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Judge: Guardian must return $3.8 million in Gadsden case

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By William Thornton
An Etowah County woman will end up returning more than $3.85 million to her mother’s estate as the result of a judge’s ruling.
The case, decided last month in Etowah County Circuit Court, dealt with the conservatory and custodial duties of a woman appointed co-conservator of her mother. Circuit Judge George Day Jr., ruled that the woman, who has not been charged with any crime, “breached her fiduciary duty to her mother’s Conservatorship estate, has failed to properly account for her actions and the funds and assets under her control, all of which has caused substantial damage” to the estate.
Additionally, the Court awarded a judgment against the daughter in relation to the custodial accounts for the incapacitated woman’s granddaughter, totaling $393,509.
Chris Hamer and Rebecca Wright of the Hamer Law Group represented the incapacitated woman’s conservator, an attorney who was appointed after the daughter resigned as conservator. The case has also generated a federal court action.
“This case represents the most egregious breach of fiduciary duties we’ve ever seen,” Hamer said in a statement. “Cases involving misappropriation and misuse of assets by family members appointed as fiduciaries are especially distressing for all involved.”
As a result of the decision, all money in the estate has been accounted for, attorneys said. According to court documents, the daughter of the incapacitated woman became conservator of her then-77-year-old mother in 2014. The woman, who died earlier this year, had 12 children.

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Conservatives Successfully Conserve Massive Deficits

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WASHINGTON, D.C.—Conservatives in Congress proudly announced Monday they have achieved their goal of conserving massive budget deficits.

“These progressives want to destroy our country by getting rid of all of our traditions,” said Senate Majority Leader Mitch McConnell. “That’s why you need to vote for us conservatives—we make sure that our traditions are conserved, such as spending trillions of dollars we don’t have and expanding the size of the federal government every year.”

“American customs and traditions like an ever-expanding federal government must be protected,” said House Minority Leader Kevin McCarthy. “The progressives go a little too fast for our liking. When you vote for a Republican, you can be assured that we will hold the deficit steady at around $1 trillion per year.”

Many people have been wondering just what it is conservative politicians are supposed to be conserving, and they’re glad to finally have an answer. Some supposed that conservatives just wanted to conserve social order as manifested in traditional marriage, religion, and morals, but since they’ve been losing that battle for years, many people weren’t sure anymore.

“It’s nice to know that when I check the box with the little R next to it, I’m making sure our values, like spending trillions our grandkids are going to have to pay back, are being preserved,” said Republican voter Lila Billings from Idaho. “I’m helping!”

“From President George W. Bush to the Obama years and now the Trump regime, we’ve followed through on our promising to ABC—Always Be Conserving,” said McCarthy. “Conserving a sprawling government, reckless spending, and taxes that would have led to a revolution just 50 years ago.”

“You’re welcome.”

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Tell the U.S. State Dept: NO Keystone XL pipeline

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Marti —

I traveled to Billings, Montana today to stand in solidarity with landowners, Tribal Nations, and Water Protectors at a rally before the one and only public hearing being held by the U.S. State Department on the proposed Keystone XL pipeline.

Unfortunately, unlike the historic 2013 State Dept. hearing on KXL in Grand Island, Nebraska — where over 1,000 Pipeline Fighters turned out, and hundreds gave public testimony in front of their fellow neighbors and citizens for nearly 12 hours — the scene here in Montana is a sad excuse for a public hearing, where citizens must instead speak their concerns privately one-by-one into a tape recorder, or else write them out to submit on paper.

Despite this attempt to silence the voices of Pipeline Fighters with no true “public hearing,” it’s still crucial that we speak out.

The best way you can make your voice heard right now is to submit a written comment into the State Department’s new draft environmental review of the pipeline. Public comments are due by Nov. 18th.

Add your name: Submit a NoKXL comment to the U.S. State Department.

(Note: We encourage affected landowners living on the proposed KXL route to submit hand-written letters with your public comments on the pipeline directly to the State Department. Include docket number: DOS-2019-0033)

Mailing address:
Ross Alliston, Keystone XL Program Manager
Office of Environmental Quality and Transboundary Issues
U.S. Department of State
2201 C Street NW
Washington, DC 20520

I’m proud to stand alongside Water Protectors here in Montana today, and will make sure to relay all the concerns of landowners and Pipeline Fighters from back home in Nebraska when I speak directly to State Department officials at the hearing.

Make sure your voice in opposition to KXL is heard: Submit a NoKXL comment now.

Thanks for standing with us.

Jane Kleeb and the Bold team


P.S. Chip in to support Bold Alliance’s work.

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Bold Alliance
P.O. Box 254
Hastings, NE 68902 US

The Fed Fears an Explosion on Wall Street: Here’s How JPMorgan Lit the Fuse

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By Pam Martens and Russ Martens of Wall Street on Parade

JPMorgan Chase is the largest bank in the United States with $1.6 trillion in deposits from more than 5,000 retail bank branches spread across the country. When it withdraws liquidity from the U.S. financial system, that has a reverberating impact. 

According to the filings that JPMorgan Chase makes annually with the Securities and Exchange Commission (SEC), since 2013 JPMorgan Chase has spent $77 billion buying back its own stock. That includes the whopping $17.01 billion it has spent in just the first nine months of this year buying back its stock.

But here’s the shocking news. According to its SEC filings, JPMorgan Chase is partly using Federally insured deposits made by moms and pops across the country in its more than 5,000 branches to prop up its share price with buybacks. The wording in the filing is as follows:

“In 2019, cash provided resulted from higher deposits and securities loaned or sold under repurchase agreements, partially offset by net payments on long-term borrowing…cash was used for repurchases of common stock and cash dividends on common and preferred stock.”

Had JPMorgan Chase not spent $77 billion propping up its share price with stock buybacks, it would have $77 billion more in cash to loan to businesses and consumers – the actual job of its commercial bank. Add in the tens of billions of dollars that other mega banks on Wall Street have used to buy back their own stock and it’s clear why there is a liquidity crisis on Wall Street that is forcing the Federal Reserve to hurl hundreds of billions of dollars a week at the problem.

On September 17, the overnight lending rate on repurchase agreements (repos) spiked from the typical 2 percent range to 10 percent, meaning some very big lenders such as JPMorgan Chase were backing away from lending. That forced the Federal Reserve to jump in as lender of last resort, the first time it has done that in any material way since the financial crisis

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