Democrats role’ in the foreclosure crisis suggests neither major political party cares about the people.
Did Democrat candidates keep their promises to act on behalf of the people and not the 1%?
You be the judge.
This is a campaign ad for Bob Ferguson, who is running for re-election as the Attorney General of Washington State.
Ferguson is the guy with glasses standing in the middle of the group of four people, who look like homeowners. The promise just below this photograph states: “Bob will Protect Homeowners and Hold Banks Accountable”.
Ferguson, like many Democrats empire wide, made the same claim last election cycle. He promised he would use his position as attorney general to protect homeowners.
Did Democrat candidates keep their promises to act on behalf of the people?
While Republican President George Bush bailed out the banks, it was Democratic President Barack Obama who followed up by allowing the banks to brazenly feast on people’s homes. It is the Democratic Party (the party which always claims to represent the interests of the people) which has been in charge of the greatest redistribution of wealth from the middle class to the rich in the history of the world.
So after promising to help them protect their homes from banks, what did AG Ferguson do to fulfill that promise? Astonishingly, he brought foxes in to the hen house. AG Ferguson hired bank attorneys and paralegals to “protect consumers“. Was this an act of bad faith towards homeowners? In my judgment: YES.
I frequently discussed with bank attorneys whether they might be happier representing homeowners. Every one of them told me they knew too much to ethically switch sides. What they meant is that because the factual and legal issues in all foreclosure cases are substantially related to knowledge they had gained in representing banks they could not represent homeowners. I did not question any of them further because I knew they were right.
Rule 1.9 of the Washington Rules of Professional Conduct requires lawyers who have routinely represented banks regarding foreclosure matters to not represent consumers in similar foreclosure proceedings without obtaining a waiver from their former banking clients to do so. What this means is that lawyers for the banks could not ethically take a position against banks in substantially related matters while they are working for the Attorney General as part of its consumer protection division.
Does anyone believe that placing consumer protection lawyers in such a nuanced ethical position to banks “will protect homeowners and hold banks accountable?”
Can Ferguson argue that consumers will benefit because these new attorneys will have access to information regarding how the banks litigate? Not really because each would be ethically prohibited from using such information to protect homeowners.
So who are these “wolves in sheep clothing” legal professionals who may have been hired by Ferguson to benefit his bank and law firm contributors at the expense of those homeowners he promised to protect?
Here are some of them:
Daniel T Davies. Davies was an attorney for Davis Wright Tremaine. Davies and his law firm, DWT, represented banks and MERS before being hired by Ferguson to work in the consumer protection division of the AGO. https://www.linkedin.com/pub/daniel-davies/7a/5b3/aab
Benjamin Roesch. Roesch was an attorney at Lane Powell. Lane Powell, also represented banks and MERS before likely taking a substantial pay cut to work in Ferguson’s “consumer protection division”. https://www.linkedin.com/pub/ben-roesch/4/753/675 (Roesh’s “Linked In” account appears to have been disabled.)
Jennifer Payne: Payne, a paralegal, worked for 17 years as a paralegal for RCO, a law firm representing banks and trustees, prior to coming over at the AG’s office. https://www.linkedin.com/pub/jennifer-payne/23/619/b94
Chris Bunger: Bunger worked as a legal assistant two foreclosure law firms, Weinstein, Pinson & Riley and Bishop White Marshall, before coming to work for the AG. https://www.linkedin.com/pub/christopher-bunger/60/208/113?domainCountryName=&csrfToken=ajax%3A6952937061783680757
Ron Melencio: Molenoco worked as a foreclosure compliance specialist for Cobalt Mortgage and Bank of America before coming to work for the Washington Attorney General. https://www.linkedin.com/pub/ron-melencio/a/7b6/5a1
Ferguson received many of his campaign contributions from banks and lawyers which represented the banks. Do you think his hiring practices are designed to benefit the banks, which financed his election, or homeowners, who had little money to contribute to his campaign?
How can we believe democrats care about the people, when their actions make it clear they do not?