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Koch Brothers revelead through the ‘Freedom Partners’ a plan to repeal laws under the Trump Presidency!

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In American politics there have in the recent years been families intervening with their Super-PACs and their lobbyist to get their legislation through both U.S. Congress and House of Representatives, as well making sure the Supreme Court are accepting it. Than you have this one industrial family, the Koch brothers David and Charles that has involved themselves in politics and engaged in donating campaign funds to dozens of Republican candidates over the years. These have in return delivered legislation that the Koch brothers industries have profited on.

The Super-PAC named “Freedom Partners” set in plan how the Trump Presidency could repeal and make sure the legislation of Obama administration get away. So the leniency and corporate freedoms get back as it was before. Since this legislation has hampered the ability to gain vast profits on destroying the planet and giving minimum salaries to their employees. Something industrialists like Koch brothers wants more off and not just behaviour from the Federal Government.

Therefore the newest document shows certain aspects of their wish-list of how a Trump Presidency should be:

“• Executive Actions and Proposed Regulations: President-elect Trump can unilaterally rescind any executive action signed by President Obama or proposed regulations that have yet to be finalized, including, but not limited to:

  • Executive order establishing a task force on commercial advocacy
  • Executive order putting a moratorium on new federal coal leases
  • Presidential memorandum requiring new federal overtime rule promulgation
  • Paris Climate Agreement requiring greenhouse gas emissions reductions
  • Proposed Environmental Protection Agency (EPA) programs incidental to the Clean Power Plan
  • Proposed Consumer Financial Protection Bureau (CFPB) payday and vehicle title loan rules
  • Proposed CFPB arbitration rules
  • Regulations Finalized On or After June 13, 2016: Under the Congressional Review Act (CRA), Congress can avoid a Senate filibuster to repeal all regulations finalized during the last 60 legislative days, with June 13, 2016, being the cutoff date.

Congress should prioritize the following:

  • Final Stream Protection Rule regarding coal mine permitting
  • Bureau of Land Management (BLM) federal lands Methane Rule
  • Environmental Protection Agency (EPA) Renewable Fuel Standard (RFS): 2017 and 2018 obligations
  • EPA Greenhouse Gas Emissions Standards: Medium- and Heavy-Duty Engines and Vehicles” (Freedom Partners – ‘A ROADMAP TO REPEAL: REMOVING REGULATORY BARRIERS TO OPPORTUNITY’ – 05.01.2017).

That the Executive orders are coming in and making sure that the economic freedoms of corporations is extended and the limitations of former put legislation are repealed. So that the powerful and rich men which are the core base with core principals of the Trump Administration get their will. Therefore the Koch Brothers and their campaign through this Super-PAC are already achieved.

The like memorandum on the Fiduciary Duty that we’re signed in on the 3rd February, which stated: 

“Section 1. Department of Labor Review of Fiduciary Duty Rule. (a) You are directed to examine the Fiduciary Duty Rule to determine whether it may adversely affect the ability of

Americans to gain access to retirement information and financial advice. As part of this examination, you shall prepare an updated economic and legal analysis concerning the likely impact of the Fiduciary Duty Rule, which shall consider, among other things, the following:

(i) Whether the anticipated applicability of the Fiduciary Duty Rule has harmed or is likely to harm investors due to a reduction of Americans’ access to certain retirement savings offerings, retirement product structures, retirement savings information, or related financial advice;

(ii) Whether the anticipated applicability of the Fiduciary Duty Rule has resulted in dislocations or disruptions within the retirement services industry that may adversely affect investors or retirees; and

(iii) Whether the Fiduciary Duty Rule is likely to cause an increase in litigation, and an increase in the prices that investors and retirees must pay to gain access to retirement services” (White House – ‘MEMORANDUM FOR THE SECRETARY OF LABOR SUBJECT: Fiduciary Duty Rule’ – 3rd February 2017).

These here is simply put order where Trump is putting in place less legislation and regulation on banking sector where they trade financial instruments to costumers, the citizens and the ones beholden the retirement funds. These are now set in place in a way where the advice from bankers are put so they get legal advice they see fit for their situation and not for what the banks earn the most on each client. With the new legislation, the bankers can in general sell bad investment portfolios to costumers and gain massive fortunes on the bad investments. This is what the Koch Brothers wants to achieve through their PAC.

Than you have the other latest Executive order which state this:

Section 1. Policy. It shall be the policy of my Administration to regulate the United States financial system in a manner consistent with the following principles of regulation, which shall be known as the Core Principles:

(a) empower Americans to make independent financial decisions and informed choices in the marketplace, save for retirement, and build individual wealth;

(b) prevent taxpayer-funded bailouts;

(c) foster economic growth and vibrant financial markets through more rigorous regulatory impact analysis that addresses systemic risk and market failures, such as moral hazard and information asymmetry;

(d) enable American companies to be competitive with foreign firms in domestic and foreign markets;

(e) advance American interests in international financial regulatory negotiations and meetings;

(f) make regulation efficient, effective, and appropriately tailored; and

(g) restore public accountability within Federal financial regulatory agencies and rationalize the Federal financial regulatory framework” (White House – ‘CORE PRINCIPLES FOR REGULATINGTHE UNITED STATES FINANCIAL SYSTEM’ – 3rd February 2017).

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This is where you see that the business oriented President Trump has put in place two different sort of orders, with the outcome of deregulating the financial industry, the ones trading and selling financial advice to their costumer’s, the other where they are focused of giving the financial decisions directly to the companies. Hereby giving the full power of all instruments to the financial industry and their corporations, that instead of regulating the financial and fiscal regulations that could stop the economy from cracking; with none or lose regulation could give the enterprises a free will that could led them to bubbles. First it would give enormous souring profits, but after the bubble burst the recession and cause massive loses to all citizens who invested in speculative business.

Koch brothers are surely having a wish-list that is starting to be achieved as even coal-legislation has been mentioned to be voted in the U.S. Congress. Therefore the plans of the Freedom Partners and the steps to repeal the regulations of Obama will cease to exist. This is certainly to vanish the print of legislation that we’re for common good and not only for corporate greed.

Step two of the Wish-list of the Koch Brothers we’re these:

“STEP 2. LONGER-TERM OPPORTUNITIES

All other regulations passed before June 13, 2016 can be repealed in at least one of three ways.

  • Executive Rulemaking, Legislation to Rescind or Defund, and Judicial Challenges. These are time-consuming processes that should begin immediately. President-elect Trump and Congress should prioritize the following:
  • EPA Rule defining The Waters of the United States
  • EPA Clean Power Plan
  • HHS Electronic Health Record Incentive Program
  • HHS Establishment of Exchanges and Qualified Health
  • DOL Overtime Rule
  • DOL Fiduciary Rule
  • FCC “Net Neutrality” Rule
  • USDA Calorie Labeling for Vending Machines” (Freedom Partners – ‘A ROADMAP TO REPEAL: REMOVING REGULATORY BARRIERS TO OPPORTUNITY – 05.01.2017)

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The Koch brothers with their plans are certainly set into plan or has least showed to the transitional team, as the legislation for certain aspects are put into action. So the plans to achieve their needed lesser legislation and lassies-faire economy are surely on their way. They have already started and the Freedom Partners PAC is effective. What the world should wonder about, what the PAC gave the Trump Administration since they are obliging them so magnificently. Secondly, what did the PAC to do the Republican Congressmen and Senators to gain their votes and get them to enact bills that they want to see?

We can question the power of the Koch Brother can be shown here, as the Republican have succumbed to the will of donors, instead of caring of the U.S. people wish to see. That can be seen as the legislation of late is friendlier of corporations than of the will of people. This will continue under businessman Trump and his running mates in cabinet. Trump Administration might deliver on more of this list of the Koch brothers. As they have started already. This can only indicate what the Trump administration will continue to strive towards as their ally and friendly future donor might want more legislation to pass or to be repealed to secure vast fortunes. Peace.

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CFA Open letter: “Re: Investigation of OneWest Bank, FSB” (06.01.2017)

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Leaked Memo: Show’s Mnuchin’s OneWest foreclosure practices, which was very questionable!

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The nominee for becoming Secretary of Treasury, the man who follows legislation and other close connected to business in the United States. Should be worrying how he has done his businesses in the past. The California courts and Attorney General tried in 2013 to create a case on the public filings of the OneWest bank and their Foreclosure practices, which got stifled by the possibility to hide liabilities through certain fixed laws that OneWest used.

OneWest did it to not get scrutiny and the Attorney General tried get them on the docket, but the working paper was the only one showing, together with what was collected from one County in the State of California. Steve Mnuchin knew about this very well, as he got the profits from the acts of malicious and defrauding citizens, using false pretence to buy properties and selling for subsidiaries.

This $2.4 billion figure should not be confused with the $2.3 billion that CIT Group received from the US Government under TARP in 2008. When CIT filed bankruptcy in 2009, the $2.3 billion became a free gift from taxpayers, never to be repaid. Total government subsidy between the two banks is almost $5 billion, yet both banks claim they are prepared to merge and become a Systemically Important Financial Institution if the proposed merger is approved by the Federal Reserve and the Office of the Comptroller of the Currency”(CRC, 2015).

“Since March 2009, OneWest has foreclosed on approximately 35,000 California homes and initiated foreclosures of approximately 45,000 more. In April 2011, OneWest agreed to the Office of Thrift Supervision’s (OTS) entry of a Consent Order. The Order included findings that OneWest recorded documents that were not properly notarized, initiated non-judicial foreclosures without proper authority, failed to devote sufficient resources to ensure proper administration and oversight of its foreclosures process, and failed to sufficiently oversee vendors” (DOJ, P: 4, 2013).

“Finally, in the review of the 300 OneWest loan files obtained from LPS, we found that 21 files evidenced unlawful conduct by OneWest. Those 21 files (7 percent of those reviewed) contained falsely dated instruments executed by OneWest, substitutions of trustee in which OneWest falsely stated that it was beneficiary under an applicable deed of trust when it was not, or both. This unlawful conduct occurred throughout the state, concentrated primarily in Southern California. The 21 files related to homes in the nine following counties: Los Angeles, Orange, Placer, Riverside, San Bernardino, San Diego, San Mateo, Santa Barbara and Ventura” (DOJ, P: 9, 2013).

“The Investigation has uncovered evidence of unlawful credit bidding, a type of misconduct that is not squarely addressed by either the National Mortgage Settlement or the Homeowner’s Bill of Rights. As detailed below, unlawful credit bidding occurs when a party other than the foreclosing beneficiary uses of the credit reflected by the deed of trust to take title to the home, when it is not legally entitled to do so. This means than other bidders at the auction (perhaps in some cases the borrowers and/or their families) are unfairly disadvantaged in the bidding process and that cities and counties throughout the state lost documentary transfer tax revenue” (DOJ, P: 11, 2013).

“OneWest undertook critical steps in the foreclosure process when it lacked the authority to do so. OneWest falsely asserted that its subsidiaries and the trustees for the mortgage-backed securities trusts had authority to conduct critical steps in the foreclosures process when they did not. This misconduct related to three common steps in the foreclosure process, each governed by statute: (1) credit bidding; (2) payment of or claim of exemption from documentary transfer tax; and (3) execution of SOTs” (DOJ, P: 18, 2013).

“To date, we have located five examples of such examples of such misconduct from public records, and we believe that many of the 86 examples of recorded substitutions of trustee (SOTs) executed in OneWest’s name bearing dates prior to date that OneWest began operations are likely to have been executed without authority (the entity purporting to sign them did not exist on the date the assignment purportedly took place). Similarly, in the review of 175 completed OneWest foreclosures in Alameda County, we found 10 unlawful substitutions of trustee” (DOJ, P: 20, 2013).

“In response, we will argue that: (1) it is undisputed that conflict preemption applies after July 2011; and (2) that complaint seeks to hold OneWest accountable for types of misconduct that were outside the scope of OTS’s claimed field preemtion because they involve criminal and civil code statutes which only incidentally affect the lending operations of federal savings associations” (DOJ, P: 23, 2013).

“We recommend that the Attorney General authorize use to file a civil enforcement against OneWest” (DOJ, P:26, 2013).

Complain files:

“OneWest also made false statements concerning its own status as beneficiary, as well as the beneficial status of others. These statements were made in a variety of contexts, including the context of the trustee’s sale bidding process and in the avoidance of transfer taxes” (County of Alameda, P: 4).

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This was only what we’re reported by two single reports earlier in the recent years, but there been questioning about the merger for OneWest with another Bank. Therefore the reality of their ways of foreclosure should have stopped and should have been looked into, as the malpractice for a quick profit. The profits of the OneWest bank we’re earned in a very disgraceful way:

“After foreclosing on almost 8,000 homes here in LA County, how can OneWest Bank say with a straight face that they’ve been a good community partner or that this merger is going to somehow help our communities?” Kinlaw said in a statement. “Foreclosing on families meant billions in profits for the billionaire owners of OneWest, but it came at the expense of families who were thrown out of their homes.” (…) “Stein said the coalition is composing a letter that will ask the Consumer Financial Protection Bureau , U.S. Department of Housing and Urban Development and the Department of Justice to conduct a fair housing and fair lending investigation into OneWest’s lending practices” (Smith, 2015).

So there wasn’t only the Attorney General of California who knew there was malpractice and unlawful activity from the OneWest on their practices on the foreclosing of their properties to secure more funds. As they bought into funds with loans and defunct debt that could give the bank property as collateral and resell the properties for more profits, especially if they fixed the contracts and back-dates so the home-owners could be sealed off or resold in subsidiary of the OneWest.

So with the knowledge of these actions, these vulture capitalists shouldn’t be running the Administration. The Administration should make sure these men and woman doesn’t get power. Because their loose, laisses-faire economic regime might loosen the regulations and will lead to more quick profits, but hurt the bottom-line, the public! Trump Administration will favour possible vultures and people who do anything to earn bucks, with no concern of the outcome for the average families and the working-class, the ones that initially got them in power. That the ironic part is the ones that exhausted and gave way for the Administration is the ones that will suffer for the economic programmes from the coming term of presidency.

Steve Mnuchin has only been in business to get wealth, by any means; his business savvy way of OneWest proves the way of use all ways to gain profits. OneWest proves that they didn’t care about how they earned their profits on foreclosures, even if they twisted documents and their ways of buying titles. As long as this is known the vulture of Mnuschin should be known and not be put away in some chamber. Instead it should be questioned if he is fit to be Secretary of Treasury and be a part of the Administration at all! Peace.

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Reference:

California Reinvestment Coalition (CRC) – ‘Fact Sheet: OneWest Bank Expected to Receive Over $2.4 billion from the FDIC’ (12.04.2015)

State of California Vs OneWest, FSB, Federal Saving Bank and DOES – Complaint for Civil Penalties, Permanent Injunction, and other equitable relief – County of Alameda

Department of Justice – MoU: ‘Executive Summery – Request for Authorization File Action against OneWest Bank, FSB OneWest Investigation (SF2012105513) – 18.01.2013

Smith, Kevin – ‘Coalition seeks investigation of OneWest foreclosures’ (09.05.2015) link: http://www.sgvtribune.com/business/20150609/coalition-seeks-investigation-of-onewest-foreclosures

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