Felix Salmon » Blog Archive » Let’s hurt the American financial services industry Blogs : "second Administration addressed and dealt with a similar financial crisis as we in the U.S. are facing today. Then, before the invention of trucks and superhighways, it was the railroads and barge-lines trying to control the economy and make or break communities by charging more for goods and services, and or,discounting or increasing shipping costs. President Cleveland imposed price controls, nationwide shipping tariffs and signed into law Taft-Hartley.
Today we have banks, hedge funds, money managers, lawyers and insurance companies, in the financial services industry, unlawfully violating their fiduciary obligations with the bad faith depletion of trust funds and commingling those trusts res with personal or third party funds.
The U.S. “Corpus Juris Secondum” is specific that any party proceeding in bad faith ALWAYS has judgment entered against them.
International Trust Law is specific in the prohibition of a Trustee, or party with directorial authority, using that position of trust to gain ownership of the res of the trust.
Both are specific with penalties assessable for commingling even one penny of trust funds.
Both are specific with regards to limits of trustee and caretaker charges on trusts interest income and profits.
Is it lawful for a Trustee to earn ancillary profits by using, (abusing?), said position of trust for the sale of shares or stock in that very position, and or the trust itself, and fail to turn over all income above chargeable caretaker fees to the res of the trust? I think it is not lawful! What do you think?
For example;…WestLaw Publishing entered into a trust agreement with an individual A"
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