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EDITOR’S COMMENT: FINALLY! A law firm in Washington DC has filed a lawsuit against the OCC to reveal the documents, disclosures and findings of the agency relating to the banks, the OCC Foreclosure Review and related matters. These are the kind of actions that should be filed in my opinion against state and Federal agencies that are enabling the securitization myth, foreclosures, defective auction bid, corrupted title and severe economic damages to people who don’t even realize they are victims of a scam and instead feel guilty about not paying their fair share.
The principal is simple: in any case where an agency fails to do its duty, or in case where someone wants to know what the agency is doing the Freedom of Information Act and other laws can be invoked to force the agency to comply with its statutory duty to regulate, commerce, banks, recording or whatever the case might be. Generally it is called an action in mandamus, which an action against an agency to perform its duties as set forth in the enabling statutes.
Note that the law firm filed the complaint in its own name and not the name of any client. The case is pure and simple. OCC is supposed to do its job and we have right to know whether they a re doing it. Having failed to respond, they are sued and the court will make them reveal whatever is in their files, which in this case is likely to be very damaging to both the agency and the banks it allegedly regulates.
See also Yves Smith on this subject generally:
Wells Fargo’s “Reprehensible” Foreclosure Abuses Prove Incompetence and Collusion of OCC
http://www.nakedcapitalism.com/2013/04/wells-fargos-reprehensible-foreclosure-abuses-prove-incompetence-and-collusion-of-occ.html
I have been pushing lawyers to bring actions against agencies and even the courts — going to the Supreme Court of each state demanding that they set procedures and standards of proof that a re consistent with existing law and consistently applied in all lower tribunals.
Actions against the FDIC, Federal Reserve that are similar in nature are already in the pipeline. Give your support to these actions any way you can. Follow the cases carefully because it is probably these cases that are going to crack the TBTF myth wide open along with dismantling the theory that loans were securitized when in most cases the loans were not securitized, and the creditor — the real creditor — is left with an unsecured receivable subject to set off for payments made to the agents of the investors (insurance, credit default swaps etc paid to the investment banks and other participants in the fake securitization chain).
COMPLAINT: WILLIAMS & CONNOLLY, LLP v. OFFICE OF COMPTROLLER OF CURRENCY
http://4closurefraud.org/2013/03/29/complaint-williams-connolly-llp-v-office-of-comptroller-of-currency/
133043433-Gov-uscourts-dcd-159019-1-0


