Wednesday, March 26, 2008

First American Corporation - Goldman Sachs - Reuters Report

NEW YORK (Reuters) –
“Goldman Sachs forecasts global credit losses stemming from the current market turmoil will reach $1.2 trillion, with Wall Street accounting for nearly 40 percent of the losses.
Of the cumulative losses expected by these leveraged players, bad residential home loans will represent about half…”

No thanks to The First American Corporation for allegedly triggering this financial meltdown according to a number of lawsuits filed.

The suits charge a First American subsidiary with fraud. They accuse The First American Corporation and its subsidiary of irresponsibly delivering inflated appraisals for business reasons of its own!!!

Incidentally, what is First American’s market cap?

Are chances in favor of it being wiped out when and if confirmed guilty?

What a Good Riddance!

Friday, March 21, 2008

The First American Corporation - Forbes Follow Through...

Link: http://www.forbes.com/free_forbes/2008/0407/032a.html?partner=yahoomag

Forbes – Scott Woolley: “Title insurance firms rake in $18 billion a year for a product that is outdated, largely unneeded and protected by law, we wrote. Now New York home buyers are leveling the same charges in an antitrust suit against the insurers, including First American (nyse: FAF) …”

Over the years, The First American Corporation figured that fines imposed against it in multiple States & lawsuits were just part of the cost of doing business in an environment that allowed First American to ruthlessly bleed the public.

However with ever increasing lawsuits alleging fraud, profiteering and racketeering against The First American Corporation, how much more will the First American Corporation be required to set aside in reserves in order to face the mounting multi million dollar claims piling up against it?

Can Attorney Generals from multiple States, the public and the lawyers be forever wrong?

Monday, March 17, 2008

First American Corporation makes Xinhua News

It is interesting that the First American Corporation should make news in Xinhua Province, China, http://news.xinhuanet.com/english/2007-11/02/content_6997622.htm Editor Gareth Dodd of Xinhuanet, www.chinaview.cn chose strong words to report on the fraudulent and scandalous behavior of First American Corporation that helped trigger the mortgage market international meltdown.

Is the Xinhua news attempting to warn the Chinese population about the high risk and low reward of doing business with First American?

Should Xinhuanet further investigate and expose First American? How long does it take for The First American Corporation to settle substantial claims on average? How much could an insured be forced to spend over the years in pursuit of justice? How often does First American win by default by driving legal costs out of the reach of the average claimant? Does that explain why The First American Corporation has only paid as little as 3% of its billion dollar revenues in claims?

Of further interest it is to be noted that AP Singapore reports that in a recent e-mail, Southeast Asia's largest bank instructed traders in an e-mail not to do business with Lehman Brothers. In a subsequent e-mail DBS Group Holdings Ltd. advised traders to review new transactions (with Lehman Brothers) case by case.

On a case by case basis, should officials from South East Asia’s largest bank be made aware that Frank McMahon was a past senior exec of Lehman before joining The First American Corporation and that Frank may well some day attempt to dump FAF (NYSE trading symbol for The First American Corporation) stock onto the Asian markets just as he did on European markets through Lehman London offices shortly before the stock imploded!

Thursday, March 13, 2008

Will The First American Corporation Split in time...

OR Will it be driven into bankruptcy beforehand?
Source: International Oxford Analytica 03.12.08, 6:00 AM ET
A Think tank group reported on NY’s Attorney General: “Cuomo's investigations … tend to target conflicts of interest whereby companies have allegedly exploited consumers … and reflect a more proactive approach to the subprime crisis.”
“Last November, Cuomo filed a lawsuit against mortgage lender First American (nyse: FAF - news - people ) for allegedly conspiring with Washington Mutual (nyse: WM - news - people ) to inflate its real estate appraisals.”
“Cuomo believed fraudulent real estate appraisals were a key factor in artificially inflating real estate values and contributed to the subprime crisis.”
Obviously this case, with international implications, has potential crippling financial consequences for FAF.

If Cuomo and his helpers who are pursuing this case aggressively prove to be right,
The First American Corporation could well face claims running into hundreds of millions of dollars from defrauded parties.
Because Cuomo's office lacks the resources to mount intensive investigations of subprime legal violations, much of the heavy lifting in multiple ongoing probes is now being done by the Securities and Exchange Commission, The U.S. attorney's offices in Manhattan and Brooklyn and the FBI. Cuomo and other state attorneys general--in Connecticut, Maine, Massachusetts and Ohio--are playing an unofficial watchdog role, informally overseeing the activities of federal officials.
If Cuomo prevails in time, First American may well be stopped from splitting and find itself driven into bankruptcy instead.

Note that in my personal case, The First American Corporation did not hesitate to engage into fraud and to accept an overly inflated appraisal from my crooked partner. Like in the WAMU case The First American Corporation did so, solely in the hope of future business! See Jerome Lasky’s opinion (Moses & Singer, NY.) as disclosed previously on www.lleclezio.blogspot.com

In the light of the above it would appear that fraud spanning many years is systemic at The First American Corporation. Hopefully, this time, James J. Dufficy will not succeed to corrupt his old work pals at the FBI and get them to squash the case!

In any event, those touting Jan ’09 calls at $50 are nothing but paid FAF shills wearing a variety of hats to best serve the corporation and further defraud the public. Their orchestrated punch and counter punch tactic is a well thought out psychological strategy. It emanates from a common boiler room and it is solely designed to influence buy and sell modes of the public in order to suit the corporation’s long term ambitions.

Oxford Analytica is an independent strategic-consulting firm drawing on a network of more than 1,000 scholar experts at Oxford and other leading universities and research institutions around the world.

Friday, February 08, 2008

First Advantage Corporation to present at Deutsche Bank.

Beware!!!

My previous post on February 6, 2008 on Yahoo and on my blog has attracted so much interest that some further comments are appropriate.

Press Release: Tuesday January 15, 7:30 am ET – Source: The First American Corporation - NYSE Trading symbol: FAF
The First American Corporation Announces Plan to Separate Its Financial Services and Information Solutions CompaniesCreates Two Pure Play Companies-

“…The Information Solutions company, which will consist primarily of the current Property Information and Mortgage Information segments, as well as First American's 75 percent interest !!! in First Advantage Corporation (Nasdaq: FADV - News), will remain at the existing holding company, which will be renamed prior to the separation.”

“…Parker S. Kennedy will become executive chairman of BOTH companies.”

What is so difficult to comprehend about that?

I have followed and watched these gangsters for over 12 years.

I know, I understand and I comprehend these slick scam artists better than most!

In fact I know them so well that I have written a book citing their wild blurts. The book has been made an important exhibit in a multi million dollar Federal Court case.

Furthermore I have taped and still possess a recording of Kennedy ‘GUARANTEEING’ a dividend increase that never materialized. The sole purpose of Kennedy’s false guarantee at the time was to give a much needed boost to the FAF stock price!

I understand their moves so well that I know that every time the most senior execs find themselves in deep shit, they use the shit to muddy the waters and create a much needed distraction.

Check out my recent post: ‘FAF splits – Interesting Timing’! You might also comprehend why FAF needs to split NOW!

Note that FAF presented at Lehman Bothers in London, UK on May 17, 2007.

Reminder: Review FAF’s historic prices over the period May 2007 to October 2007. A mere six months!

Yahoo link:

http://finance.yahoo.com/q/hp?s=FAF&a=04&b=11&c=2007&d=05&e=6&f=2007&g=d

Five months later:

http://finance.yahoo.com/q/hp?s=FAF&a=09&b=11&c=2007&d=09&e=31&f=2007&g=d

Do you think investors at Lehman were ripped off or not?

Try to comprehend how slick those boys are and how they cunningly manipulate the FAF stock price making it explode and implode at will like clock work!

Try to comprehend how important it is for these scam artists to arrive with an already rising stock price on presentation day. (Deutsce Bank – Naples, Florida - Wednesday, February 13, 2008, at 4:40 p.m. EST.) That is how those slick operators create the buying frenzy that follows the presentation.

Parker Kennedy, the executive chairman of BOTH ‘FAF’ and ‘FADV’ has played that trick over and over again!

Under the new FADV flag, Kennedy is setting the stage for an ‘encore’. Only this time, Kennedy is using Lamson as a puppet and FADV as a different $$$$ conduit! But it all boils down to yet another rip off, yet another abuse of investor confidence!

As the ‘FAF’ & ‘FADV’ senior execs are setting the stage for an encore, I wonder if the Deutsche Bank exec who decided to host this conference in Naples Florida got clearance from the Deutsche Bank highest hierarchy. They have been warned about these Yankee doodles and their dog and phony show in the past!

A company is only as good or as rotten as its head is!

Wednesday, February 06, 2008

Deutsche Bank - First Advantage Corporation - 'FADV' Nasdaq

The ‘FAF’ NYSE symbol has become so overly synonymous with frauds, rip offs and scandals in the US that the original flagship is seeking a new identity under a new flag: ‘FADV’ NASDAQ!

Do not be fooled! The same skippers at the helm will play the same tricks with this new ‘pure’ play company.

Indeed that white collar gang has become so notorious at home that they have to target investors abroad now!

Check out what happened to the FAF stock price after the Yankee doodles Kennedy & McMahon presented at Lehman Brothers in London in May 2007 and how the stock price imploded shortly thereafter!
http://finance.yahoo.com/q/hp?s=FAF&a=05&b=01&c=2007&d=09&e=31&f=2007&g=d

John Lamson will deliver a presentation at the Deutsche Bank 2008 Small and Mid Cap Growth Conference in Naples, Fla. on Wednesday, February 13, 2008, at 4:40 p.m. EST.
John is none other than the puppet on a string of parent company FAF & Kennedy & McMahon!

Will Deutsche Bank expose their investors to be the next victims of these white collar scam artists?

We do not have to hide behind anonymous handles. We have posted the same message on our blog at: www.lleclezio.blogspot.com so that there can be no doubt as to our identity.

Sunday, January 27, 2008

First American Corporation Splits - Interesting Timing

Copy of a message I posted on the Yahoo/Finance/FAF/Message board/012708

First American Corporation has dropped from a recent high of $ 55.11 to a recent low of $27.97.

A lawsuit with worldwide implications was filed recently by attorney general Cuomo of New York State alleging that a First American subsidiary committed major fraud with staggering financial consequences!

Two law firms with most impressive track records, Milberg Weiss and Keller Rorhback are investigating the First American Corporation for alleged fraud under ERISA laws. First American fiduciaries are believed to have intentionally mismanaged the First American employees’ retirement fund.

So what does the First American Corporation decide to do?

Spin off its 100 year old flagship! It decides to cast off its title operations, the very goose that laid its golden eggs for so long!

Retire its New York State president!

Interesting timing indeed to say the least!

Is such strategic timing in keeping with First American’s renowned ability to muddy the waters and complicate the outcome of legal filings?

How often has First American spun off incriminating business in the past?

How often has First American retired key personnel when faced with major lawsuits in the past?

Does the name of Bill Heslington ring a bell?

How often in the past has First American asserted that since a witness was no longer in their employ they could not be held bound to locate and to produce such a witness for depositions?

What a bunch of slick, slick, slick guys run this outfit!

A future close examination of past statements by Kennedy will reveal to what extent Kennedy places the emphasis on possible stock price manipulation as opposed to steering the company with integrity and letting the stock find its own level!

Should an injunction be sought against the First American Corporation restraining it from splitting the company until the courts have ruled over the cases filed against it?

Note that some of those cases have potential international implications.

Reminder: A subsidiary of the First American Corporation was accused of being at the root of and setting off the present international financial turmoil!

Wednesday, January 02, 2008

First American Corporation

Copy of message posted on Yahoo/Finance/FAF/ Message Board
On 12/21/07 Laurie Kulikowski, TheStreet.com Staff Reporter wrote:
Cuomo's suit alleged that executives at eAppraiseIT "knew their behavior was illegal, but intentionally broke the law to secure future business with WaMu."
WaMu said last month that it had suspended its business with the First American unit.
What’s new?
On June 2, 1998, Mr. Jerome Lasky of Moses & Singer, New York quoted a memo written by First American:
“An internal document of the title company, obtained through discovery shows that the title company, although fully aware of the risk they were assuming, decided to issue the policy to the lender in order to get this piece of business, and specifically with a view to obtaining future business”!!!
Can First American ever stop getting its nose bloodied being involved in one fraudulent scandal after another?
Can First American and its shill hiding behind multiple identities ever regain their credibility?

Friday, December 21, 2007

Wall Street Journal reports: SEC probes WAMU on appraisals

The SEC is investigating WAMU in connection with alleged inflated appraisals coerced from a First American Corporation subsidiary.

What’s new? Is involvement in fraud a systemic a long lasting way of life at the First American Corporation?

The SEC better be advised that the First American Corporation, WAMU’s partner in alleged crime, has never hesitated to conceal material facts from investors in the past.

We hold tangible proof on hand that, in order to entice investors to participate in a fraudulent loan, the First American Corporation failed to disclose hard facts of record discovered by First American examiners long before the loan was made.

First American Corporation went even further. In that instance, First American did not reveal to investors that in order to entice the lenders to participate in a fraudulent mortgage scheme, First American had secretly obtained a worthless indemnity agreement from the borrower.

As in the alleged case with WAMU, at the time, the First American Corporation was eager to accept a grossly inflated appraisal. The First American Corporation obviously did so then, just as it is reported to have done now. It stays motivated by uncontrolled greed and the lure of future business at any cost.Note that in my case, I have paid leading attorneys to discover the above and reach those damning conclusions. Their opinions are on hand! Sadly, most of the senior First American Corporation senior executives involved then are still at the helm and probably just as involved now!

Can a leopard ever change its spots?

Tuesday, December 11, 2007

First American Corporation (FAF) - Millberg Weiss

Status of Millberg Weiss investigation should be made public soon. In the meantime I am offering them all the help I possibly can. The following is just one example:

To: Millberg Weiss, New York:

Further to my e-mail of November 22, 2007, I dug up some more ‘tell tale’ damning comments by Kennedy, Kermot and Klemens.

Could your firm develop a line of questioning that would demonstrate that senior execs at FAF have a long history of misleading the public and they have never hesitated over the years to abuse the confidence of FAF investors and employees alike?

In depositions, could you quote verbatim (with back up audio if need be) the misleading and utterly false statements blurted out by most senior FAF execs? The parallels and repeat behavioral pattern between 1999/2000 and 2007 are indeed most revealing.

Could such a line of questioning not set the scene and help establish FAF’s entrenched ‘modus operandi’?

Even in the face of gloomy company news, they have never blinked at lying in an effort to turn the red ink not even pink but to actually make it look black if not green through their wishful glasses?

IMHO the Judges should be left with no doubt that if FAF could take their loyal shareholders and employees for a ride over the years; they could likewise abuse the confidence of those trusting and faithful employees who put their blind trust and fate in the sticky hands of FAF senior execs/fiduciaries.

Furthermore I found the following message on the Yahoo/Finance/FAF/Message board interesting:

“Re: id be selling into any strength (Not rated) 29-Nov-07 03:38 pm
lol, go FAF. thanks for the cheap shares! the 15% employee discount makes it even sweeter! still adding...

I question whether FAF fiduciaries benefited of the same 15% discount when they loaded the employees’ retirement fund with FAF stock?

Regardless the 15% discount policy to employees seems to confirm that when Wall Street shuns FAF stock for good cause, FAF management/fiduciaries look to employees to artificially shore up the price!

There is a saying in French: “Qui vole un oeuf vole aussi un boeuf!”

If in 1999, FAF execs could blatantly urge people to invest in the face of undisclosed disastrous news, why would they hesitate in 2007 to compromise their employees’ retirement fund?

Incidentally Note the critical dates between 1999 and 2007: April 21, 1999 stock closes at $16. April 22, 1999, Kennedy blurts his dividend increase remark. April 23, 1999, FAF stock closes at $20.69!

A mere six months later FAF closes at $11.50 on October 21, 1999.

Thereafter FAF declares losses and FAF stock tumbles to a low of $10.69 on March 13, 2000. A 50% loss in value over six months!

In 1999 did FAF execs and or fiduciaries also tap into their employees’ retirement fund just like they are doing now in 2007? Is it all a repeat systemic performance?

In 2007, do we have a rewind of the same strategy?

In May 2007 FAF presents at Lehman Brothers Investors Conference in London UK.
On June 1, 2007 FAF stock reaches an all time high of $55.11

Thereafter FAF announces losses, Lehman downgrades FAF and a mere six months after the May conference, on November 7, 2007 FAF closes at a low of $30.07! A little less than a 50% loss within six months so far!

Is it a virtual mirror image of the 1999 FAF performance or not?
In 1999, a trustworthy Chicago Title employee assured me that certain FAF employees were being paid to hawk FAF stock among fellow employees and real estate agents and clients. He further assured me that FAF had embraced the policy to: ‘Insure anything, litigate everything’ in their quest for industry supremacy. It is all catching up to them at long last.

Some misleading statements blurted out by FAF most senior execs in 1999:

Stock will come back so we can use it again:
http://www.geocities.com/listentokennedy/kennedy2.html?969640185570

Crazy world right now, valuations really aren’t entirely fair:
(Can Kennedy outsmart Wall Street?)

FAF culture get everyone to sell everything:
(Including company stock?)

Stock down but we are going to work on that:
(How? By digging in employees retirement fund for one?)
http://www.geocities.com/listentoklemens/klemens3.html?969992503500

Accounting change effect:
http://www.geocities.com/listentokennedy/kennedy3.html?970096420290

I guarantee you some time this year we will increase our dividend:
http://www.geocities.com/listentoparkerkennedy/fafdivincreaseguar.html?978064228

Those web based audios do not appear to be still available for playback through Geocities. But I could make the original tape available to you.

While I realize that audios are not always admissible as evidence in court, I believe that in depositions, playing back their own statements to the KKK clan could be worth its weight in gold!

Furthermore you could well find a way to introduce it as evidence. Even if it were to be struck out the mind frame of the court could be favorably influenced.

Please do not hesitate to contact me if I can be of any further help.

Good luck! Go for it!

Yours most sincerely,

Louis Leclezio.

Monday, November 19, 2007

Millberg Weiss Investigates First American Corporation

I note with interest that your firm is investigating possible illegal conduct relating to The First American Corporation 401(k) Savings Plan. Specifically, whether certain fiduciaries of the plan may have violated the Employee Retirement Income Security Act of 1974 ("ERISA") in at least two ways: (1) by allowing employee participants to invest in First American common stock when it was not prudent to do so, and (2) by failing to disclose First American’s problems.

Would your firm further consider investigating what did Parker Kennedy and Frank McMahon of the First American Corporation disclose or failed to disclose to investors when they held a conference at Lehman’s Brothers' Tenth Annual London Financial Services Conference on May 17, 2007, at 11:40 a.m. EDT.
I hereto attach a post on the Yahoo/Finance/FAF/Message board. It is rather revealing!

At the time some other posts forewarned that Lehman in conjunction with FAF was setting up a scenario to make millions of dollars by shorting the stock. Shortly after the stock reached an all time high following the FAF presentation at Lehman, Lehman downgraded the stock and FAF announced losses for the quarter! Of course the stock imploded on unprecedented volumes. It would be interesting to find out who cashed in the most on ‘short’ positions then?

Note that although they have consistently gotten away with it up to now, senior executives at FAF are not novices at manipulating the FAF stock.

On April 22, 1999 at a stock holders’ meeting Parker Kennedy guaranteed that FAF would increase its dividend some time before year end. That remark sent the stock up some $4 the next day when trading volumes increased significantly.

By the end of 1999, FAF had not increased its dividend and had been forced to review the creative accounting practices that had caused its stock to trade at inflated values. That ‘dividend increase guarantee’ remark by Kennedy and other false statements by FAF senior executives at the time were all recorded on tape and are still available to date. At the time, the audio had also been published on the web but FAF saw to it that it got removed just like some of the messages forewarning the ‘short’ strategy allegedly set up by FAF/Lehman were recently removed from the Yahoo message board!

Incidentally, a transcript of the remarks can be read in my book: ‘First American Title To Injustice’.

As a FAF stockholder I would be glad to be a signatory to any class action you may decide to bring against those rogues! They deserve to be put out of business for ever!

Saturday, November 17, 2007

First American Corporation - Fraud & Plunder...

Fraud & Plunder! An enduring way of doing business at First American for far too long!

I suppose First American views law suits, fines and penalties as part of the cost of doing business!

How about the lives that have been marred by First American along the way? How do those people view First American?

In February 1996 First American engaged in a fraudulent deal. To quote the First American lawyer: “The considerable risk First American took for reasons of its own…” ended up costing me and my family millions of dollars.

When I sued First American, Bill Heslington, the First American national accounts manager at the time told me: “Mr. Leclezio if you were to prevail in your suit, we could lose our license. We could never let that happen.”

At the time Jim Hopkins, of the Washington State Insurance department told me: “Mr. Leclezio, John P. Dahl (FAF WA. Manager) made a special trip from Seattle to Olympia to come and try and explain away your case against them. He knew that you had given me Mr. Lasky’s letter from Moses Singer New York. Dahl had ‘guilt’ written all across his forehead.”

I said to Mr. Hopkins: “Why don’t you sue First American and yank away their license?” Sadly Mr. Hopkins replied: “That is the problem with white collar crime. These people can steal millions from you and simply get away with it because they will have a battery of lawyers to defend them. We do not have the necessary funds to assign to going after them!”

I pray and hope that at long last Mr. Andrew Cuomo will have the staying power, the will it takes and the necessary funds to put First American out of business once and for all the good of the nation. Indeed the whole international financial world will be a much healthier place.

But just in case Mr. Cuomo does not have the muscle by himself to put First American out of business, I am actively and earnestly seeking a large enough reliable law firm to launch a major class action suit against First American. I pray and hope that justice will finally prevail.

Had First American lost its license back in 1996 how many American home owners and investors would have been a lot better off today?

I for one would not have been forced to live in poverty away from my dearly loved family and friends just because First American decided to engage in a fraudulent case they could not afford to lose and paying fines, penalties and law suits are just part of the cost of doing business at First American!

But! After all First American is a multi armed bandit machine, a soulless corporation without a face or feelings. Why should they care about the endless sufferings they inflict upon those they plunder, disfigure and damage for life!

Sunday, November 04, 2007

New York Attorney General vs. First American Corporation

What has changed in the systemic fraudulent nature of FAF’s senior management?

It has predictably gone from bad to worse.

On June 2, 1998 Mr. Jerome Lasky of Moses & Singer, New York wrote:

“On analysis, we regard the recordation of the Deed of Trust by First American as particularly egregious conduct and, indeed a breach of its responsibilities as a licensed title company.

“Indeed we view First American’s conduct as so outrageous as to justify seeking the imposition of punitive damages as against it in any action based on its conduct.”

“In fact despite having been actively involved in title claims litigation for some thirty-five years, and having represented numerous title companies in claims litigation, the undersigned has never been presented with a comparable situation.”

“While we are addressing our letter of opinion to you personally, please be advised that we have no objection to your furnishing a copy of this letter to other counsel who are representing you in this matter or to First American, nor do we have any objection to your furnishing a copy of this letter to appropriate State Insurance Departments.

On November 1, 2007, nine years later Reuters reports that in yet another case alleging fraud by First American Corporation, New York’s Attorney General, Mr. Andrew Cuomo said: “Through this, First American helped set the current mortgage crisis in motion.”

"The independence of the appraiser is essential to maintaining the integrity of the mortgage industry," Cuomo said. "First American and eAppraiseIT violated that independence when Washington Mutual strong-armed them into a system designed to rip off homeowners and investors alike."

Should Mr. Cuomo seek help from Mr. Lasky or the offices of Moses & Singer? IMHO, a drastic meaningful action against those FAF rogues is long overdue!

Profile of Jerome Lasky, Esquire.

Mr. Lasky, joined Moses & Singer in 1948. In the course of his brilliant career, Mr. Lasky served as a Judge for the Nassau County District Court and has been an Adjunct Professor at the New York Univeristy Real Estate Institute. Mr. J. M. Lasky has also been a member of the Committee to Prepare a Code of Ethics for Nassau County.

In 1998, Mr. Lasky was a member of the American Bar Association, the New York State Bar Association, and the New York County Lawyers Association. Mr. J. M. Lasky has been a Harlan Fiske Stone Scholar at the Columbia University School of Law from where he graduated in 1948. During his College years Mr. Lasky has been the Articles Editor of the Columbia Law Review.

More recently Mr. Lasky has published articles in the New York Law Journal. In 1998 Mr. Lasky was affiliated to various legal entities such as the Association of the Bar of the City of New York (Faculty, City Bar Center Continuing Legal Education Program), The New York County Lawyers Association, The New York State Bar Association and The American Bar Association.

Saturday, November 03, 2007

First American Corporation Sued For Fraud...

First American involved in fraud…

This is nothing new!!!

In 1996 First American engaged in fraud and defrauded our family of millions of dollars.

At the time, FAF’s senior exec, Ad Zetz was deposed. He was asked why had First American engaged in fraud and violated its company manuals. Under oath, Zetz callously answered: “We had a chance to make a couple of thousand bucks!”

Highly respected attorney. Jerry Lasky Esquire of Moses & Singer, New York, sifted through documents and found a memo stating that the company was prepared to take a “considerable risk for future business.”

Has anything changed at FAF over the last 11 years? Why does FAF senior execs systematically condone at best shady if not fraudulent transactions?

In her post on 11/02/07 on the Yahoo/Finance/FAF/Message board/
janekane12 writes: “First American continues to prove that its leadership is ethically challenged.” Speaking from personal experience I confirm that ‘ethics’ is not a priority at FAF!

Janekane12 goes on to explain why ethics is of concern: “Most of the fines levied against title insurance companies are insufficient to deter improper behavior. Obviously, these types of arrangements are profitable. But this case, however, may be different. This one has the potential to be huge!

Now let us review the huge scope of the present case.

Could it generate a few class action suits in addition to civil and criminal proceedings by New York State?

Could investors who attended the Lehman Brothers conferences and invested heavily in FAF file suit? What did they hear from ex Lehman insider Frank McMahon that caused the FAF stock to reach an all time high shortly before it imploded? Did Frank and Parker Kennedy warn investors that FAF was about to turn in a loss for the quarter or was about to face major suits?

Could home buyers file a class action seeking refunds for all the extra payments they had to fork out as a result of their homes being overvalued?

On 10/31/07 nysemarketmaker wrote on this board:

“$12 in cash Hey! Should we be impressed? Please advise how much will be left after FAF settles claims? How much more needs to be set aside for upcoming major claims? Is FAF not also exposed to class actions that could allege that FAF and its execs have defrauded stock holders?”
And how about buyers of overvalued homes?
On 11/01/07 Forbes.com reported Cuomo’s statement: “Cuomo said eAppraiseIT and the parent company, ‘First American’ knew its actions were illegal, citing an April 17, 2007 e-mail from eAppraiseIT's president to First American that said: "We view this as a violation of the Office of the Comptroller of the Currency, Office of Thrift Supervision, Federal Deposit Insurance Corporation and Uniform Standards of Professional Appraisal Practice influencing regulation."
On 11/02/07 janekane12 also wrote:

This case has been described as "one of the highest-profile government actions yet to assign blame for the mortgage crisis that is causing havoc in the financial markets." People are looking for someone to blame for the mortgage crisis - here is an excellent opportunity to send a message.”

A few on this board have attempted to opine that neither FAF nor WaMu had much to gain from overvalued real estate!!!

How asinine!

Remember we ‘were’ in a rising market. Remember FAF does not blink an eyelid before screwing a family out of millions of dollars for “to make a couple of thousand bucks” and pursuing the lure of future business!!!

How much more did FAF earn for every $10,000 a house was knowingly overvalued by?

How much more did WaMu get to collect monthly for every $10,000 a house was knowingly overvalued by? Did help WaMu inflate its paper?

Furthermore what was the perceived risk?

In a rising market, a higher valued home could increase the risk of the borrower defaulting through higher monthly payments. So what? So much more for FAF and WaMu! WaMu ends up with higher assets on its books, FAF ends up insuring and closing more deals through WaMu!!!

Tuesday, October 09, 2007

Open Letter To James Dufficy of First American Corporation

October 9, 2007.

To: James J. Dufficy et al,

FYI: ‘First American Title To Injustice’ has recently been used as an important exhibit in a major case in Federal Court on the east coast!

Lawyers from Massachusetts to Seattle have been requesting copies of my book!

In the light of the above, what am I to think of your recent comment, that you, your family and friends found my book to be comical? Does that comment underscore your greed, your misplaced ambition and typical arrogance? Are those facets of your personality at the root of your consistent poor judgment in this case?

For my part I wish to thank you for your greed factor, your misplaced ambition and your arrogance. They caused you initially to refuse to settle for fair value when we met in Bellevue and Santa Ana and subsequently with your head stuck in the mud, you disregarded the opprtunity to edit my book and to purchase the publishing rights from Keystar Publications!
Had you acted humbly and fairly during our negotiations, my book would not have seen the light of day. Numerous individuals across the US would not be benefiting from my book and I would not be feeling so vindicated today!

Incidentally do you have any idea how much money your consistent parochial attitude and poor judgment in this case has cost First American directly and indirectly to date?

Considering the present flow of demand for my book, should I be inclined to believe that the party has just begun?

Before ending, you may enjoy reading my blog ‘www.lleclezio.blogspot.com’ concerning the First American, Lehman Brothers and Frank McMahon connection.

Would you believe it if I were to tell you how sorry I am to note that the market cap of First American has dropped by hundreds of millions of dollars over the last few months!

What a blow to your greed and misplaced ambition James!

Good Luck, Duff duff the ‘tuff’ puff puff guy! Keep puffing and blowing hot air boy…

Saturday, September 15, 2007

First American Corporation - Lehman Brothers - The Frank McMahon Connection

The following interesting posts recently appeared on the Yahoo/Finance/FAF/Message Board:
McMahon ‘Le Man’ from Lehman 18-Aug-07 12:09 pm
Fleet Street – London – UK – Reports
This interesting message posted by Leclezio on August 2, 2007 caused me to do some digging back.
Is it a mere coincidence that FAF presented at Lehman days before its stock price collapsed?
Did McMahon use his past connections and credibility at Lehman to dump an imminent loser on Lehman’s clients?
Consider the following statement by Kennedy at the time FAF’s Kennedy hired McMahon from Lehman: “McMahon, currently a managing director with Lehman Brothers Holdings, Inc., will join First American on March 31, 2006. Frank is an excellent investment banker who has a deep understanding of Wall Street, the capital markets and our industry said Parker S. Kennedy, chairman and chief executive officer of The First American Corporation. He has managed the West Coast financial institutions practice for Lehman Brothers for the last six years and managed a similar group for Merrill Lynch from 1994 to 1999.” Now consider that McMahon & Kennedy presented at Lehman Brothers' Tenth Annual London Financial Services Conference on May 17, 2007, at 11:40 a.m. EDT. Please check out the First American tell tale historical stock price fluctuation immediately following that presentation:
You will note that the stock went from $49.49 on May 11, 2007 to $55.14 on June 6, 2007 shortly after the presentation at Lehman back to a low of $40.93 on August 2, 2007!In message “Fleet Street UK Reports” posted on August 2, 2007 - Leclezio pertinently points out that:
“Historically this is nothing new. It is a repeat of the hysteria of the 1990s:Where there were conflicts of interest, say between the desire of investment banks to keep clients sweet by pumping up their stock price and the duty of investment banks to tell their smaller clients the truth, the big buck won and honesty lost.”
Do we have something far worse here?
Ex investment banker McMahon is presenting to clients of his ex firm ‘Lehman’, FAF stock, a company in which he has a major stake just before the stock goes down the toilet!
Ouch indeed!
Talk about conflicts of interest. Do those poor Lehman investors possibly duped by McMahon, Kennedy and Lehman have grounds for a major suit?
As if to make matters worse, Leclezio goes on to point out that shortly after that conference was held at Lehman Brothers' European Headquarters, located at 25 Bank Street, London, Lehman downgraded the First American Corporation!!!Ouch!!! Ouch!!! Ouch!!! Indeed!!!!I read ‘First American Title To Injustice.’ By Leclezio. It exposes other past similar scams By FAF chief execs.
I recommend Leclezio’s book to all those interested prior to either investing or dumping FAF.

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_F/threadview?m=tm&bn=6573&tid=9948&mid=9948&tof=14&frt=2


Re: Fleet Street – London – UK – Reports 7-Sep-07 12:53 am
Heard on the street - Seeking confirmation...
Frank McMahon & Parker Kennedy plan to present at Lehman Brothers again in September 2007.
The stock is expected to rise back to the same $55 ephemeral levels it reached following their last presentation on May 17, 2007.Investors can rest assured that back in May, McMahon and Kennedy had no idea the company would post losses and would be cutting jobs shortly after the presentation. Although Kennedy and McMahon are surrounded by all the latest IT, they manage to remain safely insulated from such critical info and vital corporate decisions within their IT (Ivory Tower)
Die hard FAF investors are urged to hold on to their shorts – even if weighed down with s… while P. K & F. Mc press rewind in front of loyal Lehman clients! What a difference a short 3 months can make! FAF went from $55.14 on June 6, 2007 to $39.97 on September 6, 2007!!!
But do not worry, the stock is expected to go back to $55.14 by the end of September 2007 if the presentation is once again hosted by friendly Lehman in London!


Re: Fleet Street – London – UK – Reports 12-Sep-07 01:03 am
Who do you work for nysemarketmaker? Lehman or First American?
First American only announced on September 10, 2007 that McMahon & Kennedy would once again present at Lehman in September 2007? http://biz.yahoo.com/prnews/070910/lam15...
How could you already know and post that on September 7, 2007?
Nothing like being well connected!Let’s be frank! McMahon will pour the Mc mayo on. No one will look for the meat that is not present! Nothing like a saucy meatless talk to move that stock right back up to $55!
How much did Lehman clients pay for FAF stock in early June after listening to Frank & Parker in May 2007 in London?
Just as well FAF stockholders can rely on ‘Le Man’ from Lehman! What a convenient inside track!We desperately need Mc's solid past connections to fish that stock out of the toilet and get back in the chips!

Monday, August 13, 2007

First American Title To Injustice

Book Presentation & Distribution Proposal

August 15, 2007

A new book entitled "The American Title Insurance Industry," by Joseph Eaton, David Eaton, and Tom Vilsack was released on August 1, 2007. Its subtitle is "How a Cartel Fleeces the American Consumer." Professor Joseph Eaton (U. Pittsburg) has a very impressive biography on Wikipedia. Professor David Eaton is a Bess Harris Jones Centennial Professor of Natural Resources Policy Studies at the University of Texas at Austin. Tom Vilsack, of course, is the ex-Gov. of Iowa.

Two commentaries on that book review state: "In this important and fascinating book, the authors expose a scam that has fleeced Americans of billions of their hard-earned dollars since World War II.” “But they (authors) go on to charge that, beyond mere obsolescence, the title insurance industry is guilty of anticompetitive pricing, overcharging, and possibly fraud.”

The media across the United States has consistently exposed the scams and common abuses inflicted by the title industry upon the American public. Even the usually pro big business Forbes magazine came out with a scathing article on November 13, 2006 highlighting the obsolescence of the First American Title Company and others. Additionally the industry has been the subject of recent Congress hearings.

Another little known book so far, First American Title To Injustice, by Louis Leclézio, was published by Keystar Publications and released in August 2006. Leclézio has neither the impressive credentials of the authors mentioned above nor does he have the name recognition of a magazine such as Forbes.

But Bhishmadev Seebaluck accurately pin points the captivating aspect of this uncommon book. It reveals a different dark facet of the thoroughly corrupt title industry. In his preface to First American Title To Injustice, Mr. Seebaluck writes: “Louis Leclézio has invested all his faith, hope and bitterness in this revealing book which beats all attempts at fiction writing. This work is a penetrating ‘cri de coeur’ which reaches out to the reader and touches the innermost recesses of his heart. First American Title to Injustice is edifying, vindicating. It makes compelling reading… at one sitting.”

For reasons made obvious in the book, Leclézio had limited funds to publish, to promote and to market his book. But that in no way diminishes the broad implications the book should have on the American title industry and the American justice system. Indeed the book has already attracted a number of very positive comments from various circles.


The book was officially launched in the Republic of Mauritius at the opening of World Book Day celebrations on April 28, 2007 by an eminent scholar, the Prime Minister of the Republic. On that occasion, Dr. Navinchandra Ramgoolam, a highly respected figure on the world stage commented as follows: “… the National Library has been behind the launching of several books, the next one being one by Mr. Louis Leclézio, whose family has a long standing friendship with mine.


Mr Leclézio swam against the tide – he has gone against the brain drain to come back to the country after many years in the United States. His book “First American Title To Injustice” is an eye opener and I commend it to you all. Especially to those who think the grass is greener on the other side.”



After its publication in August 2006, the book found a place on the shelves of the local bookstores. From there, First American title To Injustice made it in the local press and on the World Wide Web.
The following comment was picked up on the Crime & Federalism site on the web:
“I read in the Sept 1-7, 2006 issue of the "News on Sunday" circulated in Mauritius, an article called "Hitting Back at America". The author calling himself "The Rambler" was describing a book by Mauritian author Louis Leclézio that was predicted to "likely make strong ripples like a tsunami in the United States, and it hits hard against some American giants and the American type of justice". The book's title is "First American Title to Injustice". I was intrigued as I am with all things Mauritian and took the article home with me to wait and see as to the progress of this tsunami-book. As it is, I still can't find the book on Amazon.com or other sources where I would have quickly bought the book, and now remain surprised that a book with such enormous impact doesn't seem to be on the radar screen of the major book vendors in the USA. The point is, please direct me where this book can be purchased. Maybe I can buy it at Bookcourt in Port Louis during my next visit?? thanks in advance.
Posted by: F. R. Smith Mar 28, 2007 3:27:05 PM
A major week end paper also carried an article in color on the book. (See attached) The well known journalist who was recognized at Harvard for past articles had picked up a copy of the book in a local bookstore. After writing the article, Mr. Henri Marimootoo contacted the author, Louis Leclézio and strongly recommended that the book and his article be distributed to his fellow members of the investigative press in the US. That journalist and numerous others who have read the book perceive that there should be broad appeal for the book in the US.
Indeed Leclézio was recently interviewed to appear on a locally well known prime time TV show. After the show covering Leclézio and First American Title To Injustice is aired in Mauritius, it will be forwarded to US producers such as Oprah and a number of US channels.
With the recent launching of "The American Title Insurance Industry," by Joseph Eaton, David Eaton, and Tom Vilsack in the US, it appears the time has come for the book by Leclézio to be also launched on the American market. Louis Leclézio hopes that First American Title To Injustice can be sold side by side with "The American Title Insurance Industry".


To Recap

Why First American Title To Injustice will sell well in the US?

First American Title To Injustice distinguishes itself from the spate of newspaper articles and other books covering the well publicized scams and abuses perpetrated by the title industry.

It is a poignant true to life story. It shows how an all mighty title insurer destroyed the family’s resolve to live out the American dream to the full after immigrating to the US. The book speaks of the trials and tribulations the family went through while attempting at all costs to safeguard that dream.

Who is likely to read the book?

Every American who has ever dealt in real estate and purchased fraudulently mandated title insurance should read the book.

Are chapter titles thought provocative enough?

Contents:

Chapter 1: The storm gathers.
Chapter 2: “No duty to do the ethical thing”.
Chapter 3: Enter Hagens and Berman.
Chapter 4: A bullet proof case.
Chapter 5: “A couple of thousand bucks”.
Chapter 6: Money-making business.
Chapter 7: Agenda in hiding.
Chapter 8: Puppet on a string.
Chapter 9: “Do you feel like jumping from a bridge?”
Chapter 10: A mock trial.
Chapter 11: Sacrificial lamb.
Chapter 12: When insult is added to injury.
Chapter 13: Wanted: A miracle.
Chapter 14: Courtroom or theater stage?
Chapter 15: The games that lawyers and judges play.
Chapter 16: Clowns and jugglers.
Chapter 17: Scandals galore.
Chapter 18: Reflections and flashbacks.

The book containing some 220 pages has an attractive cover.

Is there sufficient name recognition?

First American Title… is a household name in the US.

It has been the subject of recent Congress hearings.
It has been sued by various States as reported in the press across the US.
Forbes (November 13, 2006) has a lengthy article and an editorial on First American.

Hagens Berman… is also a well known name. It has often been covered in press reports across the US.

Hagens and Berman have been involved in a number of landmark class action cases such as: Boeing, ‘Big Tobacco’, Enron, and the Average Wholesale Price litigation against the Pharmaceutical Industry to name but a few!

The book by Leclézio offers a challenging perspective into some of the intricacies and possible intrigues involved in wins and losses scored by Hagens and Berman in US courts of law.

Indeed in today’s virtual world, the notion of right or wrong is too often superseded by motions of law that convert the illegal into the legal at the strike of a judge’s pen.

Leclézio:

The author shares the name ‘Leclézio’ with his cousin, Jean Marie Le Clézio, the well known author.

The topic, title insurance is a hot and current issue.

Excerpts:

James J. Dufficy: As Dufficy was speaking, I could not help but think that in life there are obviously those who having a small profile engage in petty blue collar crime yet receive much attention. And then there are those who having a larger profile have no shame plundering millions of dollars in white collar crime. Yet, they manage through connections and the law to remain out of detention.I further considered that regardless of the level of crime, common criminals share the same tools of the trade to break into somebody’s property and steal value – Blue collar criminals hammer and ax through doors and walls while white collar gangsters hammer and ax through documents and agreements.

In the end all criminals share a common objective. They all attempt to bag their haul in silence hoping that silence will somehow serve to squash the sin. (p. 20.)First American Title Insurance: Apparently the First American senior vice president for claims had endorsed that public company policy. In a letter addressed to me, dated March 24th 1998, James J. Dufficy had stated that his company had no duty vis-à-vis the public to do the 'correct’ thing. (p. 50)Steve Berman: Then we prayed as we still do now, that some day before it is too late the Judge and lawyers such as Berman, will, like Bartimeus, turn away from the blinding law and its bitter fruits towards God and the Spirit and say:
“Master, Lord Judge of all, we want to see…!” (p.123.)

American Congress: I hope that through this book, through the American Congress and through the court of public opinion, the lawlessness of a few will end up serving the best interests of the many. (p.141.)

Faith:
We grasped that in the light of God we can question the dark actions of man, but through the dark actions of man we cannot question the light of God. (p.176.)
Hope:

Yet through God’s grace, we had refused to jump from a bridge. We had refused to yield to the devils of despair so hard at work at the anvils of evil. (p. 197)

“May our family’s suffering at the hands of Hagens and Berman and First American open a window on universal misery. May the poor, hungering for justice, point to the spiritual dearth of the opulent. May the anguish of those who are condemned to live in penury, expose the decaying heart of those who languish in the lap of luxury.”

Author:

Louis Leclezio,
Mary Gold Street,
Forest Side,
Republic of Mauritius.

Tel. + 230 – 670-7120
US Tel. (206) 331-3984
e-mail: leclezio@hotmail.com

Publisher:

Keystar Publications,
Mary Gold Street,
Forest Side,
Republic of Mauritius.

Comment:

The book leaves the reader with a compelling spiritual message. The Justice of the above through The Truth, the Light and the Life are the only way!

Saturday, August 04, 2007

Copy of a Message on First American/Yahoo Msg/bb

Take Heed….
Who is pressing rewind?Parker Kennedy? Louis Leclezio? Both?
A few years ago the company’s stock price was inflated through creative accounting. Concurrently Parker issued a false statement at a share holders’ meeting concerning dividend hikes. The company stock surged. The dividend hike never materialized and the stock price imploded.
At the time Leclezio published an audio on the web of the false statement made by Parker Kennedy. The company was so infuriated that it sent its attorney John Ludlow of Bellevue to meet with Leclezio’s attorneys in Seattle. In his briefcase Ludlow carried a pile of posts purported to originate from Leclezio. Ludlow threatened to sue Leclezio on behalf of First American unless Leclezio stopped posting on the Yahoo/Finance/FAF/Msg board forthwith!
Leclezio refused to succumb to threats and could not be silenced.
The company suffered huge losses but they never dared to reopen their can of worms involving Leclezio.
Gradually the market cap of the First American Corporation dropped from approximately $2.5 billion dollars to $900 million dollars.
The First American shill on this board then posted messages to intimidate Leclezio. He suggested that Leclezio should be dumped in the sea with brick boots on!!! Leclezio’s address at 10021 N.E. 16th Place Bellevue was also published on this board.
Some of that past history may no longer be available on the Yahoo/FAF/Msg board. But hard copies have been saved.
First American appears to have ways and means to cause incriminating messages to be deleted.
Does anyone know what happened to the recent message by ‘avoidbiglosses’ published on this bulletin board? Was it revealing too much about First American’s potential market manipulation shortly before the stock imploded? Does that possibly explain why that message was promptly removed? Have hard copies of that message been saved by anyone?
Does anyone know how the audio published by Leclezio on the web to expose Parker was also made to disappear a few years ago? Luckily a copy of that tape has been saved for future reference.
Who is pressing rewind?Parker Kennedy? Louis Leclezio? Both?
Parker was hyping the stock recently.
Leclezio reappeared on this board after a long absence.
The market cap has already dropped over one billion dollars!
IMHO FAF misjudged the power of truth!
Has Dufficy caused enough harm to Leclezio and to the company yet?

Tuesday, June 12, 2007

First American! Draw your own conclusions...

A quote on the Crime and Federalism internet site caught my attention:


“I found the book "First American Title to Injustice" to be completely devoid of anything even remotely factual. The author seems to be extremely delusional
Posted by: R.Namkus Apr 30, 2007 9:18:34 PM

That post reminded me of James J. Dufficy’s statement in mail dated November 27, 2006: “Louis: I have refrained from responding to your many slanders, lies and distortions, published in your book…” It also reminded me of a 2 page letter from Hagens & Berman asking that I stop publishing and distributing my book! Yet, all I ask is that justice be done.

However, being privately accused of slander and publicly cited as delusional offers me the opportunity to lay out the evidence before a world wide audience. I am forced to do so in support the bare facts as laid out in my book: ‘First American Title To Injustice’.

From time to time I will post on the web some of the hard evidence gathered against Dufficy and the First American Corporation. Let an unbiased public be my judge.

In any event, I hope that the evidence will serve to expose perjury by Dufficy and others. It will also highlight how First American tampered with some of the evidence gathered in Federal Court Case # D.C. No. CV – 98 – 01198 – TSZ.

And how thereafter with the help of Hagens and Berman, First American Title was able to coerce a corrupt ruling out of dishonorable Federal Court judge Thomas S. Zilly of the US District Court – Seattle - Washington.

Indeed numerous well qualified impartial experts have opined that First American dealt with such dirty hands, that they did not even deserve their day in court!

Although a file has already been compiled and will be turned over to a Grand Jury Investigation in due course, please note that for the public consumption through the internet, no priority will be given to the severity of the crimes committed by Dufficy, the First American Corporation and Hagens and Berman. Documents will be published at random in no specific order starting with the following.

Let us consider the facts disclosed at pages 37 & 38 of my book ‘First American Title To Injustice’:

“For example on November 20th 1998, James J. Dufficy, Senior National Claims Counsel for First American signed a document under oath stating that he had read First American’s responses to our interrogatories and requests for documents, that he knew the contents of the documents and believed the same to be true!

In answer number 9 to our request for admission, Dufficy and counsel for First American state:

“First American admits recording a Deed of Trust in favor of the lender and a Deed of Trust in favor of First American. First American denies that it ‘caused’ either Deed of Trust to be recorded, and states that said Deeds of Trust were recorded at the request and direction of the lender and of (our ex-partner!)”

Having made that statement, when First American was asked to provide copies of documents during the discovery process, First American must have felt that it had no other option but to tamper with the Indemnity document it had obtained from our ex-partner. Thus First American supplied us with a copy of the Indemnity Agreement wherein paragraph 6 had been blanked out. Since paragraph 6 was at the bottom of the first page of the document, First American must have hoped that in flipping the page over we would miss the fact that the paragraph sequence jumped from 5 to 7. When we asked First American for the original of the document, we understood why paragraph 6 had to disappear.

In flagrant contradiction of Dufficy’s sworn statement, under paragraph 6 of the Indemnity Agreement that had been prepared by First American for its sole benefit – First American, an expert in the field, best equipped to engineer the fraud and map out its execution, makes the request from our ex-partner and instructs him as follows:

“Indemnitor (our ex partner) shall deposit with First American a properly executed Deed of Trust to be recorded in a second lien position against the property as described in paragraph 1 above to secure the indemnity obligation herein.” Indeed First American directed the actions of our ex-partner. That was most contrary to what Dufficy, a senior officer of First American and also an officer of the court, considering himself fully informed, had stated and signed under oath!”

Now please compare exhibit 42, a copy of the Indemnity agreement first produced by First American with the original document being exhibit 43 I was forced to call for from First American.

Exhibit 42 where para 6 is missing:


Exhibit 43 with para 6:



The public is kindly asked to disregard the conclusions I reached in my book and draw their own!

I apologize for the poor quality of the pictured document. All relevant documents will soon be clearly visible and published in a web folder.

The tampered with Para 6: states: "Indemnitor shall deposit with First American a properly executed Deed of Trust to be recorded in a second lien position against the property as described in para 1 above to secure the indemnity obligation herein."!

Saturday, June 09, 2007

First American Corp - Fleet Street – London – UK – Reports

Yankee doodles Kennedy and McMahon came to town for their dog and phony show.
The First American Corporation momentarily feathered its market cap.
It took some European donkeys for an all time American ride.
Fleet Street got fleeced. The stock price and market cap is now going to crap.

Disillusioned European investors have little else than losses to show.
Historically this is nothing new. It is a repeat of the hysteria of the 1990s:

Where there were conflicts of interest, say between the desire of investment banks to keep clients sweet by pumping up their stock price and the duty of investment banks to tell their smaller clients the truth, the big buck won and honesty lost.
But you don't get any sense of a great wailing of guilt at the institutions.
For crying out loud:
Check it out. First American Kennedy and McMahon were presenting at the Lehman Brothers 2007 Financial Services Conference on May 17, 2007, at 11:40 a.m. EDT. That conference was held at Lehman Brothers' European Headquarters, located at 25 Bank Street, London.
It sent the First American stock momentarily sky rocketing only days before Lehman downgraded the company days later.

On June 7, 2007 the stock imploded on unusually high volume while Kennedy and McMahon were desperately trying to pump it up at the Stephens Springs Investment Conference.

The tell tale historical quotes can be viewed through the link below:

http://finance.yahoo.com/q/hp?s=FAF&a=04&b=11&c=2007&d=05&e=9&f=2007&g=d

From $49.49 on May 11, 2007 to $55.14 on June 6, 2007 back to $51.20 on June 8, 2007!!!
Ouch!!! Almost a $6 fluctuation based solely on Kennedy Hype! How many times in the past has Kennedy outright lied to hype the stock? Keep pressing 'rewind' Parkie till you get caught.

What a justified well deserved flop the presentation proved to be at the Stephens Springs Investment Conference!
Incidentally some other similar First American scams are exposed in ‘First American Title To Injustice.’
It can be purchased on line through: (www.lleclezio.blogspot.com)
As a result of facts disclosed in that publication, a Grand Jury Investigation is being sought in numerous aspects of FAF corruption.
This message is also posted on the Yahoo/Finance/First American message board.