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Archive for the ‘Wells Fargo Boycott’ Category

Homelessness – What Causes It?

Friday, January 4th, 2019

We have been studying this for years.  I can remember a time when there didn’t seem to be homelessness.  At least it was so carefully hidden most of us were not aware of anything except the romantic tale of the hobo who couldn’t live in a house – did not want to be closed in, but spent his life riding the freight trains from one place to another.  Little did we know that was real, except for the part about the hobo not wanting to live in a house and wanting to spend his life riding freight trains, cooking over fires he made from whatever he could gather that would burn, freezing to death along the railroad tracks, etc.  He was pictured in movies and other media as a happy camper living this life. There was usually happy music in the background when talking about such.

That was and is an extremely painful way to live and not one lived that way by choice.  What was also carefully hidden from John and Jane Q. Public was the fact that the hobo was the hobo he and some were the hobo she.    

I have always asked – why would a seemingly wealthy society allow such within its borders?  I have no answer.

Homelessness is caused by banks.  Oh, Wow!  I can hear the screams, objections and denials.  You can hem and haw.  You can object and protest.  When you sit down, clear your head and do the work and the investigation you will discover HOMELESSNESS IS INDEED CAUSED BY BANKS.

Within the bank, accountants and others sit and get paid to figure out ways banks can make more money at the expense of the middle class.  Sometimes banks hire consultants – usually outside accountants to do the same thing. “How can we charge for  services we don’t render.  How can we increase what we make on services we do render.”

Well lets take this one profit making pocket at a time.   What is the number one way banks cause homelessness?  House foreclosures.  How does that make so much money for banks?  

The fastest way banks cause homelessness and increase their profits exponentially in the process is through their ability to collect the real estate taxes (RET) levied on John and Jane Q. Public, by the government.  

Cities and other governmental entities are supposed to levy and collect their own real estate taxes.  In fact, that has been turned over to banks to do and it is done by banks in such a way that hundreds of billions of dollars flow into banks from this function.  Bank charges to city entities; fees of all kind levied on home owners for many reasons, etc. It is one of the reasons we have such huge banks and why it is difficult to impossible for the smaller banks to grow at the rapid rate seen in the larger banks.  

If you take out a mortgage with a bank – you most likely have to agree to paying your real estate taxes directly to them instead of to the city or other governmental entity.  Those RET are kept within the bank for at least six months doing nothing except making money and being used by the bank.  That is an amount of money the bank can “bank” on receiving and when and know it will be received with regularity and they know how long it will be in the bank.   From that they can plan how to use that money to increase their profits exponentially because you can’t come to withdraw any of that money, it has to stay put for the requisite period of time and when it has to be turned over it will have been a work horse for the time it stayed.  But – you should say – that money should be a work horse for the governmental entity to which the real estate taxes are owed.  

Look at how much better that money would work for you and me instead of being used to work against you and me keeping us poor or with a glass money ceiling over our heads. How did this happen?

This is one answer to the question – “How did banks grow so big!”  How come they have so much money!  Why are they so arrogant, independent, can be ugly to their own customers and still grow and stay in business. How can they throw so much money around (not the least of which is throwing it around political campaigns to keep the politicians beholden to them). This is one of the ways banks have grown so very large and are awash in hundreds of billions of dollars and it is a biggie.  It is also one of the ways banks promote foreclosure. – It is one of the ways they become the largest promoter of homelessness in this society.

 Homelessness is not about mental institutions which put its patients out on the street for lack of money to sustain, treat and cure them where possible? That is the marketing/advertising campaigns that are out there to mislead us all.  NO! Susie.  It is not.  That is and was a smoke screen.  Homelessness can be traced directly back to banks as its beginnings and root cause.  And, banks are a causer of homelessness dates back beyond the founding of these United States.  Banks have had this role for eons of time.

There is no reason for banks to collect real estate taxes on houses.  The taxes have work to do taking care of different needs of the people who pay the taxes.  If your real estate taxes must sit for six months in a bank – having been paid some six months before they are due so the bank can have that bit of huge money inflow to help it grow ‘big time’, that is a ‘big time’ problem for the people for whom those funds should be working.

The money paid to banks far in advance of when the city says they are due should actually be working to gain more income for you or for the city – if indeed it is not obscene and a violation of your rights to make such a requirement.  In fact, almost all of the real estate monies are collected in this country by banks; sit in the bank working very hard for the bank; and earning untold billions to help grow that banks strength and reach into the community.

Many games are played around real estate taxes and banks.  We, the tax payer,  assumes the present system is the way it should be and we go along with the program – much to our detriment.  We make that assumption because we don’t think of ourselves and our rights. We accept what is, if it is dressed up in Patrician clothes and exhibits the mores of a Patrician class.

Banks collect RET (Real Estate Taxes) on a monthly basis from people who acquire mortgages from them.  The people must then repay the mortgage, usually monthly,  along with 1/12 of that years real estate taxes each and every month.  The bank keeps that money and uses it because real estate taxes are usually only paid by the bank to the city every six months.  The average mortgage holder much pay their real estate taxes monthly and six months in advance of their being due. 

This is an inviolable thing.  No one questions it – and it goes so unquestioned that banks can foreclose and they do foreclose on homes and families even if the mortgage is paid in full each month.  If the real estate taxes are not paid six months in advance the foreclosure happens – not by the city because it does not see taxes owed by citizens and does not foreclose if a citizen misses one six month period of paying taxes, but the bank does this on a regular basis.  Claiming a person is behind in their mortgage even though that is not true and even though the taxes – which they are behind in paying – are taxes, amounts of money, not due for another month or two.

To put that in its proper context. Banks make substantial sums of money on funds that stay in the bank overnight. And they maximize that in every way possible. These are funds that stay in the bank for six months, definite, not able to be withdrawn, tied up in the bank no matter what. Imagine the money made on that. The bank pays a very small amount of “interest” to the mortgage holder on their “escrowed real estate taxes” – minuscule to the amount it is making on those funds.

When that happens – add a little push to get the family headed into financial problems which results in the house being foreclosed, and banks have been known to do this frequently.  Add a minority to whom the bank has given a mortgage; add a minority who has somehow skipped past the banks red-lining policy; add to that a property which has a very small mortgage compared to the large equity position of the property owner – no matter the race, color, class, ethnic origin, religion of the property owner and, in a bank with lousy ethics which is or is bordering on becoming a criminal enterprise, another game usually moves hand in glove with the real estate taxes game.

Banks have been known to target families where there is a large gap between the value of the house and the balance of the mortgage.  When a person has a small mortgage and a large equity position they are sitting ducks for a bank to salivate over future profits.

That was out of control during the last recession and banks were so overcome running where their greed pushed them that our banking system almost collapsed.  Their greed overcame their ability to function any other way.  Many bankers and realtors became wealthy with such a scheme – one amongst many.  Many individuals faced poverty, bankruptcy, homelessness – especially homelessness.

 More on this story in another blog.  Maybe even a few real life stories!

__________________________________________________

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Project 1 – Estate Sales after the Sale

Project 2 – Wells Fargo Boycott

__________________________________________________________

Want to join us? Have a home that you want to open to become one of Bettina Network’s Hedge Schools? Call us and lets talk – or email us.

Ed. Note: Members of the Bettina Network Lifestyle Community can contribute to the Bettina Network Blog whenever they have anything they want to say and be heard by this fantastic group of people. Send your blog to bettinanetwork@comcast.net or mail it to us at P. O. Box 380585 Cambridge, MA. 02238 or call us on the telephone at 617-497-9166 to tell us what you want to say and we will write it for you.

Volunteer with Bettina Network Foundation, inc. to work estate sales; to help move items from one home to another; to contribute your ideas on how we can better use our resources in this effort to relieve and eliminate homelessness and poverty. We also need photographers; designers; and more. However much or little time you have, we are grateful.

Send your event information to be included in Bettina Network’s Menu of Events to: bettina-network@comcast.net

This is a curated blog so you cannot write your responses at the end of each entry. TO RESPOND TO THIS BLOG email bettina-network@comcast.net or info@bettina-network.com

TO LEARN MORE try www.bettina-network.com

Wells Fargo Boycott continued! – #WellsFargo

Monday, December 3rd, 2018

The response has been overwhelming.  Hope you will all continue to work with us to promote and make this a successful action.  Your future and ours depends upon it.  As we receive stories from you, we will publish them in Bettina Network’s Blog.

Your story of your experience is a very strong weapon.  Not only is it your story, but you will find millions have had the same experience.  Sharing lets you know others experience the same thing and it is a pattern and practice of that particular corporation to oppress and rip off its customers.

And don’t forget – close your Wells Fargo banking connection on every level: – close your savings account – cancel your checking account – sell your stock in Wells Fargo – ask corporations to change their transfer agent if it is Wells Fargo connected (the head of Equiniti, the current group which is the transfer agent for many corporations – was formerly the head of Wells Fargo Shareowners Corporation and many of Equinti’s employees were formerly employees of Wells Fargo Shareowners Corporation, clearly this is not a new company, but a new corporate filing to escape the problems created by the old corporation)

If you own stock with Equinity or Wells Fargo Shareowners Corporation as the transfer agent and the corporation won’t change, sell the stock and buy stock with other transfer agents in charge.  Isn’t it amazing how a simple thing like a corporation charged with  bookkeeping can wield such control over the lives of many?

 

TODAY’S STORY

Intimidation is a large weapon in a bank’s arsenal.

Whenever you call a bank which is trying to hide, intimidate, scare, rip you off in some way no matter how small – especially if you are calling about a complaint, the bank employee who has called you or who you have called reads this “notice” to you that “this call is being recorded”.

I had a very negative experience with Wells Fargo about such calls.  They attempt to use those “recordings”  to make claims against me which were not true.  Before that happened to me I had no problems talking to the bank even after they read the “recording announcement”.  Since you have no way to counter the claims the bank can make at subsequent times because they have the only record of your conversation with them you are in a lose, lose situation.  Even if you took careful notes of the conversations you had with the bank, their claim backed up by their recording wins the day.  It is meant to back you off and get you to drop whatever complaint you are making against them no matter how legitimate.

In my case, what they claimed was not true, but they backed up their claim with a recording of a conversation I had with a bank employee.  It was neither a total nor accurate record of the conversation.  I had nothing – they had what was a doctored recording.

What to do?  I went out and bought a simple recording machine which could be plugged into my telephone.  Whenever I have a conversation with a bank during which they announce that they are “recording” the conversation, I let them know that I need just a second to set up my recording and I will be recording my end of the conversation.

The bank employee then ends the conversation because they are not allowed to participate in a conversation where they are recording and you are recording the same conversation.  Only conversations where they have the upper hand because they are recording the conversation are allowed in their universe.

If they have anything to say to me, they can say it in writing.  And, I can respond in writing.  If the bank wants to record the conversation you know there is something going on under the table that honesty has left the room.

_

______Ways to Contact Wells Fargo Bank to let them know you will not do business with them

Corporate Headquarters*

420 Montgomery Street
San Francisco, California 94163
United States
Phone: 866-878-5865

___________________________________________

Learn More About How We Use Your Donation!

Donate to Bettina’s

$
Select Payment Method
Personal Info

Credit Card Info
This is a secure SSL encrypted payment.
Billing Details

Donation Total: $5.00 One Time

{amount} donation plus {fee_amount} to help cover fees.

Project 1 – Estate Sales after the Sale

Project 2 – Wells Fargo Boycott

_____________________________________________________________

Want to join us? Have a home that you want to open to become one of Bettina Network’s Hedge Schools? Call us and lets talk – or email us.

Ed. Note: Members of the Bettina Network Lifestyle Community can contribute to the Bettina Network Blog whenever they have anything they want to say and be heard by this fantastic group of people. Send your blog to bettinanetwork@comcast.net or mail it to us at P. O. Box 380585 Cambridge, MA. 02238 or call us on the telephone at 617-497-9166 to tell us what you want to say and we will write it for you.

Volunteer with Bettina Network Foundation, inc. to work estate sales; to help move items from one home to another; to contribute your ideas on how we can better use our resources in this effort to relieve and eliminate homelessness and poverty. We also need photographers; designers; and more. However much or little time you have, we are grateful.

Send your event information to be included in Bettina Network’s Menu of Events to: bettina-network@comcast.net

This is a curated blog so you cannot write your responses at the end of each entry. TO RESPOND TO THIS BLOG email bettina-network@comcast.net or info@bettina-network.com

TO LEARN MORE try www.bettina-network.com

 

It Is Time to Boycott Wells Fargo Bank! – #WellsFargo

Sunday, December 2nd, 2018

Bettina Network Foundation, inc. is calling on everyone to join in and actively participate in this boycott of Wells Fargo Bank.

For a very long time banks have been fundamental in making sure there is none to very little change in this society.  Racism, sexism, homophobia, class discrimination, who owns and keeps the wealth in this country and so much more are determined by your local bank – which is probably no longer local but is the branch or unattended outlet of a major, international banking plus other businesses institution.  And most notably they are majorly responsible  for homelessness.  Not entirely, to be sure, but they do maintain the structure – in tact – no matter how loud or long they protest their innocence.

What do they gain?  One thing is keeping us divided against each other so communication as to what they are doing is knowledge kept and known only to a few.

How is wealth created in these United States?  Through either real estate or stock.  Either through ownership of land – real property – as it increases in value, or through ownership in corporations as they increase in value.

Many people have tried to increase their wealth and have been stymied.  Mostly by the banks – even though we are not ignoring the role of other institutions. Unfortunately, in spite of our great educations, most of us are ignorant of how this happens and therefore it continues.

How has this happened?  Little by little we hope to unfold for you all of it so you can function with a knowledge that makes your actions and your life more productive.

Banks have in the past and still do today majorly maintain segregated neighborhoods through “red lining”.  They are helped in this endeavor by some realtors, but brokers, dealers, realtors can’t take all the credit.  Most of it goes to the banks.

Red lining is an old way of maintaining separation of peoples based on things like color, economic and financial status, etc. which has not gone out of existence.   It has just gone underground and periodically takes on new forms.  Banks do not maintain that separation of peoples only through red lining, they do it through the intentional destruction of neighborhoods targeted for “urban renewal” or for a change of a neighborhoods racial make-up or etc.  There are billions of dollars involved and to be made by those who are a part of such transactions along with the loss of lives, livelihoods and more.

Which bank is the most egregious bank of them all?  WELLS FARGO!

In spite of tens of thousands of dollars having gone into the legal process to get them to change and many other ways which have been tried to approach this problem, Wells Fargo is still ripping off the American public – and probably many overseas as well.  As a result of the legal processes, which they lost, the only change we can see is a new and improved marketing and advertising program which the bank has rolled out instead of making restitution in real ways to those they have hurt.  That marketing and advertising program is nothing more than smoke and mirrors to get you to continue doing business with them so they can continue doing that business as usual.  And lets not talk about fines, etc. imposed on Wells Fargo.  To you and me that is like money to go to the store to buy ice cream or a pizza given their overall finances.

The ugliness, which has hurt so many,  is still enshrined within the bank along with its structures and the people who carry them out.  Most are people who carry out these policies to put food on their tables and to keep a roof over their heads.  Many are people competing to have better food and a more expensive roof over their heads.  It is time to take another look at what you can do and how you – Wells Fargo employees – can contribute to bringing about basic change, accepting your responsibility for being one of those making the lives of others extremely difficult so you and yours can benefit.  There are ways you can help bring about basic change and maintain your job and your increasingly lucrative and going up the ladder of success lifestyle.  You don’t have to concentrate on or be involved in only the one – because you are likely to be one of those against whom you moved to make their lives difficult to impossible.  History shows that is probably going to be the result of your efforts, if you continue on the path you are now taking.

Exposure is one way!  Open the windows, throw open the doors and let fresh air flow through.  Let the general public know what is going on and what we can do to make basic change so we all benefit.

Bettina Network Foundation, inc. is calling one way we can all move towards changing this society for the better:

  1.  If you have a savings account with Wells Fargo – close it.  You can open it with another bank.  And yes,  all banks are complicit, but you have to start someplace.  One bank has to make change and one very large bank with lots of influence and which has been shown to be a bank which destroys lives, property, the quality of lots of peoples way of life and keeps on keeping on going down the wrong street ripping peoples lives apart is a good place to start.

2.  Once you have closed your savings account, let us know and let Wells Fargo know you closed your account and why!

3.  If you have a checking account with Wells Fargo – close it.

4.  And once again, let us know and let Wells Fargo know you closed your checking account and why!

5.  If you own stock in Wells Fargo – sell it.  And let Wells Fargo know you sold your stock in their bank and any subsidiaries you can find – let us know about the subsidiaries and let us and Wells Fargo know you sold your stock and why!

6.  And this is a biggy!  Do you own stock in other publicly traded corporations?  Check out who is the transfer agent responsible for keeping the records for that publicly traded corporation.  If it is Wells Fargo Shareowner Services or EG by Equiniti – demand that the corporation change its transfer agent and hire another totally unconnected to Wells Fargo.

Wells Fargo Shareowner Services, from our experience, did lots to hurt John and Jane Q. Public.  Instead of responding to what they did they simply changed their name, ignored the problems they created and kept on moving ahead.  This is common for many corporations.  It is time for this to stop and you have the power to stop these under handed activities.

A statement taken from Equinity’s marketing materials – “Even though Wells Fargo has sold its transfer agency business, our relationship with Wells Fargo remains strong. We will continue to use banking and brokerage services provided by Wells Fargo. Wells Fargo will continue to use us as its transfer agent.”

Today’s Story is only one, but it begins to unfold why we are promoting and managing this boycott and what we want changed?  Bettina Network Foundation, inc’s goal is to eliminate homelessness.  That is a growth area in this society and the ways it has been attacked have not worked.  It is time to look at the base reasons and eliminate and change them so everyone has food, shelter and work in this very wealthy society.  We do not need to continue on this path of the rich getting richer and the middle class becoming homeless.

TODAY’S STORY!

“We owned Dayton-Hudson stock and we owned Target Corp stock for decades. When
Dayton-Hudson became Target Corp. all of our stock became Target Corp. stock. We kept that stock for decades. When we needed to sell the stock because we needed the money
for business purposes and needed that asset changed to cash quickly – as promised it would be by Target Corporation and the Securities and Exchange Commissio – we had to go through Wells Fargo Shareowner Services.

When we contacted Wells Fargo Shareowner Services to ask that they sell the stock – it became a several years consumption of money, time, emotional energy and more.

A transaction that should have taken a few minutes to send a letter with the appropriate form – accurately filled out – and then the next step taken by Wells Fargo Shoreowner Services should have been just four days for the stock to be sold and just a very short time after that for the money to be deposited into my account.  That process  actually took almost three years. Why? We have many theories, but why is irrelevant. What is relevant is
that our money was kept and our access to an asset which the Securities and Exchange Commission supposedly is the watch dog agency to make sure things like this does not happen all were useless in the face of Wells Fargo. Whatever they did was accepted and acceptable and I was put in the position of first a supplicant – please get this done, I need my money;  through to a very angry woman demanding her assets be treated and acted upon per her request.

WHY did I have to go through this? Because the Direct Purchase Plan with Target Corporation gave Wells Fargo Shareowner Services – the transfer agent for Target Corporation – the right to keep the stock certificates of the stock we owned. I was told many stories as to why that was the best thing to do – “when you are ready to sell there is no issue with the stock certificates, they are in the possession of Wells Fargo Shareowner Services or whichever transfer agent Target Corporation was using and the sale of the stock will be stress free for everyone and able to be executed in minutes.”

That was a lie! If, for any reason one of those corporations wants to move against you without showing their hand because you are a political or other kind of nuisance, you have given them the ability to do just that and they will use it – to harass you and make your financial life a shambles at their discretion and Wells Fargo Shareowner Services was the champion at doing that.  Leave your stock certificates for safe keeping with their services and they control your asset and no one is going to come to your rescue.  Attorneys will, costing more than the stock is worth, but no one else moves to help no matter their job description or their mandate.

Target Corporation, in spite of going all the way up the ladder from Customer Service to the “investment” area to the CEO of Target Corporation refused any kind of help.  To them, the responsibility was with Wells Fargo Shareowner Services and they closed off communications of all kind.  Letters went unanswered, pleas went unheeded, the door to the Executive Suite slammed shut.  This was not their problem.  But – said I – this is your stock not Wells Fargo’s stock.  Mean silence prevailed.

It took almost three years of going back and forth with Wells Fargo Shareowner Services, the Securities and Exchange Commission, the Attorney Generals Office and more such institutions. When a lawyer became involved – only then were our wishes heeded.  At that point the asset was gone – attorneys don’t come cheap.  So while their goal was not fulfilled one way, it was indeed fulfilled in another way even more effective because it took my time, the asset and emotional energy to get to that solution.

When we started the process of asking that the Target Stock be sold, Wells Fargo Shareowner Services had just taken over as Target Corporations transfer agent. Today just three plus years later ownership of that Wells Fargo Shareowner Services has been transferred to Equinity. The same people are at the top and all through the ranks so what happened? Did their problems multiply because of the way they did business and the number of people they hurt that the easiest thing for them to do was not to make amends for their sins, but to transfer ownership so they did not have to take responsibility and did not have to correct their wrongs?  Talk to Equiniti and you will be told – sorry that is not our problem, we are not the company with whom you had problems.  Clean – swift – vicious!”

++++++++++++++++++++++++++++

That is a common way for such corporations to act and it is time for that to stop. If you hurt someone you need to make amends and make those people whole again at the same time changing the processes which caused the problem in the first place.

So we will go back to asking you to check your stock certificates on any stock you own – if the transfer agent is Wells Fargo Shareowner Services or if it is Equiniti, demand that the corporation whose stock you own change their transfer agent or you sell the stock and buy into another corporation which uses another transfer agent and let us and them know what you have done.

We will publish your story with or without your name depending upon your request to us. Why without the name of the person involved? Because retaliation by corporations is common and many have experienced unnecessary hassle and harassment and loss because of corporations trying to silence the public so they can be allowed to continue doing ugly, vile things without taking responsibility and without making those people whole.

Small steps in the right direction have been taken, in the past, by expensive and long lasting law suits from which almost no one benefits.  It is time for that to change!

Your basic responsibility is to the human beings with whom you inhabit this earth, to make it a better – more viable – kinder – gentler – more caring place to live without the ugliness we have all had to endure because of greed, power hunger and other such emotions and character flaws which have pervaded the institutions which are supposed to be there to help us navigate this world in a more flawless manner.

Please pass this along to as many people as you can possibly reach who you think need to read this message and to keep up with this boycott.

What do we need to continue, promote and make this a successful boycott?

Your ideas

Your time and energy to do the work of carrying this forward

Your money to help us meet the costs of such an action

______Ways to Contact Wells Fargo Bank to let them know you will not do business with them

Corporate Headquarters*

420 Montgomery Street
San Francisco, California 94163
United States
Phone: 866-878-5865
_______________________________________________________________

Learn More About How We Use Your Donation!

Donate to Bettina’s

$
Select Payment Method
Personal Info

Credit Card Info
This is a secure SSL encrypted payment.
Billing Details

Donation Total: $5.00 One Time

{amount} donation plus {fee_amount} to help cover fees.

______________________________________________________________

Want to join us? Have a home that you want to open to become one of Bettina Network’s Hedge Schools? Call us and lets talk – or email us.

Ed. Note: Members of the Bettina Network Lifestyle Community can contribute to the Bettina Network Blog whenever they have anything they want to say and be heard by this fantastic group of people. Send your blog to bettinanetwork@comcast.net or mail it to us at P. O. Box 380585 Cambridge, MA. 02238 or call us on the telephone at 617-497-9166 to tell us what you want to say and we will write it for you.

Volunteer with Bettina Network Foundation, inc. to work estate sales; to help move items from one home to another; to contribute your ideas on how we can better use our resources in this effort to relieve and eliminate homelessness and poverty. We also need photographers; designers; and more. However much or little time you have, we are grateful.

Send your event information to be included in Bettina Network’s Menu of Events to: bettina-network@comcast.net

This is a curated blog so you cannot write your responses at the end of each entry. TO RESPOND TO THIS BLOG email bettina-network@comcast.net or info@bettina-network.com

TO LEARN MORE try www.bettina-network.com

 

 


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