Obama's $26 Billion Foreclosure Fraud Fix Was Just A Settlement For Big Banks

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Obama’s $26 Billion Foreclosure Fraud Fix Was Just A Settlement For Big Banks

Obama’s $26 Billion Foreclosure Fraud Fix Was Just A Settlement For Big Banks

Business Insider-

On November 19th, the core of the Obama “Justice” Department’s “49 State Settlement,” of the millions of fraud claims by the suing mortgagees against the mega-banks who were trying to foreclose on robo-signed and other dubious mortgages, was finally announced, and it basically gave the mega-banks what they wanted: all of the money they could possibly get out of those mortgagees, and with future U.S. taxpayers furthermore absorbing the resulting losses, in the form of taxpayers needing to pay off the federal debt for the massive bailouts of Wall Street and its “counter-parties,” losses which were being absorbed by Timothy Geithner’s U.S. Treasury, and by Ben Bernanke’s U.S. Federal Reserve.

There would be no prosecutions of mega-bank executives for any of the frauds those mega-bank executives had planned and overseen, which had led to these enormous crimes, and thus to the 2008 crash. Those mega-bank executives were permitted to keep their millions of dollars in pay and bonuses, which they had earned from these frauds.

In order to understand what was happening here, one needs to know first this relevant background, the back-story:

[BUSINESS INSIDER]

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4 Responses to “Obama’s $26 Billion Foreclosure Fraud Fix Was Just A Settlement For Big Banks”

  1. nydeemarie says:

    I have evidence of a fake loan (counterfeit security) in at least two court records, one being Federal….
    ***************************************************
    This woman alleges that there are fake mortgages and satisfactions routinely going to the well connected….
    ***************************************************
    “My experience with the courts has been an eye opener into a world of dirty politics, bribe taking and judgefixing.

    Ex. husband Mike Figat has been paying off judges to abuse me and deny my rights since 2000 when I filed an action for a divorce in Central Islip Sup. Ct. Judge Wm. Kent III. Lost everything beginning with his orderimng me to sign a stip. that could not ever be enforced.

    eX Using fraudulent mortgages and satisfactions to bribe judges.

    Family court judges Lynaugh, Wilmott, Rodriqez got mortgage sats as pay off to allow my ex to write his own family court orders denying our son support he deserved.

    Disgusted with the crooks running Suffolk County corrupt courts etc

    http://thomas-k-campagna.pissedconsumer.com/corrupt-suffolk-county-court-thomas-campagna-ettore-simeone-judge-david-freundlich-20120301301332.html

    *****************************************************
    Our public record is replete with evidence of sham buyers, flippers and fraudulent whoppers….
    ******************************************************

    A Debt Jubilee for everyone?…..

    Hardly…

  2. Charles Reed says:

    The $26 billion hide the $264 billion We the People are entitled to from the servicers and Ginnie Mae have been illegally foreclosing upon government insured loans.

    There was not a government insured loan that was in a Ginnie Mae pool that could actually be modified or foreclosed because there is no actual debt attached to the blank Notes that were relinquish to Ginnie Mae by lender who wanted to participate in the selling of Mortgage Backed Securities.

    What we have is another Ponzi scheme that larger than what Bernard Madoff was getting away with for 40 years which is the same time frame of the start of the sell of the Ginnie Mae MBS.

    Had there been more than one blank bank prime/government loan officer in the country there would not have been this financial crisis! I am the one who has brought this issue to the attention of the Federal Government!

  3. nydeemarie says:

    NY being one of the original 13 has some interesting recording laws.

    The New York Courts are due for a windfall if they honorably help to root out the corruption….

    If not the ship sinks..

    California is already closing some Courts…

    Fair Warning….

  4. keepon says:

    White House Petitions Petition the Obama Administration to:
    Halt Foreclosures Nationwide & Prosecute the Financial Criminals

    https://petitions.whitehouse.gov/petition/halt-foreclosures-nationwide-prosecute-financial-criminals/FdVJLnKK?utm_source=wh.gov&utm_medium=shorturl&utm_campaign=shorturl

    As of 11/23: 72 ?!? signatures 24,928 more needed Created 11/14 25,000 signatures needed

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