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Special EU & EURO Warning – December 14, 2011Offshore Jurisdiction Comparison 
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Executive Summary – The Cook County Sheriff says he will not do any more foreclosures until the lenders can give assurances that the documents are lawful and proper. The cook county Sheriff Tom Dart said the following - “I need some kind of assurance that we aren’t evicting families based on fraudulent behavior by the banks. Until that happens, I can’t in good conscience keep carrying out evictions involving these banks.” Dart is isolating the moratorium on foreclosures to: Bank of America, Chase and GMAC/Ally. He did say he could expand this to other lenders tied to questionable practices.
Discussion – Sheriff Dart is the Sheriff for Chicago which is a major population center. He might be interested in getting himself in the spotlight for publicity. We have no knowledge of him being sympathetic to sovereign causes. He may simply be insulating himself from any litigation. If the banks get sued he can get sued as being complicit and/or facilitating these fraudulent foreclosures based on illegal documents. This might be the beginning of other Sheriffs seeing themselves entangled in numerous lawsuits in the months to come and thus will freeze foreclosures. The Sheriffs will want to be assured by the lenders that the documents are lawful. How this is done is a good question. The goal would be for the Sheriff to conduct such due diligence that he cannot be implicated in the lawsuits. This is a good thing for the people.
Please bear in mind that the Sheriff can dragged into these lawsuits against lenders for unlawful foreclosure practices initially as a witness. Then the deposition of the Sheriff gets taken and it is determined that the Sheriff just blindly excepted any garbage foreclosure that the lenders filed. Whoops now he gets implicated. The expense of this to the budgets of the Sheriff can be devastating. The Judges have immunity but the Sheriff doesn't. The courts being sympathetic to the Sheriff may not award damages against the Sheriff bu the wind is blowing the other way now with 50 atty generals investigating the foreclosures. We will see. We hope this scares the other Sheriffs into stopping foreclosures.
These lawsuits would need to be filed in the Sheriff's county and the local judges may have an illegal sidebar with the Sheriff and reassure him that there will be no damages. This is fine but then comes the appeals courts and the State Supreme Court and the press which can ruin the careers of the Sheriff and the Judge. Interesting development.
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