Securitization Fraud DEUTSCHE BANK, SECURITIZATION FRAUD AND FORECLOSURE FRAUD

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Archive for April, 2011
DEUTSCHE BANK, SECURITIZATION FRAUD AND FORECLOSURE FRAUD

Lynn E. Szymoniak, Esq., April 23, 2011

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On April 13, 2011, the Permanent Subcommittee on Investigations of the U.S. Senate released a report titled “Wall Street and The Financial Crisis: Anatomy of a Financial Collapse.”

Section VI of the Report, pages 318 to 639, is titled “Investment Bank Abuses: Case Study of Goldman Sachs and Deutsche Bank.” Part B of this section, pages 330 to 375, focuses on Deutsche Bank and is titled “Running the CDO Machine: Case Study of Deutsche Bank.”

The Deutsche Bank case study section is divided into the following areas:

(1) Subcommittee Investigation and Findings of Fact

(2) Deutsche Bank Background

(3) Deutsche Bank’s $5 Billion Short

(a) Lippmann’s Negative View of Mortgage Related Assets

(b) Building And Cashing In the $5 Billion Short

(4) The “CDO Machine” (5) Gemstone

(a) Background on Gemstone

(b) Gemstone Asset Selection

(c) Gemstone Risks and Poor Quality Assets

(d) Gemstone Sales Effort

(e) Gemstone Losses

(6) Other Deutsche Bank CDOs

(7) Analysis

The Analysis Section, pages 374 – 375, states the following clear condemnation of Deutsche Bank’s practices:

Deutsche Bank was the fourth largest issuer of CDOs in the United States. It continued to issue CDOs after mortgages began losing money at record rates, investor interest waned, and its most senior CDO trader concluded that the mortgage market in general and the specific RMBS securities being included in the bank’s own CDOs were going to lose value. Mr. Lippmann derided specific RMBS securities and advised his clients to short them, at the same time his desk was allowing the very same securities to be included or referenced in Gemstone 7, a CDO that the bank was assembling for sale to its clients. In fact, the bank was selling some assets that Mr. Lippmann believed contained “crap.” While the Gemstone CDO was constructed and marketed by the bank’s CDO Desk, which is separate from the trading desk controlled by Mr. Lippmann, both desks knew of Mr. Lippmann’s negative views. The bank managed to sell $700 million in Gemstone 7 securities which then failed within months, leaving the bank’s clients with worthless investments.

This case history raises several concerns. The first is that Deutsche Bank allowed the inclusion of Gemstone 7 assets which its most senior CDO trader was asked to review and saw as likely to lose value. Second, the bank sold poor quality assets from its own inventory to the CDO. Third, the bank aggressively marketed the CDO securities to clients despite the negative views of its most senior CDO trader, falling values, and the deteriorating market. Fourth, the bank failed to inform potential investors of Mr. Lippmann’s negative views of the underlying assets and its inability to sell over a third of Gemstone’s securities. Each of these issues focuses on the poor quality of the financial product that Deutsche Bank helped assemble and sell. Still another concern raised by this case history is the fact that the bank made large proprietary investments in the mortgage market that resulted in multi- billion-dollar losses – losses that, in this instance, did not require taxpayer relief but, due to their size, could have caused material damage to both U.S. investors and the U.S. economy.

“Mr. Lippmann” in the above summary refers to Greg Lippmann, Deutsche Bank’s top global CDO trader. Regarding Mr. Lippman, the Senate report finds the following (on page 330):

By the middle of 2006, Mr. Lippmann repeatedly warned and advised his Deutsche Bank colleagues and some of his clients seeking to buy short positions about the poor quality of the assets underlying many CDOs. He described some of those assets as “crap” and “pigs,” and predicted the assets and the CDO securities would lose value.

At one point, Mr. Lippmann was asked to buy a specific CDO security and responded that it “rarely trades,” but he “would take it and try to dupe someone” into buying it. He also at times referred to the industry’s ongoing CDO marketing efforts as a “CDO machine” or “ponzi scheme.”

“Gemstone” in the above summary refers to a CDO that the Subcommittee chose to examine in detail called Gemstone CDO VII Ltd. (Gemstone 7). The Subcommittee report states the following (on page 331) regarding Gemstone 7:

In October 2006, Deutsche Bank began assisting in the gathering of assets for Gemstone 7, which issued its securities in March 2007. It was the last in a series of CDOs sponsored by HBK Capital Management (HBK), a large hedge fund which acted as the collateral manager for the CDO. Deutsche Bank made $4.7 million in fees from the deal, while HBK was slated to receive $3.3 million. It was not the last CDO issued by Deutsche Bank. Even after Gemstone 7 was issued in March of 2007, Deutsche Bank issued 9 additional CDOs.

Gemstone 7 was a hybrid CDO containing or referencing a variety of high risk, subprime RMBS securities initially valued at $1.1 billion when issued. Deutsche Bank’s head global trader, Mr. Lippmann, recognized that these RMBS securities were high risk and likely to lose value, but did not object to their inclusion in Gemstone 7. Deutsche Bank, the sole placement agent, marketed the initial offering of Gemstone 7 in the first quarter of 2007. Its top tranches received AAA ratings from Standard & Poor’s and Moody’s, despite signs that the CDO market was failing and the CDO itself contained many poor quality assets.

Nearly a third of Gemstone’s assets consisted of high risk subprime loans originated by Fremont, Long Beach, and New Century, three lenders known at the time within the financial industry for issuing poor quality loans and RMBS securities. Although HBK directed the selection of assets for Gemstone 7, Mr. Lippmann’s CDO Trading Desk was involved in the process and did not object to including certain RMBS securities in Gemstone 7, even though Mr. Lippmann was simultaneously referring to them as “crap” or “pigs.” Mr. Lippmann was also at the same time advising some of his clients to short some of those same RMBS securities. In addition, Deutsche Bank sold five RMBS securities directly from its inventory to Gemstone 7, several of which were also contemporaneously disparaged by Mr. Lippmann.

Footnote #1325 on paqe 347 shows the disdain for the products the traders were selling was widespread among the traders, as a trader sends a parody of a rap song to his boss at Deutsche:

Mr. Lippmann’s negative views were shared by his traders. In an email originally sent by one of the traders on his desk, Rocky Kurita, the CDO business is set to a song, “CDO Oh Baby,” by VanillaIce with the following lyrics: “Yo vip let’s kick it! CDO oh baby, CDO oh baby. All right, stop, collaborate and listen. Spreads are wide with a technical invasion. Home Eq Subs were trading so tightly. Until Hedge Funds BotProtection daily and nightly. Will they stop? Yo I don’t know. Turn up the Arb and let’s go. To the extreme Macro Funds do damage like a vandal. Now, BBs are trading with a new handle. Print, even if the housing bubble looms. There are never ends to real estate booms. If there is a problem, yo, we’ll solve it. Check out the spreads while my structurer revolves it. CDO oh baby, CDO oh baby.” 11/8/2005 email from Jordan Milman to Greg Lippmann, DBSI_PSI_EMAIL00686597-601 (forwarding an 11/8/2005 email from Rocky Kurita at Deutsche Bank).

Ameriquest Mortgage Securities, Inc. (AMSI) loans were part of the Deutsche Bank warehouse inventory that were included in Gemstone 7. On page 362 of the report, the Subcommittee finds that Mr. Lippmann was also very disdainful of the Ameriquest loans, but that he bought them to sell to investors:

On April 6, 2006, Mr. Lippmann called AMSI 2005-R7 M8 a “crap name.” In a June 16, 2006 email, Mr. Lippmann called AMSI generally a “weakish name.” On December 12, 2006, Gemstone 7 purchased $5 million of another RMBS, AMSI 2005- R11 M10, with no objection from the Lippmann trading desk. (footnotes omitted)

The Report has very many examples of Mr. Lippman and his colleagues and traders sending emails to each other wherein they repeatedly refer to loans and securities as “absolute pigs” and “generally horrible” and “crap” as Deutsche Bank was buying these very loans and securities to sell to investors. “Doesn’t this deal blow?” Lippman asks one of his traders (page 361), as they forge ahead with the deal.

The Subcommittee Report records in painful, exhaustive detail the building and collapse of mortgage securitization and in particular the role of two of the largest entities, Deutsche Bank and Goldman Sachs, in causing investors to lose billions while they reaped the largest profits in the history of their companies.

The Subcommittee Report focused on the financial collapse and Wall Street. The aftermath of that financial collapse was widespread unemployment and foreclosures.

If the Subcommittee had extended its investigation, it would have found that the trusts with the loans from the four mortgage companies identified as “crap” by Deutsche Bank’s traders became the top foreclosure litigants in the country as Deutsche Bank itself became known as “America’s Foreclosure King.”

When Deutsche Bank, as trustee, foreclosed, it was no more honest with courts and foreclosure defendants than it had been with investors. To prove to courts and homeowners that the trusts owned the mortgages in foreclosure actions, Deutsche Bank most often relied on documents produced by Lender Processing Services (“LPS”) to create mortgage assignments to the trusts when the mortgages had been originated by Ameriquest, Fremont, Long Beach and New Century.

LPS employees signed thousands of mortgage assignments as if they were officers of Ameriquest, Fremont, Long Beach and New Century.

Both the Alpharetta, Georgia and the Mendota Heights, Minnestoa offices of LPS produced these Assignments.

On these Assignments, the dates that the trusts acquired the mortgages are falsely stated.

These false Assignments were prepared from 2007 to at least February, 2010. When LPS stopped producing the Assignments, employees of other mortgage servicing companies continued these practices.

The Deutsche Bank trusts needed these Assignments because they failed to get Mortgage Assignments from the loan originators to the trusts – even though Deutsche Bank promised investors and the SEC they would get these mortgage assignments.

On tens of thousands of these LPS produced Assignments, the mortgage servicer is identified as American Home Mortgage Servicing. On the documents produced by LPS subsidiary Docx in Alpharetta, the servicer is identified in a box in the upper left-hand corner as “AHMA” or “AHCIT.”

AHMA is an abbreviation for American Home Mortgage Acquisition, the company that became American Home Mortgage Servicing in Coppell, Texas. American Home Mortgage Acquisition, owned by billionaire investor Wilbur Ross, (the “King of Bankruptcy”) purchased the $45.3 mortgage servicing business of bankrupt American Home Mortgage in September, 2007.

AHCIT is an abbreviation for American Home Citigroup. In February, 2009, Citigroup sold its servicing rights on 185,000 loans to American Home Mortgage Servicing (AHMSI) for $1.5 billion. Citigroup was one of the primary servicers of the Ameriquest loans.

Only a few courts have recognized that the LPS assignments were fraudulent and forged, even after former employees of Docx admitted on a segment of CBS “60 Minutes” to forging over 4,000 documents each day for several years.

No criminal charges have been filed against Deutsche Bank, Lender Processing Services or American Home Mortgage Servicing and all three of these corporations continue to pursue forecloses in courts throughout the United States using fraudulent mortgage assignments to trusts created by Deutsche Bank and sold to investors as the bank was shorting these same investments.

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4 Responses to “Securitization Fraud DEUTSCHE BANK, SECURITIZATION FRAUD AND FORECLOSURE FRAUD”

  1. goi June 10, 2012 at 7:02 pm #

    Some have ‘won’ their house FREE & CLEAR (I did..) Here’s the court order: http://www.scribd.com/doc/90184879/I-Won-my-House-FREE-CLEAR-Here-s-HOW
    Other have ‘lost’ their house [I did: lost rental houses] In these cases I was ‘self represented’ (ProSe/ProPer/SuiJuris/Etc)
    If we all got ‘free houses’: it would destroy the crunched economy we now have. However, banks/lenders should not be allowed to violate the same laws they lobbied to enact.
    Hence: if someone bought their house ‘no-down’ and now whine because it went down in value OR if someone used their house as an ATM to get a new boat/car/vacation/etc: They should ‘lose the house’.
    There are those who paid a down payment and kept equity. To those I say: don’t let the bank cheat you…!!!

  2. CAT2020 October 3, 2013 at 8:14 pm #

    THE USURERS OF DEUTSCHE BANK ARE RULING IN GREECE WITH SLAVERY, ROBBERY AND GENOCIDES

    1} THE GREEK POLICY IS COMPLETELY CONTROLLED BY DEUTSCHE BANK THROUGH ITS PUPPETS samaras AND venizelos.
    https://en.wikipedia.org/wiki/Antonis_Samaras https://en.wikipedia.org/wiki/Evangelos_Venizelos
    “Deutsche Bank writes German Finance Ministry’s Greek debt policy, ARD documentary reveals
    The German government’s policy on debt restructuring for Greece is lifted directly from policy papers prepared by the Deutsche Bank, it has emerged.
    The proposal floated at the beginning of June by the German Finance Minister Wolfgang Schäuble for a voluntary bond swap leading to a prolongation of the outstanding Greek sovereign bonds by seven years is based on a document by Deutsche Bank, investigative reporters from Germany’s ARD TV station have revealed.
    http://www.wdr.de/tv/monitor/sendungen/2011/0616/Griechenland.php5
    The Deutsche Bank document called “Proposal for Greek liability management exercise – burden sharing without haircuts” insisted, not surprisingly, on a voluntary participation by banks.
    The revelation that the Finance Ministry in Berlin just takes over the contents of policy papers of Deutsche Bank offers yet more proof that Chancellor Angela Merkel and Wolfgang Schäuble are puppets of the commercial banks.
    Merkel and Deutsche Bank CEO Josef Ackermann attended this year’s Bilderberg conference in Switzerland and would have had ample opportunity to discuss ways and means to expropriate yet more money from the tax payers under one pretext or another. ” http://birdflu666.wordpress.com/2011/06/17/deutsche-bank-writes-german-finance-ministrys-greek-debt-policy-ard-documentary-reveals/
    https://www.commondreams.org/view/2012/05/28-7

    2) DEUTSCHE BANK DEPRIVES THE GREEK PEOPLE OF THE MEDICAL INSURANCE
    ” Recently Greece took the «honor» of first place in Europe for reducing budget expenditures on health services. In particular, expenditures on medications were reduced from 5.6 billion euros (2010) to 3.8 billion euros in 2011 and to 2.88 billion euros in 2012. As a direct result of this, over 50 world pharmaceutical companies have discontinued shipments of medications to Greece. It has become common for relatives of hospital patients to have to run exhausting marathons from pharmacy to pharmacy in search of needed medications. There is an acute shortage of medical equipment. State hospitals are short around 6,500 doctors and 20,000 nurses and orderlies; massive numbers of medical professionals are leaving the country.
    Even those who are employed have difficulty paying for medical services, whose prices have abruptly shot up. More and more often people don’t have the money to obtain quality medical assistance, especially in rural regions and on the islands. In a UN expert report published in May 2013, it was noted that over 10% of the total population of the country live in conditions of extreme poverty. Greece remains the only country in the Eurozone with no complex social assistance scheme, healthcare services are almost inaccessible to poor and low-income citizens, and almost a third of the population does not have state medical insurance. ”
    http://www.a-w-i-p.com/index.php/2013/08/24/greece-a-social-explosion-is http://www.keeptalkinggreece.com/2013/07/30/athens-sos-urgent-appeal-for-cancer-patient-without-insurance
    http://www.keeptalkinggreece.com/2013/07/31/austrian-ngo-supplies-greek-hospital-with-drugs-paramedic-material-for-uninsured-patients/

    3) GREECE IS ONE OF THE FEW STATES OF THE WORLD THAT KEEPS THE PRISON FOR DEBT AND THE UNIQUE IN EUROPE.
    ” Debts and Prison Penalties

    A debtor owing
    5,000 euro may go to prison to 12 months
    10,000+ euro – at least 6 months
    50,000+ euro – at least one year
    150,000+ euro – at least three years ”
    http://beforeitsnews.com/international/2013/04/greek-govt-seeks-military-camp-to-serve-as-prison-for-state-debtors-2455920.html

    4) DEUTSCHE BANK BLACKMAILS AND CUTS THE ELECTRICITY IF GREEKS DO NOT PAY EXORBITANT TAXES ON THE PROPERTY.
    http://www.guardian.co.uk/business/2011/sep/27/greece-property-tax-vote-venizelos
    http://www.keeptalkinggreece.com/2012/11/15/every-months-greek-ppc-cuts-electricity-to-30000-customers/
    http://www.keeptalkinggreece.com/2013/01/22/athens-citizens-protest-exorbitant-electricity-bills/
    http://www.keeptalkinggreece.com/2012/11/28/greek-christmas-five-extra-taxes-to-be-paid-in-december/
    http://histologion.blogspot.gr/2013/02/the-greek-debacle-2013-of-paupers-and.html

    5) GREECE IN CRISIS-DRAMATIC INCREASE OF SUICIDES: 3,124 PEOPLE IN 2009-2012
    http://www.keeptalkinggreece.com/2012/11/22/greece-in-crisis-dramatic-increase-of-suicides-3124-people-in-2009-2012/
    http://www.keeptalkinggreece.com/2013/04/15/athens-a-jobless-an-unpaid-worker-two-men-commit-suicide-on-a-single-day/

    6) ATHENS: DEAF-MUTE WOMAN THREATENING TO COMMIT SUICIDE RESCUED
    ” The president of Deaf Federation told reporters that the woman is not the only one in desperate situation because her social welfare allowances have been cut.
    “All deaf people in this country are in the same situation because they have not received their welfare allowances for the last 6-8 months.”
    Greece saw a sharp increase of suicides due to economic problems after the country sought the aid of the International Monetary Fund.
    According to Greek Police from May 2010 until now, 837 suicides have taken place. Greek police answered a relevant question on the number of suicides posed by several MPs at the Parliament.” http://www.keeptalkinggreece.com/2012/12/18/athens-deaf-mute-woman-threatening-to-commit-suicide-rescued/

    WHO CONTROLS DEUTSCHE BANK ?
    WE CAN NOTICE RELATIONS AMONG LORD JACOB ROTHSCHILD AND DEUTSCHE BANK.
    DAVID HAYSEY ” HEAD OF PUBLIC EQUITIES AT RIT CAPITAL PARTNERS ” AND IN THE PAST ” DIRECTOR AT J ROTHSCHILD CAPITAL MANAGEMENT ” HAS BEEN ” MANAGING DIRECTOR AT DEUTSCHE BANK ” http://uk.linkedin.com/pub/david-haysey/1b/470/bb3
    ” In 2012 RIT Capital saw management changes with the exit of investment director Mikael Breuer-Weil and the appointment of Ron Tabbouche. The first half of 2013 saw further changes with the resignation of David Haysey, head of public equity and manager of the RIT global quality portfolio. ” http://www.iii.co.uk/articles/110881/oriel-rates-lord-rothschilds-rit-capital-positive
    RON TABBOUCHE HAS BEEN SALES ANALYST AT DEUTSCHE BANK. http://www.trustnet.com/Managers/ManagerFactsheet.aspx?personCode=00000065RA&univ=O
    Today, Jacob [Rothschild] is Chairman of RIT Capital Partners plc, one of the largest investment trusts quoted on the London Stock Exchange with a net asset value of about £2 billion.[5] He is Chairman of J Rothschild Capital Management, a subsidiary of RIT Capital Partners plc. https://en.wikipedia.org/wiki/Jacob_Rothschild,_4th_Baron_Rothschild
    THERE ARE ALSO LINKS AMONG EVELYN DE ROTHSCHILD AND DEUTSCHE BANK.
    VERNON JORDAN, THE BIG FRIEND OF EVELYN DE ROTHSCHILD AND LYNN DE ROTHSCHILD, HAS BEEN A DIRECTOR OF DEUTSCHE BANK.
    http://www.companiesintheuk.co.uk/director/8570529/vernon-jordan-jr
    ” LYNN [the wife of EVELYN DE ROTHSCHILD] is the CEO of ELR Holdings and became a director of The Economist in 2002. She launched FirstMark Communications in the late 1990s and got EVELYN DE ROTHSCHILD, Henry Kissinger, Vernon Jordan (senior managing director LAZARD; close Clinton friend and advisor; friend of EVELYN DE ROTHSCHILD; permanent Bilderberg visitor), Michael J. Price (former managing director LAZARD), Nathan Myhrvold (former CEO Microsoft; PPI Task Force member), and others as its initial directors.”
    ” In late August 2004, Clinton and his wife Hillary, EVELYN DE ROTHSCHILD, LYNN DE ROTHSCHILD, Vernon Jordan, and Prince Andrew were all hanging out at the Vineyard at their very own “Anyone but Bush” party. Rothschild and Jordan were jointly celebrating their birthdays that day. Together with his wife he attended the 32nd Williamsburg Conference in Delhi in 2004. ” https://wikispooks.com/ISGP/organisations/introduction/PEHI_Evelyn_de_Rothschild_bio.htm
    DEUTSCHE BANK IS CONNECTED ALSO WITH THE EDMOND DE ROTHSCHILD OWNED BY BENJAMIN DE ROTHSCHILD ( https://en.wikipedia.org/wiki/Benjamin_de_Rothschild ) AND BY HIS WIFE
    ARIANE DE ROTHSCHILD ( https://en.wikipedia.org/wiki/Ariane_de_Rothschild ).
    http://in.linkedin.com/pub/nicolas-hindi/31/912/265
    ” Deutsche Bank, now the number one derivatives- and currency-trading bank in the world through its City of London operation, survived to become what it is now — a monster with a $72 trillion derivatives portfolio — because it was massively bailed out in October 2008 by Timothy Geithner and the New York Fed.” http://larouchepac.com/node/26698

  3. CAT2020 October 3, 2013 at 8:15 pm #

    DEUTSCHE BANK MASSACRES SICK AND DISABLED PEOPLE IN UNITED KINGDOM

    1) UNITED KINGDOM IS A PROTECTORATE OF DEUTSCHE BANK
    http://blogs.telegraph.co.uk/news/maryriddell/100033519/with-bankers-as-his-friends-david-cameron-needs-no-enemies/
    http://www.independent.co.uk/news/uk/politics/163850bn-official-cost-of-the-bank-bailout-1833830.html http://www.mirror.co.uk/news/uk-news/conservative-party-links-to-fat-cat-103271

    2) DAVID CAMERON’S FAMILY FORTUNE : THE JERSEY, PANAMA AND GENEVA CONNECTION
    http://www.guardian.co.uk/politics/2012/apr/20/david-cameron-jersey-panama-geneva

    3) MAN WHO CAN’T TALK, WALK, OR FEED HIMSELF HAS HIS BENEFITS STOPPED AND IS TOLD TO PROVE HE’S UNABLE TO WORK
    http://bonniebonnbonnfocus.weebly.com/man-who-cant-talk-walk-or-feed-himself-has-his-benefits-stopped-and-is-told-to-prove-hes-unable-to-work.html

    4) ATOS BENEFITS BULLIES KILLED MY SICK DAD, SAYS DEVASTATED KIERAN, 13
    Atos is the company appointed by the government in order to cut benefits for sick and disabled.
    http://www.dailyrecord.co.uk/news/scottish-news/atos-killed-my-dad-says-boy-1411100

    5) ATOS ASSESSOR FOUND BLIND WOMAN FIT FOR WORK AFTER “WIGGLING HIS FINGERS” IN FRONT OF HER EYES
    http://tompride.co.uk/2013/02/25/atos-assessor-found-blind-woman-fit-for-work-after-wiggling-his-fingers-in-front-of-her-eyes/

    6) AROUND 4,400 PEOPLE COMMIT SUICIDE IN ENGLAND EACH YEAR – THAT’S ONE DEATH EVERY TWO HOURS – AND AT LEAST 10 TIMES THAT NUMBER ATTEMPT SUICIDE
    http://www.mentalhealth.org.uk/help-information/mental-health-a-z/S/suicide/

    7) MAN WITH TERMINAL BRAIN CANCER TOLD HE’S ‘FIT FOR WORK’
    “A man with terminal brain cancer is among those being told they are ‘fit for work’ under the government’s work capability assessment programme, new research has discovered.
    Other figures told they would lose their disability benefit included someone with no short-term memory mechanism and an incontinent disabled man who is both blind and deaf.”
    http://uk.news.yahoo.com/man-terminal-brain-cancer-told-hes-fit-000100005.html

    8) DEUTSCHE BANK ABOLISHES THE POSSIBILITY OF SICK AND DISABLED PEOPLE TO APPEAL THE DECISIONS THAT CUT THEIR BENEFITS CONDEMNING THEM TO DEATH http://blacktrianglecampaign.org/2013/02/09/wra-s-102-sched-11-clause-99-has-been-introduced-from-april-to-ensure-wrongful-fit-for-work-decisions-are-practically-impossible-to-challenge/

    9) 10,600 SICK & DISABLED PEOPLE DIED LAST YEAR WITHIN SIX WEEKS OF THEIR CLAIM ENDING
    http://blacktrianglecampaign.org/2012/10/04/10600-sick-disabled-people-died-last-year-within-six-weeks-of-their-claim-ending/

    10) BRITISH GOVERNMENT APPOINTS PRIVATE INSURANCE COMPANY UNUM IN ORDER TO DESTROY WELFARE SYSTEM
    http://blacktrianglecampaign.org/2011/09/07/new-labour-the-market-state-and-the-end-of-welfare/

    11) OVER 70 MPs CONNECTED TO COMPANIES INVOLVED IN PRIVATE HEALTHCARE
    http://socialinvestigations.blogspot.co.uk/2012/07/over-60-mps-connected-to-companies.html

    12) OVER 200 PARLIAMENTARIANS HAVE RECENT PAST OR PRESENT FINANCIAL LINKS TO COMPANIES INVOLVED IN HEALTHCARE
    http://socialinvestigations.blogspot.co.uk/2012/02/nhs-privatisation-compilation-of.html

    13) UNITED KINGDOM GOVERNMENT DENOUNCED FOR CRIMES AGAINST DISABLED PEOPLE TO INTERNATIONAL CRIMINAL COURT IN THE HAGUE
    http://www.mssociety.org.uk/forum/everyday-living/united-kingdom-government-denounced-crimes-against-disabled-people-internation

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