” It is stunning that the conservator of Fannie Mae and Freddie Mac, which have received $150 billion in a taxpayer-funded bailout, had just two people receiving and processing customer complaints,” Representative Spencer Bachus, the Alabama Republican who is chairman of the House’s financial services committee, said in a statement. ” Who knows how many reports of waste, fraud and abuse have gone unheeded and unaddressed?”
It really is stunning how grossly incompetent and subjected to abuse we’ve all become. How many people spent time filling out forms, collecting evidence and forwarding complaints about abuses? Wonder why nothing ever came of those complaints? Wonder why no one followed up? Because there were just two little people responsible for fielding all those complaints….so they were just dropped in some folder somewhere and ignored.
And it’s not just the insult that the complaints were ignored, it’s the cumulative cost of ignoring all those complaints, all that evidence of fraud and abuse and crimes. We’re all paying for it now. Not the bankers mind you. Not the foreclosure mills that engaged in all the wrongdoing….they’re doing just fine, thank you…..thank you very, very much. Because while Fannie and Freddie were ignoring your complaints, the wrongdoers were able to keep chugging furiously along with more and more wrongdoing….will they ever pay a price? Will we ever recover any of the ill-gotten gains? Will the American people ever even get a ride on the yachts they bought all these criminals? Or will be invited onto the private islands to have a look around the houses?
But wait, I’m getting so far ahead of myself, is anyone going to engage in any real investigations? How did all those endorsements get on notes? How did all them assignments get signed? Them notaries get notarized?
Or is is just to explosive to ask those real hard questions?