The 49 State Attorney General Sellout is the biggest legal sellout this nation has ever seen. I think it borders on treason. That’s right, treason. The conduct outlined in the OIG Audit Reports undermines our nation’s entire financial system and this poses grave and systemic risks to our nation’s national security. The servicers and banks were permitted to engage in gross and systemic fraud at 1)origination; 2)servicing; 3)modification; 4) foreclosure/bankruptcy; 5) post foreclosure REO claims.
They made claims totaling billions and collected God knows how much in actual claims.
THE AG SELLOUT IS NOT ABOUT ROBOSIGNING. THE ROBOSIGNING IS A SIDE SHOW, A DISTRACTION
THE AG SELLOUT IS THE WORLD’S LARGEST INSURANCE FRAUD CASE!
The servicers were permitted to file and collect on false insurance claims and pocketed hundreds of millions of dollars. The sellout asks them, pretty please, can you give a few nickles back? Ignore the $25 Billion number, most of that is walking away from underwater mortgages they will never collect on and that don’t exist anymore.
Most insulting, read each of the OIG reports carefully and see how the banks lawyered up, told the Office of Inspector General and Department of Justice to
GO SCREW YOURSELVES, WE’RE NOT PROVIDING YOU ANY DOCUMENTS!
And they got away with it! Great job! This is the most direct and specific example of the corruption, the tyranny, the absolute lawlessness that exists in this country that has yet been divulged to us. The banks truly are above the law.
Read a bit of this:
The five banks that agreed to a $25 billion settlement to resolve fraudulent foreclosure claims consistently hindered a government watchdog’s investigation into those practices, according to a report released on Tuesday by the Department of Housing and Urban Development’s inspector general’s office.
The findings, based on a review of foreclosure practices at Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial over a two-year span from October 1, 2008 to September 30, 2010, essentially confirm what has been reported extensively for nearly two years. Bank employees, in order to speed foreclosures, signed hundreds of legal documents a day without reviewing the accuracy of the foreclosure information, notarized signatures on documents that purported to verify a bank’s legal right to foreclose without ever checking whether that was true, and hired law firms that forged signatures en masse — all with the encouragement of management. HUFFINGTON POST