Sweeping Fraud under the Rug

Filed in bank of america, Debt, democrats, Gold Market, jp morgan, obama by on October 22, 2010 0 Comments

It’s things like this that aggravate me… Americans have been ransacked by Republicans and Democrats alike… for years. Failed policies and ideas have been nothing more than a joke. Debt is out of control. Housing isn’t improving. Yet we’re told that all is well. That we’re in a recovery… but it just won’t feel like a recovery. We’ve bailed out the banks countless times.. only to watch them screw us again and again. And now we’re told the foreclosure crisis is nothing to get upset about. Come on. As I’m reporting in Saturday’s Wealth Daily: A Wells Fargo employee in South Carolina said in a March deposition that she typically signed 300 to 500 foreclosure documents in a single day and 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. And there’s overwhelming “spin” that these are merely paperwork problems. Sham documentation and paperwork, and clerical gaffes aside, the systemic risk here is troubling. No one knows how many fraudulent mortgages and proceedings are out there. According to JP Morgan’s Ed Reardon, “In our view, many of the mortgage foreclosure problems highlighted in the…

Read more here:
Sweeping Fraud under the Rug

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

About the Author ()

Leave a Reply

Your email address will not be published.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