Deutsche Bank AG knew in 2006 that a mortgage company it was preparing to buy lied to the U.S. government about its mortgages, yet went ahead with the purchase and should be held financially responsible, the Justice Department said on Monday.
According to the department’s amended $1 billion complaint filed Monday evening with the U.S. District Court in Manhattan, Deutsche Bank was “on notice of and expressly assumed responsibility” for wrongdoing at MortgageIT Inc, which it bought in 2007.
Meanwhile all the Kings Men and 2 King Wives continue to feast extremely well via bailouts… Some of you (not all) have a slight chance… or is it?…
Who do you think this is benefiting?
From the Wall Street Journal – Foreclosure relief finally kicks off
The Obama administration is finally launching a long-awaited $1 billion program designed to provide the unemployed with loans to help them avoid foreclosure.
But there’s a catch: Homeowners will have only a month to apply.
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