Leveraged-Lease Debt-Recovery Instrument - GMAC Insurance Fraud - Staged Man-In-The-Middle-Attacks - WTC Twin Towers - Phony Insurance Claim

From the Abel Danger White House Group to those whom it may concern

February 24, 2012

McConnell links Obama leveraged lease to a Twin Towers GMAC fraud

Field McConnell has linked Barack Obama’s design of a leveraged-lease debt-recovery instrument to a GMAC insurance fraud where the mortgage broker’s agents allegedly staged man-in the-middle attacks on WTC Twin Towers lessor / lessee in a phony double-occurrence claim.

Prequel:
Leveraged Leases In New York (1984) - British Invisibles (BI) - 350 PPM Carbon Cap - Joyce Foundation Director (1994-2002) - Larry Silverstein - WTC

“THE WORLD TRADE CENTER TOWERS COLLAPSE AS AN ENORMOUS INSURANCE SCAM. On the 23rd July, 2001, just seven weeks previous to the World Trade Center demolitions, the Port Authority of New York and New Jersey signed a deal with a consortium (Larry Silverstein, Westfield America Inc and Lloyd Goldman) led by Larry Silverstein for a 99 year lease of the World Trade Center complex. The leased buildings included WTCs One, Two, Four, Five and 400,000 square feet of retail space. The Marriott Hotel (WTC 3), U.S. Customs building (WTC 6) and Silverstein's own 47-story office building (WTC 7) were already under lease. Silverstein is seeking $7.2 billion from insurers for the destruction of the center. One would estimate that the chances of the insurers paying out, are close to zero, but the court case drags on. Here are few articles concerning the World Trade Center deal and consequent legal wrangle. .. April 26, 2001 Larry Silverstein, Westfield America Inc. (NYSE:WEA) and investor Lloyd Goldman have just clinched a lease on the World Trade Center, Manhattan's biggest real estate trophy. The 99-year net lease on the 10.6 million-square-foot office and retail complex lease was approved by the Port Authority of New York and New Jersey's Board of Commissioners at their meeting this afternoon. The deal covers four buildings at the World Trade Center: Number One and Two World Trade Center, better known as the Twin Towers; Four and Five World Trade Center, two nine-story office buildings and about 400,000 square feet of retail space. Numbers Three, the WTC Marriott Hotel and Six, the U.S. Customs House, are already under lease. Silverstein leases the 47-story office building at Seven World Trade Center. Despite talk that his team didn't have the equity in place and the set-back from a broken pelvis, Silverstein came through. His team's offer - which wasn't the highest the Authority had received, amounts to $3.2 billion on a present value basis. "This is a dream come true," Silverstein said. "When we first became associated with the Port Authority with 7 World Trade Center, we looked at the asset of the World Trade Center with tremendous interest. We will be in control of a prized asset. There is nothing like it in the world," he said. GMAC Commercial Mortgage is providing $833 million in first mortgage financing and is open to providing more, possibly a mezzanine piece, for a total investment that could grow to $1.3 billion. There was speculation earlier in the day yesterday that the $3.22 billion deal could fall through because the Silverstein team was having difficulty finalizing its financing, but the talk may have been the result of posturing on the part of the Port Authority. Silverstein and Westfield were runners up in the final bidding process for a lease on the 110-story towers and the Trade Center, losing out to a team led by Vornado Realty Trust. It entered into talks with the Authority on March 20 when Vornado was unable to reach a purchase agreement. Thanks in part to the holidays, the Silverstein team has had 30-plus days to work out a deal with the Authority and its team of advisers - J.P. Morgan Chase , Cushman & Wakefield and Milstein Brothers Realty Advisors.”

“Who Destroyed the WTC? (Connect the dots) .. Judge Walker opens his opinion with, "whether the coordinated terrorist attacks of September 11, 2001, whereby two jetliners separately crashed into the WTC, destroying both buildings, constituted one or two 'occurrences' under ... multiple insurance contracts." And concludes with, "The jury had before it evidence that none of the remaining nine insurers were bound to the WilProp form ... their hours limitation clauses did not specifically refer to losses caused by fire, aircraft, or acts of terrorism ... and the destruction of the WTC was caused by separate fires, resulting from separate collisions by separate aircraft into separate buildings." …. February 2008: The Port Authority lost its right to collect insurance money on the destroyed Twin Towers and much of the WTC when it leased the property two months before the 9-11 terror attacks. Federal Judge Barbara Jones limited claims by the PA to buildings that weren't leased to developer Larry Silverstein. The judge noted Silverstein had his own insurance. March 2008: Larry Silverstein joined in a suit by the Families of the Victims of 9-11 and is seeking $12.3 bn. in damages from airlines and airport security companies. He filed the claim in 2004, saying the airlines and airport security companies failed to prevent terrorists from destroying the WTC. The $12.3 bn. represented $8.4 bn. for the replacement value of the destroyed buildings [that he declared for insurance purposes as $3.9 bn.] and $3.9 bn. in other costs, including $100 million a year in rent to the PA and $300 million a year in lost rental income, as well as the cost of marketing and leasing the new buildings. Judge Hellerstein expressed skepticism about Silverstein's claim and asked why he had not stemmed his losses by just "walking away". Any trials in the case appear to be more than a year away. [Judge Hellerstein also played an important role in the 9-11 Victims lawsuits, judicially "blackjacking" them into settlements rather than lawsuits.] He ruled out testimony from top government officials raising serious questions as to why the judge would cover up and potentially obstruct government testimony and evidence under oath by key players when it would be in the interests of both parties to the suit. An atmosphere of intimidation was apparent when an attorney for the victim families explained that his clients wanted a trial not a settlement, to which Hellerstein retorted, "Sit down." The judicial coercion continued; attorney Schiavo told Hellerstein that she was also experiencing problems with "difficult clients" who were adamant about going to trial with full discovery and government witness testimony, to which the judge said, "This is the way it's going to be. Go back and you tell them we are going to settle, period." Hellerstein finally decided to personally "select and quickly hear" three cases "without any discovery or interruptions." Though remaining families want a trial, Hellerstein has been coercing them all along to negotiate a settlement with his "special mediator," Sheila L. Birnbaum.

Not one single September 11 Victim lawsuit has been permitted to proceed to a public trial by jury with testimony by major government officials, complete and unhindered discovery of documents and interrogation by career prosecutors despite meritorious evidence of prior knowledge of the attacks by the Bush administration. When Silverstein applied for $3.35 bn. in tax-exempt Liberty Bonds to help finance the Freedom Tower and his other buildings on the site, Mr. Bloomberg [mayor of New York] found a lever. The city and the state each control half those bonds, and the mayor said that he would not agree to the city's half unless Mr. Silverstein made certain concessions. Silverstein needed the Liberty Bonds because insurance proceeds, which amounted to about $4.6 billion, would not nearly cover the expected costs of the five towers [now $9 bn.].

Victim family attorneys have strangely failed to seek testimony from Ashcroft and Chertoff regarding the selection of Kenneth R. Feinberg as Master of the multi-billion dollar 9-11 Victim Compensation Fund which forced families to sign away their right to sue the U.S. government for criminal negligence. Feinberg’s law firm represented major insurance firms which would have lost billions in payouts if Congress had not used American taxpayer funds to cover expected losses by insurance companies. What is almost certainly the most sophisticated and complete understanding of exactly how and why the World Trade Center fell has been compiled as part of a secret proceeding in federal court in Lower Manhattan. But everyone fears that the closely held information may remain buried in sealed files or even destroyed.”

“[Spoliation inference that Obama administration has taken control of GMAC to conceal internal documentation which would otherwise prove Obama’s leveraged lease was converted into a credit default swap with the profits from the phony double-occurrence claim being used to finance Obama election campaigns] The company was renamed Ally Financial in 2010. It was founded in 1919 by General Motors Corporation as the General Motors Acceptance Corporation (GMAC) to be a provider of financing to automotive customers. Since then, the business has expanded to include insurance, online banking, mortgage operations, and commercial finance. The company was renamed Ally Financial in 2010. It was founded in 1919 by General Motors Corporation as the General Motors Acceptance Corporation (GMAC) to be a provider of financing to automotive customers. Since then, the business has expanded to include insurance, online banking, mortgage operations, and commercial finance. In 1919, GMAC branches opened in Detroit, New York, Chicago, San Francisco, and Toronto. In 1985, GMAC formed GMAC Mortgage after it acquired the mortgage loan operations of the Colonial Mortgage Service companies and the servicing arm of the former Norwest Mortgage, Inc. In subsequent years, the division acquired additional mortgage-related operations, including ditech.com, and in 2005 the division was reorganized into Residential Capital (ResCap). By that time, the company was heavily into subprime lending. In 2000, GMAC was given conditional approval to form GMAC Bank. In 2006, General Motors Corporation sold a 51% interest in GMAC to Cerberus Capital Management, a private equity company. (The next year, Cerberus acquired Chrysler Corporation.) Also in 2006, GMAC divested a majority stake of GMAC Commercial Holdings, its real estate division, to a trio of investors — Goldman Sachs, KKR and Five Mile Capital Partners — thereby creating Capmark Financial Group. Capmark later filed for bankruptcy and was acquired in part jointly by Leucadia and Berkshire Hathaway. On December 29, 2008, the United States Department of the Treasury invested $5 billion in GMAC from its $700 billion Troubled Asset Relief Program (TARP). On May 15, 2009, GMAC's banking unit changed its name to Ally Bank. On May 21, 2009, the U.S. Treasury announced it would invest an additional $7.5 billion in GMAC LLC, which gave the U.S. government a majority stake in the company. On December 30, 2009, the U.S. Treasury department said that they would invest another $3.8 billion in GMAC because the company had been unable to raise additional funds in the private sector. This raised the total government investment in GMAC to $16.3 billion. On May 10, 2010, GMAC Inc. announced that it re-branded itself as Ally Financial Inc. On December 30, 2010, the U.S. Treasury announced it would be converting $5.5 billion of interest-bearing preferred Ally stock into common equity. On March 31, 2011, Ally Financial filed with the SEC for an initial public offering, although this has reportedly been delayed by the stock market volatility of summer 2011. On November 9, 2011, the bank announced it was considering filing for bankruptcy-protection for its ResCap mortgage unit, after the unit's loan write-downs of around half a billion dollars brought it close to the legally required net asset value threshold of $250 million. As of January, 2012, TARP had about $12 billion invested in Ally.”

Please visit the links below and support a PresidentialField election campaign in which Field McConnell will propose the creation of Runaway Grand Juries at all of the crime scenes associated with Twin Towers wrongful deaths and double-occurrence insurance frauds by the owner/custodians of GMAC (Ally Financial) in the Obama administration.

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