the compensation provided to the uppermost echelons of American business is out of control.”

Since 1990, the pay of American CEOs has jumped from 90 times the average workers’ pay to 250 times—compared to 15 to 30 times for British, French and Japanese CEOs.

Wealth inequality in the United States has been long in coming, according to a new paper by the Center for Economic Policy Research:

While the United States has long been among the most unequal of the world’s rich economies, the economic and social upheaval that began in the 1970s was a striking departure from the movement toward greater equality that…was a central feature of the first 30 years of the postwar period. This is…the direct result of a set of policies designed first and foremost to increase inequality.

Hearkening back a few decades ago when we were told to relax and love to learn the bomb, David Dayen noted yesterday how a Goldman Sachs executive offered us little people similar advice for this jobless era: We “must tolerate the inequality.”

And just to show how big-hearted they are, financial giants are offering jobless workers gigs standing in line for wealthy financial industry lobbyists. Seems the well-coiffed from Goldman Sachs and other beneficiaries of taxpayer bailout money don’t want to wait to get into congressional hearing rooms—where these lobbyists are fighting to kill regulatory reform and proposals like the Consumer Financial Protection Agency and other reforms that would actually help America’s workers.