Deutsche Bank Executive's La Cañada Flintridge Home Gets Occupied

By Dennis Romero Fri., Nov. 2 2012 at 6:34 PM

Occupy Fights Foreclosures

It was almost a year ago that the Occupy movement was plucked from its L.A. campsite, the lawn of L.A. City Hall.

But the movement is still going, and today occupiers targeted Deutsche Bank with a series of protests at a branch, at the German Consulate and, most interestingly, at a bank executive's La Cañada Flintridge home.

Two bus-fulls of demonstrators, in fact, ...

... descended on the house in the 4200 block of Commonwealth Avenue this afternoon, sheriff's Sgt. David Shoemaker told us.

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The demonstration started at approximately 2:30 p.m. and lasted maybe 20 or 30 minutes he said. At that point all but two protesters got on the buses, which left.

One of the remaining two said she had to go feed her cat, the sergeant told us. The executive complained to deputies about the one occupier remaining and deputies gave him an ultimatum to either leave or face being arrested on suspicion of trespassing, Shoemaker said.

He left.

So what's up with Deutsche?

For one, Occupy is mad about the bank's foreclosure on the Lucero family home in East Los Angeles. And, the group Occupy Fights Foreclosures argues:

There is a recorded pattern of Deutsche Bank AG ignoring U.S. laws and abusing housing rights in Los Angeles. Despite being in litigation with the City of Los Angeles and with the Federal government about their corrupt business practices, Deutsche Bank continues to fraudulently foreclose on American homes.

[@dennisjromero / djromero@laweekly.com / @LAWeeklyNews]

Tags:

Deutsch Bank, foreclosure, La Cañada Flintridge, Occupy, Occupy LA

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thenewcomer

Following is a list of settlements that not only acknowledge illegal behavior, but serve as evidence that the home-buyers were not the perpetrators of this fraud:

10/6/2008 – $8.68 billion dollar settlement with Countrywide for the State of California[1] – relief for home-buyers - ?

8/3/2010 - $600 million dollar settlement with Countrywide Financial with the New York City Pension Funds[2] – relief for homebuyers – 0

10/15/2010 - $67.5 million settlement with the SEC[3] – relief for homebuyers – 0

2/2/2011 – Former Countrywide executives make a $6.5 million settlement with California[4] - relief for homebuyers – 0

6/29/2011 – B of A settles with 22 institutional investors for 14 billion.[6] – relief for homebuyers – 0

7/20/2011 – Countrywide settles a class action suit for charging excessive fees to more than 450,000 borrowers. – relief for homebuyers - ?

12/21/2011 – Countrywide settles bias suit for $335 million dollars for discrimination[8] – relief for homebuyers – ?

With all the settlements and court cases regarding bank fraud still pending, the lenders are still allowed to foreclose and remove families from their homes. This is making countless families homeless and destroying the moral of millions of American citizens.

Yet the evidence tells us that these families have been lured into liar loans and later into default:

A) The FBI estimates that 80 percent of all mortgage fraud involves collaboration or collusion by industry insiders.[9]

B) Register of Deeds, John O’Brian has documented massive fraud.[10]

C) San Francisco study found 85% error in foreclosures[11]

D) Movies: Too Big Too Fail, Insider Trading, Margin Call, and most recently, We Are Not Broke

So for homebuyers the question is…why are we still paying for the fraud?

25 billion dollar 48 state settlement? Only 5 banks are involved and if they sell your servicing rights they do not have to settle - so relief for homebuyers is minimal per the Attorney General's office on 11/2/2012

now we have the 1 billion dollar lawsuit with B of A - relief for homebuyers - 0