Weekend: Profit from the Foreclosure Fraud

Welcome to the Wealth Daily Weekend Edition — our insights from the week in investing and links to our most-read Wealth Daily and sister publication articles. “All is well,” the White House once told us. We’re in a continued recovery that just “won’t feel terrific,” Bernanke explained. And now they tell us that foreclosure fraud shows no risk of systemic fallout. The Obama Administration can say they haven’t found fault with loans, but examples beg to differ. USA Today reported the story of a Wells Fargo employee from South Carolina who said she signed 300 to 500 foreclosure documents in a single day… That her only other responsibility “was to make sure her name and title were written correctly… Shown a foreclosure affidavit that she had signed in 2009, she said she did not know if the information was accurate. ‘My knowledge of this affidavit is very minimal,’ she said in the deposition.” Advertisement Most Important 500 Square Miles on Earth Becomes Private Property It was a stretch of barren landscape just a couple hundred miles away from the North Pole… But locked within it sat a 50-year supply of the most important class of industrial metals known to man. Earlier this year— for the first time ever — a single company took hold of this land… And altered the course of the world’s high-tech market forever. Learn more here. And there’s overwhelming “spin” that these are merely paperwork problems. The funny thing is that those claiming it’ll “work itself out” have no clue regarding the liabilities associated with this stuff. A Washington Post article explained: “If the basic principles of property law have been violated here… it may be extremely difficult to fix,” said a source involved in government oversight of financial institutions, who spoke on condition of anonymity because of the uncertainties involved. “There is a chain of questions that no one seems to know the answer to.” Even the Financial Times tell us: This scandal is a mirror image of the lax and often improper lending practices that grew up in the years before the 2008 …

Read more here:
Weekend: Profit from the Foreclosure Fraud

Tags: , , , , , , , , , ,

About the Author ()

Leave a Reply

Your email address will not be published. Required fields are marked *