Monday, June 27, 2016

Response by Executive Towers plus response

From: John Sellers
Sent: Monday, June 27, 2016 2:57 PM
To: jrussett@executive-towers.com
Subject: RE: Survey of "HOA Attorneys"

So what happened to the $862 million?
Regards
John Sellers
Principal
www.yavapairegionalcapital.com
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On Mon, Jun 27, 2016 at 2:30 PM -0700, "jrussett@executive-towers.com" <jrussett@executive-towers.com> wrote:
I have and we will agree to disagree. I'm very involved with Management Company's and 20 years experience in the HOA industry.  So not really interested in a misleading right wing conservative rhetoric.
Thanks for you time. 
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From: John Sellers
Sent: Monday, June 27, 2016 1:53 PM
To: jrussett@executive-towers.com
Subject: RE: Survey of "HOA Attorneys"

Please check your facts.
I've been involved in a number of well publicised bank bailouts in a 35 year career on Wall Street, involving the FDIC and the Bank of England. I have over $30billion of financing experience. This is why this email is coming from my professional email with our web site. I also was a licensed securities professional for many years.
The FDIC injected $862million alongside Mutual of Omaha. They injected $106million into Desert Hills.
I am very familiar with AIG. Their problems were largely credit default swaps related which few even on Wall Street understand. Nothing there involved HOA deposits.
I beg to differ on the Bar Associations view which as a self regulating profession carries the weight of law. Ask some HOA Management Co's who were caught in the unauthorised practice of law ("UPL") offering legal advice.
If you have some other facts, happy to consider them and publish them.
Regards
John Sellers
Principal
www.yavapairegionalcapital.com
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From: jrussett@executive-towers.com
Sent: Monday, June 27, 10:00
Subject: RE: Survey of "HOA Attorneys"
To: John Sellers
Hi John,
As a certified and professional HOA Manager, I clearly have a different and far more informed knowledge of the areas you are attempting to misconstrue and misrepresent.
Yes a bank did fail in 2008, but so do a significant number, most notably AIG and the HOA bank that failed received no federal funds because Mutual of Omaha picked up the failure immediately and assumed the financial responsibility of the bank.
Just because the Bar Association does not recognize a speciality as you claim does not demean or reduce it's importance.
Regards,
Jay Russett, CAAM
Executive Director
Executive Towers Association