You can’t make this stuff up!
Just days after Jamie Dimon proclaimed that “Bitcoin is a Fraud!” and he would “Fire any trader that worked for him that bought Bitcoin”…JP Morgan Securities LTD in Europe was the 4th largest buyer of the “Bitcoin Tracker One” ETF!!! Not exactly sure about the legality of this, but I don’t think the CEO of the world’s largest “Too Big Too Fail” bank is legally allowed to participate in market manipulations on what he deems a “fraudulent asset!”
There is an overall system in place designed with intentional fraud on the court and necessity for liquidity. The MBS computer software / financial products are not designed for 30 yr mortgages. Securitized trusts need liquidity for pension funds to be able to invest. Nothing has changed since ringleaders’ GSE conservatorship except ramping up wrongful foreclosures to feed the Treasury to prop up Obamacare. Servicing shifts are part of this process and all of it needs a criminal investigation and complete, detailed audit.
So, let’s get this straight, the dude is “systematically and intentionally” lying about the quality of the subprime loans… the same financial products that they sold to unsuspecting homeowners? So… chances are they were lying to homeowners too, yeah? Seems logical, doesn’t it?
In what can only be regarded as a shocking development, the United States is suing the former head of subprime mortgage trading at Deutsche Bank over “systematically and intentionally” lying about the quality of subprime mortgages that backed nearly $1.5 billion in mortgage-backed securities in the run-up to the crisis.
The lawsuit marks one of only a handful of times the government has gone after an individual for crisis-era mortgage fraud at the systemic level; an untold amount of MBS traders from this era still walk free.
As bad as Hurricanes Harvey and Irma were/are there’s one approaching the East Coast whose destruction destruction eclipse both of them!
“You never want a serious crisis to go to waste. And what I mean by that is an opportunity to do things you think you could not do before.” — Raul Emanuel, Chief of Staff for Obama
The two affiliates, Lehman Brothers U.K. Holdings (Delaware) Inc and Lehman Pass-Through Securities Inc, were put into bankruptcy as part of a deal that will generate $485 million cash for the Lehman estate, according to court documents.
The affiliates own residential mortgage-backed securities, real estate and stock in First Data Corp (>> First Data Corp), which helps process credit card transactions, among other assets, according to papers filed in the U.S. bankruptcy court in Manhattan. Affiliates of Brookfield Asset Management Inc of Canada (>> Brookfield Asset Management Inc) are buying stakes in the Lehman affiliates, which were put into bankruptcy to carry out the deal.
Administrators have spent years winding down Lehman’s holdings and have distributed around $147 billion to creditors, according to court records.
Un-frickin’ real! Families are made homeless while Treasury was partying with the state! Such a life.
A damning new report from a federal watchdog shows that 19 state housing finance agencies wasted millions of dollars that should have gone to struggling homeowners as part of the government’s Hardest Hit Fund program.
The report, published Friday by the Office of the Special Inspector General for the Troubled Asset Relief Program, showed that SIGTARP’s investigation found that the all 19 of the state housing finance agencies that participated in the Hardest Hit Fund collectively wasted $3 million on items like barbecues, steak and seafood dinners, gift cards, flowers, gym memberships, employee bonuses, litigation, celebrations, and cars, instead of using the money to help struggling borrowers.
Excellent post! Open for the details:
“The 9th Circuit remanded the case back down to the Central District of California for further action. For those of you in the 9th Circuit states, you should be jumping for joy, because the little guy has won another round. To see the opinion, click the link: Robins v Spokeo Inc, 9th App Cir No 11-56843 (August 15, 2017)“
Trump approves MORTGAGE DEBT FORGIVENESS PLAN that Obama couldn’t. Performing loans sold at a loss. #Fanniegate $FNMA
Fannie Mae began its marketing efforts with Citigroup Global Markets for its fourth sale of re-performing loans, or loans previously delinquent, but now performing again. Here are the details of the new pool, which includes about 11,000 loans.
Source: Fannie Mae begins marketing fourth re-performing loan sale
Make it simple. Robo-signing is forgery. Forgery is a legal term. Hiding GSEs as real party in interest is fraudulent concealment and also a legal term. If Mnuchin understood the rule of law surely he would not have knowingly participated in this corruption. On the other hand, if he knew… well, couldn’t that play the “intent” card? No wonder he got huffy.
