March 18, 2016 I filed suit against Wall Street in the Federal District Court of North Carolina Western District ,Charlotte NC.Case 3:16-cv-00173 Complaint for poisoning the nations mortgage market, the financial collapse, the regulatory impact-Dodd Frank, and the disappearance of mortgage credit availability that followed. Specifically the extinction of ALT A stated income loans. Please see the most recent updates in this case below 10-1-2016 & 10-7-2016.
The premise of the case is pretty simple. Wall Street, specifically the subprime 25, their financiers, and rating agencies were negligent and fraudulent when they flooded the mortgage markets with bad loans. The financial collapse that ensued resulted in financial reforms namely Dodd Frank.Dodd Frank legislation which extinguished the mortgage products known as ALT A stated income loans. See New Law Ability to Repay tightens mortgage regulations.
Loans are products, there are many mortgage loan products with differing characteristics ALT A among them. ALT A Stated income loans were an available product in the pre financial collapse market. The Federal reserve bank of St. Louis did a study on ALT A mortgage loans from 1998 – 2007 and the data shows the product had tolerable default rates prior to the subprime bubble between 2004 – 2007. Here is an excerpt from the federal reserve banks conclusions of that analysis or you can read the analysis here. Alt A The Forgotten Segment of The Mortgage Market.
” The summary data indicate a shift of Alt-A originations toward a greater share of owner-occupied properties, adjustable-rate products, and cash-out refinances. This is accompanied by a deterioration of underwriting standards for a greater proportion of mortgages with lower documentation and higher loan-to-value ratios. Serious delinquencies on Alt-A originations rose sharply in 2006 and 2007, primarily for originations after 2003.”
“In their handbook chapter on Alt-A mortgages, Bhattacharya, Berliner, and Liber (2006, p. 189) remark that “the demarcation between Alt-A and subprime loans has been blurred. Over time Alt-A has expanded to include loans with progressively less documentation and lower borrower credit scores. At the same time, subprime loans have, on average experienced a slow but steady rise in average credit scores. A result of this convergence has been the creation of the so-called Alt-B sector”
Product negligence law says “A claim in negligence is based on the assumption that the manufacturer owes a duty of care to all those who can reasonably be expected to make use of its product”
I had a project and business development effort I began in 2007. In 2008 and again in late 2009 I obtained loan commitments on this project. Project delays as well as numerous other variables prompted funding the development efforts without borrowing. Thats putting your own capital and equity at risk on a project. But, it was also a simple conversion of the capital into a capital asset.
In 2012 personal capital began to run out and the need arose to borrow against the real estate holdings to continue the development work. However, financial institutions which had previously been willing to provide funding now stated Dodd Frank Reg B prevented them from mortgaging the property. Paying yourself to work on capital improvements was no longer an acceptable source of income. Dodd Frank Reg B would prevent us from borrowing against assets in which more than a half million had already been invested.
This forced a turn to, the only available source of rural credit, the USDA Farm Service Agency. A government run criminal enterprise which has provided three years and counting of living despotic tyranny and oppressive hell.
Had Wall Street subprime lenders not negligently poisoned the mortgage market, had they not seriously undermined the underwriting standards of the ALT A mortgage market, Dodd Frank would not have occurred, credit markets would not have contracted so significantly, and the little guy in this case with a half million invested in a viable business, and debt free property development, with a blemish free credit history would have been able to obtain funding on a low ratio loan to value farm winery business development effort and paid himself to work like any small business owner.
But For the negligence of Wall Streets subprime lending there would have been no need for Dodd Frank legislation and but for Dodd Frank and the credit crunch this small business would be up and running and not destroyed. How much has the DOJ claimed to have been awarded in damages for the actions of these firms? How much has been provided in restitution to individuals who got locked out of mortgage markets because they had solid credit and assets and no mortgage when these institutions brought the house down?
The journey has been a very long a painful one resulting in significant financial hardship. As of 4/25/16 the Federal court has not approved a request for In Forma Pauperis and the suit against Wall Street sits on the court docket having not been served. Since legal battles started more than 2 years ago request for In Forma Pauperis have been granted in all suits against the USDA, leading one to the conclusion the court is wondering if Wall Street should be held accountable for the negligence which caused a mortgage products extinction and the consequential damages to an individual who could reasonably have been expected to make use of the product.
Update 4-29-2016 As of this evening the court has not approved the In Forma Pauperis status. On three other separate fillings it was approved. What does that mean? Has the court been too busy? Did someone drop the ball? Usually they’ll deny an application if they believe the suit lacks merit however, they have not denied the application either, so are they having a difficult time with the question of merit or a difficult time with the truths about the courts it exposes? Or do they just plan on being instruments of tranny and despotic oppression? Who is is truly running the US Government? They say if you really want to know who the oppressor is look for the one who can’t tolerate true criticism.
Update 5-6-2016 As of this evening the court has not approved or denied the In Forma Pauperis.
Update 5-13-2016 As of this evening the court has not approved or denied the In Forma Pauperis.Therefore the court has not acted on the Complaint though its been in their possession for a month. This topic is worth a post all its own. Perhaps even a chapter in the book on how Un cvil the courts really are but that will have to wait. In the Federal Rules of civil Procedure Rule 1 states:
“They should be construed and administered to secure the just, speedy, and inexpensive determination of every action and proceeding.”
There is nothing just or speedy about a court leaving a proceeding waiting a month on approval for In Forma Pauperis status.
Rule 4 Summons (c) Service 3. By Marshall or someone specifically appointed states:
“The court must so order if the plaintiff is authorized to proceed in forma pauperis under 28 U.S.C. § 1915”
The court can dismiss a case at anytime if it deems the case malicious, frivolous, lacking in merit, or fails to state a claim upon which relief can be granted. Three separate courts have already found us eligible to proceed In Forma, one very recently. The Courts inaction appears based on effecting the judges will from some outside influence rather than making judgement on the facts of the case before them.Holding a case you intend to dismiss is intentional infliction of emotional distress.
Judges as I understand from the rules and Pro Se guides are not supposed to be influenced in their decision making by information outside that presented through proceedings to the court. Would reading this blog be outside the proceedings? While my blog generally gets daily activity I found the activity of April 6, 2016 interesting. Because Judge Robert J.Conrad has 3 magistrate judges. He had on his calendar for May 6, 2016 a scheduled status Conference, and on April 6, 2016 3 individuals heavily investigated the blog in search of information on me and my legal cases. See the blog activity.
Justice delayed is Justice denied.
Update 5-20-2016 By end of this 5th week the court has still not ruled on the motion for in forma pauperis. If the court finds Plaintiffs financially eligible and the complaint meritorious then Plaintiffs have a fundamental right for the case to continue and the court should require issuance and service of process. If the court finds for any reason the complaint is deficient then the court should allow for amendment of the complaint unless its deficiencies cannot be cured.
Justice delayed is Justice denied.
Update 5-28-2016 By end of this 6th week the court has still not ruled on the motion for in forma pauperis blocking process of service. Why would a Federal Court choose to hold motionless a case against Wall Street by a private citizen? Why would the court leave a private citizen tortured by their inaction? How powerless are the American people to hold Federal Courts accountable? Someone has been looking at various aspects of the RICO case and should be aware of 2 things 1. All known facts have not been disclosed and of significance 2. ” The Law itself is on trial quite as much as the case which is to be decided”
Justice delayed is Justice denied.
Update 6-3-2016 By end of 7 weeks the court has still not ruled on the motion for in forma pauperis blocking process of service. Why? If the court finds Plaintiffs financially eligible and the complaint meritorious then Plaintiffs have a fundamental right for the case to continue and the court should require issuance and service of process. If the court finds for any reason the complaint is deficient then the court should allow for amendment of the complaint unless its deficiencies cannot be cured.
Justice delayed is Justice denied.
Update 6-10-2016 By end of 8 weeks the court has still not ruled on the motion for in forma pauperis blocking process of service.
Update 6-13-2016 If the Court was granting Government notice as a potential defendant 60 days are up!
Justice delayed is Justice denied.
Update 6-18-2016 By the end of 9 weeks the court has still not ruled on the motion for in forma pauperis blocking process of service. As I’ve said many times. If a Federal Court wishes to ignore your civil rights – you have none.
Update 6-26-2016 The court is still stalling the proceedings it appears we have a vexatious refusal of a constitutional right by the government institution responsible for protecting them.
Update 7-04-2016 I saved my week 11 update for today Independence day. Many people believe the war of independence was about independence from Britain however, justification for the war, its root cause was the Kings denial of Due Process as promised in the Magna Carta. Which is precisely the root cause of all my legal proceedings against the U.S. Government.
“In every stage of these Oppressions We have Petitioned for Redress in the most humble terms: Our repeated Petitions have been answered only by repeated injury. A Prince whose character is thus marked by every act which may define a Tyrant, is unfit to be the ruler of a free people.” Declaration of independence Thomas Jefferson.
The denial continues V va la revolution!
Update 7-09-2016 – Denial of Service continues. It’s said of all things Due Process is fundamental fairness. Is this Due Process. The FRCP requires process of service in 90 day’s which will be up in 6 day’s; The court has never ruled on the motion to proceed in-forma which had it been granted required the court to process service. So if they fail to rule on the motion and then dismiss the case for failure to serve is that Due Process?
Update 7-16-2016 – 91 Day’s on the docket and Senior Judge Rober J. Conrad has yet to affirm or deny the case against Wall Street has Merit. Do you believe he has been unable to make that determination? Will he dismiss the case now with an unanswered motion to proceed informa for failure to effect service?
Update 7-23-2016 – 98 Day’s no change.
Update 7-23-2016 – 105 Day’s on the Docket Stalled by the Courts inaction.
Update 8-20-2016 – 126 Day’s on the Docket Stalled by the Courts inaction.
Update 8-22-2016 – From the Clerk of Court-
” Mr. Julian,
upon review of your case it appears that the motion is still pending at this time and is still waiting on a decision from the Judge. If you have any questions, please feel free to contact our office at 704-350-7400, thank you.”
Update 8-27-2016 – 133 Day’s on the Docket Stalled by the Courts inaction.
Update 9-10-2016 – 141 Day’s on the Docket Stalled by the Courts inaction. Note the Letter to Judge Conrad requesting a ruling to proceed this case was Docketed on 9-7-2016 but no ruling has yet occurred.The letter is on the blog as Letter to Judge Robert J. Conrad August 29, 2016
Update 9-24-2016 5 Months on the Docket and still stalled by the courts inaction. The only case filed in April assigned to Judge Robert J. Conrad which has not progressed in the court system. The letter of August 29, (see above) requested he either allow the case to proceed or dismiss it for lack of merit. He has done neither. To understand why we believe the court is stalling this case see the blog post Treason & The Good Ole Boy Network; The ABA Within
Update 10-1-2016 5 Months on the Docket and on September 27th 2016 Judge Robert Conrad denied the motion to proceed in forma pauperis. Why did it take 5 months to determine this? First on three other separate occasions including February and March of 2016 the Federal Courts granted plaintiffs in forma pauperis status. The court is well aware of the Plaintiffs debt stresses lack of employment, obstructions to employment and reliance on government assistance but denies the request. Plaintiffs can see no other justification for such action by this judge than a blatant attempt at obstruction of justice by the court. The Motion to this court filed 4/15/2016 was almost if not identical to the one granted by the Court of Appeals for the Federal district on 4/13/2016.
Update 10-7-2016 – After filing a motion on 10-6-2017 for reconsideration of the Courts denial of In Forma Pauperis status, Plaintiffs paid the Court cost and filed summons for issue with the Clerk of Court. Summons issued. Plaintiffs are in process of having these summons served.If this case has issues with merit, is deficient, or fails to state a claim, as the Federal Government has consistently pled and been granted. Then this Court has failed to abide by FRCP1 as the expended cost in this case just skyrocketed!
Boni Judicis Est Ampliare Jurisdictionem
Update 6-29-2017 14 Months on the Docket and the only conclusion a Plaintiff can draw is justice delayed is justice denied. The Federal Courts aiding Government tyranny.
Not a Pro Pro Se Per Se
Blue Ridge Springs,
Patriot Soldier of Misfortune.