WHILE OBAMA AND HIS CORRUPT BANKSTER-OWNED POLITICIANS LIKE SEN. DIANNE FEINSTEIN, CHRIS DODD AND BARNEY FRANK ALL BUST THEIR CORRUPT ASSES FOR THE CRIMINAL BANKSTERS, HANDING THEM NO-STRINGS WELFARE, THE BANKSTERS' PROFITS HAVE SOARED!
OBAMA DONOR DIANNE FEINSTEIN, ONE OF THE MOST CORRUPT POLITICIANS IN AMERICAN HISTORY, HAS LONG TAKEN BIG BRIBES FROM BIG BANKSTERS WELLS FARGO and BANK of AMERICA!
WELLS FARGO HAS HAD THEIR CALIFORNIA MORTGAGE LICENSE REVOKED SINCE 2003 FOR CORPORATE CRIMES, FRAUD AND MALFEISANCE. THE BANKSTER WENT INTO OPEN COURT AND DEMANDED THE MORTGAGE LICENSE BACK! THE COURT REFUSED, SO THE BANKSTER SIMPY DECLARED ITSELF ABOVE THE LAW, AND WENT ON FUCKING OVER CONSUMERS NATIONWIDE WITH THEIR RIGGED CORRUPT MORTGAGES. THEN THEY WENT TO TOWN LOOTING CONSUMERS THROUGH FORECLOSURES ON THE VERY MORTGAGES THEY FUCKED PEOPLE WITH.
THE OLD BUSH WAR PROFITEER, AND ADVOCATE FOR OBAMA'S OPEN BORDERS, AMNESTY AND ILLEGALS VOTING, FRONTED FOR THE BANKSTERS' "BANKRUPTCY REFORM" WHICH THEY PUT THROUGH JUST BEFORE THE REAL ESTATE CRASH THAT PREVENTS CONSUMERS FROM GETTING THEIR CROOKED MORTGAGES REORGANIZED IN A BANKRUPTCY COURT.
OUR NATION IS IN MELTDOWN, LOOTED BY WALL ST. MEXICANS AND THESE LIFER-POILTICIANS LIKE THE OLD WHORE FEINSTEIN.!
...so have foreclosures!
UNDER BANKSTER-OWNED OBAMA, BANKS PROFITS WERE GREATER IN HIS FIRST TWO YEARS IN OFFICE THAN ALL EIGHT UNDER BUSH!
Records show that four out of Obama's top five contributors are employees of financial industry giants - Goldman Sachs ($571,330), UBS AG ($364,806), JPMorgan Chase ($362,207) and Citigroup ($358,054).
Documents in US foreclosure settlement highlight lawlessness of the banks
By Barry Grey
16 March 2012
On Monday, the settlement between five major banks and the federal and state governments of foreclosure-related fraud charges was filed in federal district court in Washington, DC. The agreement must be approved by the court to take effect.The settlement, reported to be worth $25 billion, was announced February 9 and hailed by President Obama as a serious rebuke to the banks and boon to distressed homeowners. (See: “Obama administration brokers pro-bank mortgage fraud settlement”).
It is nothing of the kind. It quashes investigations by 49 state attorneys general into wholesale fraud and illegality committed by the five biggest mortgage servicers in their rush to foreclose on homeowners and seize their houses. The abuses first surfaced in the fall of 2010, amid reports of “robo-signing” of foreclosure papers and court submissions.
It was revealed that bank employees and contractors routinely vouched for the accuracy of documents affirming the banks’ title to targeted homes without having ascertained the facts or having even read the documents they were signing. The process was rife with forgeries, fraudulent notarizations, inflated job descriptions of the signers and other violations of the law.
The federal complaint against the banks filed Monday as well as audit reports on the five institutions posted Tuesday by the Department of Housing and Urban Development (HUD) inspector general show that the illegal actions covered by the now-suppressed probes went well beyond the fraudulent processing of documents.
The government charged the banks with eight counts of violating federal and state foreclosure and lending laws, including levying improper fees on homeowners who fell behind on their payments, failing to provide proper documentation on foreclosures, losing paperwork after consumers asked for loan assistance, and wrongfully denying consumers who asked for help.
The complaint alleged that the five mortgage servicers’ malfeasance “resulted in the issuance of improper mortgages, premature and unauthorized foreclosures, violation of service members’ and other homeowners’ rights and protections, the use of false and deceptive affidavits and other documents, and the waste and abuse of taxpayer funds.”
The inspector general’s reports documented the fact that the “robo-signing” of foreclosure documents was ordered by top management at the banks. They also accused all five banks of impeding the government investigation into their practices.
Far from a blow to the banks—Bank of America, JPMorgan Chase, Citigroup, Wells Fargo and Ally Financial—the settlement filed Monday is a whitewash designed to shield them from potentially tens of billions in fines and damages arising from the state investigations. The banks largely dictated the terms of the settlement in the course of 16 months of negotiations, during which the Obama administration pressured recalcitrant state governments, particularly California and New York, to sign onto the deal. Under the agreement, the banks do not admit to any wrongdoing.
In return for the ending of the state probes, the banks have merely to pay a combined fine of $5 billion. Of this, $1.5 billion is to be set aside to pay some 750,000 illegally foreclosed homeowners a token sum of $1,500 to $2,000 each. Not one of the families whose homes were effectively stolen by the banks will be made whole.
The remainder of the reported $25 billion in the agreement is in the form of relief to be provided by the banks to “underwater” homeowners—those who owe more on their mortgages than the market value of their homes. Of this, $10 billion will supposedly go to reducing the principal on home loans, $3 billion to lowering monthly interest rates, and the other $7 billion to short sales and other measures to allow delinquent borrowers to avoid foreclosure. The latter procedures are already being carried out by the banks, so they will receive $7 billion in credit for what they are already doing.
The Financial Times reported last month that the bulk of the cost of the settlement will be covered by taxpayer funds. At the insistence of the Obama administration, the banks will be allowed to make use of an existing federal program, the Home Affordable Modification Program (HAMP), which provides public funds to banks that agree to reduce the principal on troubled home loans. Nearly two-thirds of the value of any write-downs the five banks make will be recompensed with funds from this program, the Financial Times reported.
Even if all of these measures are carried out, less than 5 percent of the nation’s 11.1 million underwater homeowners will be eligible for aid, according to an analysis by Ted Gayer, co-director of economic studies at the Brookings Institution.
The HUD inspector general’s reports show the undisguised contempt of the banks for the government investigation. Bank of America, for example, refused to provide complete files and documents and refused to provide some of its foreclosure policies to HUD investigators. It failed to fully comply with subpoenas. It also limited employee interviews and ordered employees not to answer certain questions.
JPMorgan would not provide certain records, while other records were incomplete. Wells Fargo did not allow the inspector general to interview some employees and failed to provide information in a “timely manner,” the inspector general reported. Ally Financial put up similar roadblocks, according to the inspector general’s report on that bank.
Despite these attempts at sabotage, the HUD reports document the systematic fraud carried out by the banks, providing damning examples. One notary reported his workload going from 60 to 200 documents per day to more than 20,000. Another employee reported signing 18-inch stacks of documents at a time.
Wells Fargo employees reported signing as many as 600 documents per day. When employees told upper-level management they could not handle the workload, the bank shortened the turnaround time for document signatures.
Citigroup’s mortgage unit “regularly signed foreclosure documents when not in the presence” of a notary public, as required by law, the inspector general said.
The report on Ally Financial said that an employee “routinely” signed 400 foreclosure affidavits per day and 10,000 a month without reviewing the supporting documentation.
JPMorgan Chase supervisors told HUD officials they often signed affidavits as an “assistant secretary” or “vice president,” when those were not their official titles. They had simply been given those titles by Chase to allow them to sign legal documents.
That the government rewarded the banks for breaking the law and then refusing to cooperate with investigators by giving them a sweetheart deal underscores the complete impunity with which the American financial aristocracy carries out its acts of social plunder. Like the French Ancien Regime, they are a law unto themselves and not subject to the rules that apply to the “mob.”
BY TIMOTHY P
CARNEY
Obama Is Making
You Poorer—But Who’s Getting Rich?
Goldman
Sachs, GE, Pfizer, the United Auto Workers—the same “special interests” Barack
Obama was supposed to chase from the temple—are profiting handsomely from
Obama’s Big Government policies that crush taxpayers, small businesses, and
consumers. In Obamanomics, investigative reporter Timothy P. Carney digs
up the dirt the mainstream media ignores and the White House wishes you
wouldn’t see. Rather than Hope and Change, Obama is delivering corporate
socialism to America, all while claiming he’s battling corporate America. It’s
corporate welfare and regulatory robbery—it’s Obamanomics.
Congressman
Ron Paul says, “Every libertarian and free-market conservative needs to read Obamanomics.”
And Johan Goldberg, columnist and bestselling author says, “Obamanomics
is conservative muckraking at its best and an indispensable field guide to the
Obama years.”
If
you’ve wondered what’s happening to America, as the federal government swallows
up the financial sector, the auto industry, and healthcare, and enacts deficit
exploding “stimulus packages,” this book makes it all clear—it’s a big scam.
Ultimately, Obamanomics boils down to this: every time government gets bigger,
somebody’s getting rich, and those somebodies are friends of Barack. This book
names the names—and it will make your blood boil.
*
Obama Is Making You Poorer—But Who’s Getting Rich?
Goldman
Sachs, GE, Pfizer, the United Auto Workers—the same “special interests” Barack
Obama was supposed to chase from the temple—are profiting handsomely from
Obama’s Big Government policies that crush taxpayers, small businesses, and
consumers.
Investigative
reporter Timothy P. Carney digs up the dirt the mainstream media ignores and
the White House wishes you wouldn’t see. Rather than Hope and Change, Obama is
delivering corporate socialism to America, all while claiming he’s battling
corporate America. It’s corporate welfare and regulatory robbery—it’s
Obamanomics. In this explosive book, Carney reveals:
* The
Great Health Care Scam—Obama’s backroom deals with drug companies spell
corporate profits and more government control
* The Global Warming Hoax—Obama has bought off industries with a pork-filled bill that will drain your wallet for Al Gore’s agenda
* Obama and Wall Street—“Change” means more bailouts and a heavy Goldman Sachs presence in the West Wing (including Rahm Emanuel)
* Stimulating K Street—The largest spending bill in history gave pork to the well-connected and created a feeding frenzy for lobbyists
* How the GOP needs to change its tune—drastically—to battle Obamanomics
* The Global Warming Hoax—Obama has bought off industries with a pork-filled bill that will drain your wallet for Al Gore’s agenda
* Obama and Wall Street—“Change” means more bailouts and a heavy Goldman Sachs presence in the West Wing (including Rahm Emanuel)
* Stimulating K Street—The largest spending bill in history gave pork to the well-connected and created a feeding frenzy for lobbyists
* How the GOP needs to change its tune—drastically—to battle Obamanomics
If
you’ve wondered what’s happening to our country, as the federal government
swallows up the financial sector, the auto industry, and healthcare, and enacts
deficit exploding “stimulus packages” that create make-work government jobs,
this book makes it all clear—it’s a big scam. Ultimately, Obamanomics boils
down to this: every time government gets bigger, somebody’s getting rich, and
those somebodies are friends of Barack. This book names the names—and it will
make your blood boil.
*
Praise for Obamanomics
Praise for Obamanomics
“The
notion that ‘big business’ is on the side of the free market is one of
progressivism’s most valuable myths. It allows them to demonize corporations by
day and get in bed with them by night. Obamanomics is conservative
muckraking at its best. It reveals how President Obama is exploiting the big
business mythology to undermine the free market and stick it to entrepreneurs,
taxpayers, and consumers. It’s an indispensable field guide to the Obama
years
—Jonha Goldberg, LA Times columnist and best-selling author
—Jonha Goldberg, LA Times columnist and best-selling author
“‘Every
time government gets bigger, somebody’s getting rich.’ With this astute
observation, Tim Carney begins his task of laying bare the Obama
administration’s corporatist governing strategy, hidden behind the president’s
populist veneer. This meticulously researched book is a must-read for anyone
who wants to understand how Washington really works.”
—David Freddoso, best-selling author of The Case Against Barack Obama
—David Freddoso, best-selling author of The Case Against Barack Obama
“Every
libertarian and free-market conservative who still believes that large
corporations are trusted allies in the battle for economic liberty needs to
read this book, as does every well-meaning liberal who believes that expansions
of the welfare-regulatory state are done to benefit the common people.”
—Congressman Ron Paul
—Congressman Ron Paul
“It’s
understandable for critics to condemn President Obama for his ‘socialism.’ But
as Tim Carney shows, the real situation is at once more subtle and more
sinister. Obamanomics favors big business while disproportionately punishing
everyone else. So-called progressives are too clueless to notice, as usual,
which is why we have Tim Carney and this book.”
—Thomas E. Woods, Jr., best-selling author of Meltdown and The Politically Incorrect Guide™ to American History
—Thomas E. Woods, Jr., best-selling author of Meltdown and The Politically Incorrect Guide™ to American History
*
·
Hardcover: 256 pages
·
Publisher: Regnery Press (November 30,
2009)
·
Language: English
·
ISBN-10: 1596986123
·
ISBN-13: 978-1596986121
ARE AMAZED AT HOW UTTERLY BRAZEN THESE CORPORATE OWNED
POLITICIANS ARE?
GET THIS BOOK!
Culture of Corruption: Obama and His Team of Tax Cheats,
Crooks, and Cronies
by Michelle Malkin
Editorial Reviews
In her shocking new book, Malkin digs deep into the records
of President Obama's staff, revealing corrupt dealings, questionable pasts, and
abuses of power throughout his administration.
From the Inside Flap
The era of hope and change is dead....and it only took six
months in office to kill it.
Never has an administration taken office with more inflated
expectations of turning Washington around. Never have a media-anointed American
Idol and his entourage fallen so fast and hard. In her latest investigative
tour de force, New York Times bestselling author Michelle Malkin delivers a
powerful, damning, and comprehensive indictment of the culture of corruption
that surrounds Team Obama's brazen tax evaders, Wall Street cronies, petty
crooks, slum lords, and business-as-usual influence peddlers. In Culture of
Corruption, Malkin reveals:
* Why nepotism beneficiaries First Lady Michelle Obama and
Vice President Joe Biden are Team Obama's biggest liberal hypocrites--bashing
the corporate world and influence-peddling industries from which they and their
relatives have benefited mightily
* What secrets the ethics-deficient members of Obama's
cabinet--including Hillary Clinton--are trying to hide
* Why the Obama White House has more power-hungry,
unaccountable "czars" than any other administration
* How Team Obama's first one hundred days of appointments
became a litany of embarrassments as would-be appointee after would-be
appointee was exposed as a tax cheat or had to withdraw for other reasons
* How Obama's old ACORN and union cronies have squandered
millions of taxpayer dollars and dues money to enrich themselves and expand
their power
* How Obama's Wall Street money men and corporate lobbyists
are ruining the economy and helping their friends In Culture of Corruption,
Michelle Malkin lays bare the Obama administration's seamy underside that the
liberal media would rather keep hidden.
• Publisher:
Regnery Publishing (July 27, 2009)
• Language:
English
• ISBN-10:
1596981091
• ISBN-13:
978-1596981096
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