I met this gentleman last month in Washington, D.C. He was one of us who gave speeches in the Rayburn House. Goldman Sachs snatched his mother (Lillian Glasser) and forced her into guardianship. Then proceeded to waste her entire estate. My heart goes out to both. Her son can only sit idly by and watch his mother get abused for money. Do these people have any sense of moral decency?!
His speech is here - http://www.youtube.com/watch?v=-nLThn3kw3o
Devon Bank invests their clients money (that they forced into guardianship) in Goldman Sachs. All of their clients too. Coincidental? Doubt it.
Sunday, July 31, 2011
Tuesday, July 19, 2011
North Shore "Live" Cooper's Corner
http://northshorelive.blogspot.com/
Host Bev Cooper has dedicated some of her programs to victims of Cook County Probate Court. She is releasing those shows on the Internet so everyone has the opportunity to watch them. Live broadcasts are on cable channel 19 Wednesday nights at 7:30 PM.
Host Bev Cooper has dedicated some of her programs to victims of Cook County Probate Court. She is releasing those shows on the Internet so everyone has the opportunity to watch them. Live broadcasts are on cable channel 19 Wednesday nights at 7:30 PM.
Saturday, July 9, 2011
Devon Bank Review - March 2011
Texas Ratio - Two Stars (out of Five)
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of March 31, 2011 Devon Bank had $24.58 million in non-current loans and owned real-estate with $32.74 million in equity and loan loss allowances on hand to cover it. This gives Devon Bank a Texas Ratio of 75.05% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend - Two Stars (out of Five)
The Texas Ratio for Devon Bank increased slightly from 50.30% as of March 31, 2010 to 75.05% as of March 31, 2011, resulting in a negative change of 49.21%. This indicates that the balance sheet and financial strength for Devon Bank has declined slightly in recent periods.
Deposit Growth - Two Stars (out of Five)
In the past year, Devon Bank has decreased its total deposits by -$3.6 million, resulting in -1.4% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Devon Bank has shown is below average.
Capitalization - Four Stars (out of Five)
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Devon Bank has $281.46 million in assets with $32.74 million in equity, resulting in a capitalization level of 11.63%, which is above average.
PREDICTIVE INDICATOR
As stated, we have determined a composite Star rating for this bank of 1*, indicative of a significantly below average financial condition. At times, financial conditions of banks change rapidly and significantly. Hence, our Safe & Sound Star ratings should not be deemed predictive of likely future ratings. However, in view of early warning indicators set forth within this report, in combination with the institution's financial data, we believe that the Star rating for this institution is unlikely to change within the ensuing twelve month period.
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of March 31, 2011 Devon Bank had $24.58 million in non-current loans and owned real-estate with $32.74 million in equity and loan loss allowances on hand to cover it. This gives Devon Bank a Texas Ratio of 75.05% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend - Two Stars (out of Five)
The Texas Ratio for Devon Bank increased slightly from 50.30% as of March 31, 2010 to 75.05% as of March 31, 2011, resulting in a negative change of 49.21%. This indicates that the balance sheet and financial strength for Devon Bank has declined slightly in recent periods.
Deposit Growth - Two Stars (out of Five)
In the past year, Devon Bank has decreased its total deposits by -$3.6 million, resulting in -1.4% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Devon Bank has shown is below average.
Capitalization - Four Stars (out of Five)
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Devon Bank has $281.46 million in assets with $32.74 million in equity, resulting in a capitalization level of 11.63%, which is above average.
PREDICTIVE INDICATOR
As stated, we have determined a composite Star rating for this bank of 1*, indicative of a significantly below average financial condition. At times, financial conditions of banks change rapidly and significantly. Hence, our Safe & Sound Star ratings should not be deemed predictive of likely future ratings. However, in view of early warning indicators set forth within this report, in combination with the institution's financial data, we believe that the Star rating for this institution is unlikely to change within the ensuing twelve month period.
Tuesday, July 5, 2011
New Power of Attorney Law in Illinois
New Law Shields Elderly Against Power of Attorney Abuse
A new law in Illinois took effect Friday granting critical protections to those, particularly older adults, who utilize the power of attorney.
Previously, those who abused their power of attorney roles as agents were not explicitly required to repay stolen or abused finances. The new measure also defines an agents role to act in good faith for the benifit of the principal estate in accordance with their preferences and expectations.
"A power of attorney is a responsibility that should be taken very seriously - it is not a license to steal," said Bob Gallo, state director for AARP Illinois. "Considering the broad authority granted in a power of attorney and the economic impact of financial abuse, it is critical that there are adequate protections in place for both the principal and the agent.
The agents must now keep financial records and are subject to having their agency revoked by the court or pay fines should they abuse their responsibility to the principal.
Financial exploitation in Illinois is the most commonly reported form of elder abuse, constituting nearly 60 percent of all elder abuse reports according to AARP Illinois.
Nationally, elder financial abuse costs victims more than $2.9 billion each year.
Public Act 96-1195 amends the existing Illinois Power of Attorney Act and was signed into law by Gov. Pat Quinn in July 2010. State representative Emily McAsey sponsored the measure, which unanimously passed in both houses in the General Assembly.
Source: http://www.nbcchicago.com/news/business/elderly-power-attorney--124890799.html#ixzz1RF5Daa4Y
A new law in Illinois took effect Friday granting critical protections to those, particularly older adults, who utilize the power of attorney.
Previously, those who abused their power of attorney roles as agents were not explicitly required to repay stolen or abused finances. The new measure also defines an agents role to act in good faith for the benifit of the principal estate in accordance with their preferences and expectations.
"A power of attorney is a responsibility that should be taken very seriously - it is not a license to steal," said Bob Gallo, state director for AARP Illinois. "Considering the broad authority granted in a power of attorney and the economic impact of financial abuse, it is critical that there are adequate protections in place for both the principal and the agent.
The agents must now keep financial records and are subject to having their agency revoked by the court or pay fines should they abuse their responsibility to the principal.
Financial exploitation in Illinois is the most commonly reported form of elder abuse, constituting nearly 60 percent of all elder abuse reports according to AARP Illinois.
Nationally, elder financial abuse costs victims more than $2.9 billion each year.
Public Act 96-1195 amends the existing Illinois Power of Attorney Act and was signed into law by Gov. Pat Quinn in July 2010. State representative Emily McAsey sponsored the measure, which unanimously passed in both houses in the General Assembly.
Source: http://www.nbcchicago.com/news/business/elderly-power-attorney--124890799.html#ixzz1RF5Daa4Y
Saturday, July 2, 2011
Abuse and Corruption Rampant in Probate Court of Cook County
By Nancy J Thorner
The end of life has many challenges for the elderly. It can be a fast or a long goodbye and might involve a transition to assisted living, a nursing home, or a live-in caretaker.
Now is the time to guard against opportunists, who like vultures are circling to claim flesh, whether the person is alive or dead, even if a large sum of money isn’t involved. For elder abuse bi-passes color, race or creed and extends also to disabled children.
Although the presence of wealth often brings out the worst in human kind, preying on the elderly can amount to nothing more than gaining access to the individual’s monthly Medicare, Medicaid, Social Security or Veterans Disability payments.
Read the rest of this true story at this link:
http://nancyjthorner.wordpress.com/2011/07/02/abuse-and-corruption-rampant-in-probate-court-of-cook-county-il/
The end of life has many challenges for the elderly. It can be a fast or a long goodbye and might involve a transition to assisted living, a nursing home, or a live-in caretaker.
Now is the time to guard against opportunists, who like vultures are circling to claim flesh, whether the person is alive or dead, even if a large sum of money isn’t involved. For elder abuse bi-passes color, race or creed and extends also to disabled children.
Although the presence of wealth often brings out the worst in human kind, preying on the elderly can amount to nothing more than gaining access to the individual’s monthly Medicare, Medicaid, Social Security or Veterans Disability payments.
Read the rest of this true story at this link:
http://nancyjthorner.wordpress.com/2011/07/02/abuse-and-corruption-rampant-in-probate-court-of-cook-county-il/
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