Gretchen Morgenson on Bill Moyers: If DOJ was tough they would be bringing criminal cases...not settlements

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Gretchen Morgenson on Bill Moyers: If DOJ was tough they would be bringing criminal cases…not settlements

Gretchen Morgenson on Bill Moyers: If DOJ was tough they would be bringing criminal cases…not settlements

Bill Moyers-

“If the Justice Department were being tough on Wall Street they would be talking about bringing criminal cases against individuals who helped to perpetrate this immense crisis.” she said. Morgenson adds that the investigations into JPMorgan Chase show that it and many other financial institutions are still ‘too big to fail,’ which means taxpayers could once again be forced to bail them out.

[BILL MOYERS]

 

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4 Responses to “Gretchen Morgenson on Bill Moyers: If DOJ was tough they would be bringing criminal cases…not settlements”

  1. Charles Reed says:

    Ms Morgenson is now seeing the light of the consumer and not accepting this as Atty Gen Holder and President Obama have described this as boys being boys, but not breaking the law.

    However 5ys have passed and American homeowners has suffered and continue to suffer because the Justice System is bought and paid for by the Jamie Dimon of the world and the corrupt banks they Still run.

    Homeboys Jamie Dimon of the New York Chase gang get to steal let say a trillion dollar and pays a $13 billion fine…..So where can I get some of that action?

    However talking of Washington Mutual Bank (WaMu)always leads me to the $70 billion in loan losses by the FHA and where are the 1.3 million government insured loan that WaMu had Wells Fargo Bank servicing before their crash on Sap 25, 2008?

    Truth of the matter is Wells Fargo Bank made those loan look as if they owned them and forged document to foreclose on a portion of these loans, taking the proceeds and handing it to Ginnie Mae who turn around and handed to the Federal Reserve Bank. Also Wells Fargo submitted False Claims to the FHA Mortgage Insurance Premium and VA Guaranty Fund, ripping off the US taxpayer along with the other banks to the tune of $8 billion in 2009-2010, which means the with treble damage we are owed $24 billion.

    It was hard to explain these crimes and still is because only a handful of people in the world understood how they worked, as securities are a product made up of smoke & mirrors. However sounding how the crime of not owning the a interest is as simple as “show me the money”! All banks have to do is present a cancel check or electronic transfer of funds, showing they simply paid for the loans they are claiming they own.

    However because there were no purchases, you can imagine that it would be impossible to have a receipt. Here is what is needed to be done and that is present the Notes to all loans that the US government has insured and along with that Note endorsed in blank that must always sit with Ginnie Mae, there be an endorsed Note to whoever foreclosed plus proof of payment! Now if one of the requirements is not made you folk have Theft by Deception and as there is going to be an assignment which is going to be a forgery because there is no proof of purchase, plus with the insurance claim you will have a False Claim.

    The End.

  2. Sarah says:

    Public forums are the premier outlets to heavily criticize mainstream “reporters” like Gretchen. Remember how she blamed ‘the Government’ for the financial crisis? Her poorly written tome to Fannie Mae was a badly edited exercise in misleading propaganda. Here Gretch gently scolds the co-opted Justice Department for doing the job that they were in fact hired (appointed) to do. Perhaps the most compelling evidence of deceit from mainstream hacks is how recent history appears to be forgotten in an instant in the name of a crap op-ed. Since when has the Justice Department ever been tough on the FIRE sector in recent years of almost daily outrage? Gretchen should know first hand, the names of the Bankers yet her book explicitly protected them, since this is her job, ironically along with the Justice Department. (Now, if we could throw these messengers out of their homes or luxury rentals, would they write a different type of article?)

  3. Karen Pooley says:

    Sarah, do you work for Jamie?

  4. Charles Reed says:

    Sara bring up great points, and I know for a fact that Gretchen aware of Ginnie Mae securities mess because I have written her about it, yet it is a program that if understood by the public it would cause great concern because it bring into the crime the Federal Government itself.

    Sara saying she knows who committed the crimes yet helps hide the true by not reporting it. If the NYT said that these securities have no underlying collateral because Ginnie Mae is not capable of purchasing the Note debts of the blank endorse Notes they have in their possession, would instantly draw the attention who in fact these government insured loans were foreclose, and cause the FHA alone to have a $70 billion loan losses in 2009-2010!

    $70 billion FHA loss is a cost the tax payer eats. Even if the FHA or VA makes money because of premiums paid, that becomes a part of our coffers and is not some slush fund to purchase homes that lenders cannot even produce a cancelled check or electronic fund receipt that they had purchase this debt and own the loans.

    We have watched not a reporter do a Woodward & Bernstein exposing Watergate, but it been all Whistleblower reporting to the government exposing the crimes, and reporters doing a after action report. Great example is within the last couple of weeks the SEC has paid somebody $14 million in a Whistleblower claims, meaning that we the people recovered at least $140 million? Who got what and what happen?

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