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SunTrust Bank Rating Falls

Detective Krum

Detective Krum

By: Detective Krum

Update 5/17/2009 SunTrust Bank’s rating has fallen again and is now rated “weak” and a “D+” and appears SunTrust Bank will need to be bought out or merged with another institution.

SunTrust Banks stock has gone from about 82 in 2007 down to 15 as of Friday May 15, 2009. Yet in January 2009 SunTrust Banks and Florida Trend magazine appear to have colluded to mislead SunTrust Bank depositors by publishing outdated material during the banking fiascos.

In addition, Pomerantz Haudek Grossman & Gross LLP (www.pomerantzlaw.com) (“Pomerantz”) has filed a class action in the United States District Court for the Northern District of Georgia against SunTrust Banks, Inc. (“SunTrust” or the “Company”) (NYSE:STI) and certain of its top officials and underwriters. The class action was filed on behalf of those who acquired SunTrust Capital IX 7.875% Trust Preferred Securities issued by the Company in its February 2008 public offering. The Complaint alleges violations of Sections 11, 12(a)(2), and 15 of the Securities Act of 1933.

Larry Prince (an insider at SunTrust)  purchased a total of 40,000 shares on 2/13/2009. Over the last 5 years insiders have on average purchased 34,290 shares each year.

SunTrust Banks  appears to be in trouble and you may want to consider another bank for your banking needs.

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May 18, 2009 Posted by | 1 | , , | 1 Comment

Congressmen Impeached

A great article by Detective Krum we post here because Americans have great issues at this time.

Congressmen Impeached
By: Detective Krum

Congressmen risk impeachment with another “bailout” as President Bush and others try to twist the arms of Americans through fear tactics.

Public Law No: 110-289 Found in the Federal Register at: http://www.archives.gov/federal-register/laws/current.html
Who Sponsored this bill? Sponsor:Rep. Nancy Pelosi [D-CA]
See full tracking at: http://www.govtrack.us/congress/bill.xpd?bill=h110-3221
Who Co-Sponsored this bill? ( 18 Democrats )

Cosponsors [as of 2008-08-30]
Rep. Xavier Becerra [D-CA]
Rep. James Clyburn [D-SC]
Rep. Rosa DeLauro [D-CT]
Rep. John Dingell [D-MI]
Rep. Rahm Emanuel [D-IL]
Rep. Barton Gordon [D-TN]
Rep. Steny Hoyer [D-MD]
Rep. Tom Lantos [D-CA]
Rep. John Larson [D-CT]
Rep. Edward Markey [D-MA]
Rep. George Miller [D-CA]
Rep. James Oberstar [D-MN]
Rep. Collin Peterson [D-MN]
Rep. Nick Rahall [D-WV]
Rep. Charles Rangel [D-NY]
Rep. Christopher Van Hollen [D-MD]
Rep. Nydia Velázquez [D-NY]
Rep. Henry Waxman [D-CA]

This bill is clearly unconstitutional. This bill provides for the government to change contract law. When a person applies for a mortgage the process includes an investigation, by the potential lender, regarding the borrower’s ability to pay the loan back. If the borrower’s reports show the borrower may not be able to pay the mortgage back and the lender still determines to give the borrower the mortgage, whose fault is this mortgage? Regardless, there is a contract entered into between the lender and the borrower. This is called “Contract Law”. For the US Congress to remove American consumers from the right of contract by renegotiating is fraud against Americans. (See law excerpts below).

Public Law 110-289 creates a new independent Agency (grows government even bigger) along with a ‘Board’ that is to ‘advise the (not yet appointed) Director with respect to overall strategies and policies in carrying out the duties of the Director under this title. It will be comprised of 4 members: the Secretary of the Treasury, the Secretary of Housing and Urban Development, Chairman of the Securities and Exchange Commission; and finally the Director, who shall serve as the Chairperson of the Board’. Who is representing the people?

HOPE FOR HOMEOWNERS PROGRAM … this section begins when this law becomes effective October 1, 2008 and automatically sunsets September 30, 2011; it is $300 Billion in size. It’s purpose, among other things, ‘is to create an FHA program, participation in which is voluntary on the part of homeowners and existing loan holders to insure refinanced loans for distressed borrowers to support long-term, sustainable homeownership; to allow homeowners to avoid foreclosure by reducing the principle balance outstanding, and interest rate charged, on their mortgages; to help stabilize and provide confidence in mortgage markets by bringing transparency to the value of assets based on mortgage assets; to target mortgage assistance under this section to homeowners for their principal residence ….’

To say this law is voluntary is an assault on American intelligence. This law costs every American $4 extra dollars showing extortion through legislation of unconstitutional actions by Congress. It is time to start impeachment or recall proceedings against Congressmen / Congresswomen who overstep authority. Why would Congress want provisions for homeowners in any bailout when:

1. That is what Public Law No: 110-289 was created to do.
2. Why are renters forced to pay?
3. Why is the Constitution being shredded with these laws?
4. Who has profited and how much have they profited from previous bailouts?

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September 24, 2008 Posted by | Victory 1 News | , , , , , , | Leave a comment