Posted on 03/18/2010 11:08:17 AM PDT by Liz
Communist Van Jones went from the WH to a job at The Center for American Progress, a liberal think tank: Washington Post reported that “seed money for the center pledged by such deep-pocketed Democrats as financier George Soros and sub-prime mortgage billionaires, Herbert and Marion Sandler, assisted in the liberal think tank's formation.
So who ran these ads in Mexican newspapers that advertised free houses in the US? Because we know w/ unerring certainty that illegals/latinos were getting the bulk of sub-prime mtges w/out proof of citizenship or income---if they could breathe, and make an X on the mtge app, they got mortgages they could not possibly payoff.
We're finding out the toxic mortgages that poisoned the global economy (and brought the US economy to its knees) were held by leeches with larceny on their minds, who never intended to payback banks. Sap-happy Barack Obama and other braindead do-gooders sued to pressure banks into loaning to marginal people.
Illegals were never asked for proofs---pay stubs, SS numbers, etc. As long as they had a pulse and could write the names of one of their phony identities, they got a loan. Many were scam artists----flipping the home back and forth among illegal immigrant families at higher and higher profits, duping banks at every turn. When they were done looting, the last "homeowner" defaulted and absconded to Mexico with $tens of thousands in cash.........leaving banks (and taxpayers) holding the bag. Screwing banks and US taxpayers must get lotsa laughs over tequila shots in downtown Tiajuana.
BACKSTORY Herbert and Marion Sandler sold their bank --- Golden West and its junk paper for $2.4 billion ---in 2006 at the top of the market, saying that they were growing older and wanted to devote themselves "to philanthropy."
Just a year earlier, in 2005, World Savings lending had started to slow, after more than quadrupling since 1998. Some current and former Wachovia officials say that the merger was agreed to in days and that it was impossible to conduct a thorough vetting of
World Savings’ loans. They noted that the creditworthiness of World Savings borrowers edged down from 2004-2006, while the Sandler's innovative "Pick-A-Pay"
borrowers had credit scores well below the industry average for traditional loans.
New York Times: “Once invited by Congress to testify about good lending practices, the Sandlers were later parodied on ‘Saturday Night Live’ as greedy bankers who handily sold their bank — and pocketed billions in shares and cash — in 2006 -- before many of their sub-prime loans began to sour. Most analysts now agree that the acquisition of the Sandlers' bank, Golden West, spelled the end for Wachovia.
Last month, the United States attorney’s office in San Francisco announced dual inquiries into whether World Savings engaged in predatory lending practices or misled investors about its financial well-being. And the bank has been sued by numerous borrowers who claim they were misled into taking out mortgages they could not afford. At the center of the controversy is "Pick-A-Pay" --an exotic but popular mortgage the Sandlers pioneered--- that allowed borrowers to pay less than the interest due on their loan each month -- which increased the total amount owed by the borrower. That scheme helped generate billions of dollars of revenue at their bank.” It is another version of the ghetto shopkeepers who sold poor blacks cheap furniture and TVs for $5 a week. The weekly payments never ended since the shoddy goods had to be replaced over and over.
According to the "Glenn Beck Program," mortgage billionaires Herbert and Marion Sandlers paid ACORN to send out protesters to hound Wells Fargo Bank-----the Sandlers' competition. If true, this is an explosive allegation.
RICO laws have been employed in cases where it can shown that a conspiracy in restraint of trade or to cause injury to a business competitor occured.
The FBI, DOJ, US Postal Service, IRS, and SEC should determine the scope and depth of possible collusion and whether these "tax-exempt foundations and do-gooder charities" conspired to collude for personal profit.
Forensic auditors should examine all of the official documents Herbert and Marion Sandler Foundation submitted to retain its tax exempt status to determine if falsified documents were submitted.
Falsifying official documents incurs felony charges for 1st-degree tampering with public records, 1st-degree offering of a false instrument for filing, 4th-degree grand larceny, and 1st-degree falsifying of official records.
REPORT TAX FRAUD AND TAX LAW VIOLATIONS HERE:
IRS TOLL-FREE 1-800-829-0433----you may remain anonymous.
EMAIL .......OAAG.Tax@tax.USDOJ.gov
Ask the IRS to determine if taxes were paid (stolen money is taxable).
IRS TOLL-FREE 1-800-829-0433—-you may remain anonymous when reporting tax fraud.
Report fiduciary negligence; signing off on falsified documents here:
EMAIL askDOJ@usdoj.gov
The Sandler's Golden West Bank should also come under scrutiny. Schemes may have included misusing corporate reserve accounts, concealing losses, inflating asset values and improperly accounting for transactions, as well as deferring profits into reserve accounts, improperly shifting capital funding to other projects to hide payments to ACORN, ACLU, etc. Money laundering schemes may have been employed to evade the IRS, SEC, FEC and US banking laws.
Report here:
EMAIL askDOJ@usdoj.gov
FBI TIP PAGE http://tips.fbi.gov/ (you may remain anonymous)
EMAIL enforcement@SEC.gov
As FReeper Brugmansian posted: Always wondered if Wachovia buying Golden West and its junk paper for $24 billion from Herb & Marion Sandler just before the market collapse was an inside job. It seems too convenient the Sandlers had a buyer who didn't know what they were doing right at the top of the market. Where are those who signed off on the Sandler purchase? What assets do they have?
Wachovia Bank, a part of Wells Fargo & Co, is in talks with the Justice Department to settle US government allegations that a failure in bank controls enabled Mexican exchange houses to launder drug money... The U.S. attorney's office in Miami led the probe, begun about three years ago, focusing on the role the government alleges a Wachovia correspondent-bank unit played in processing illegal money transfers for the exchange houses... (Excerpt) Read more at online.wsj.com ...
Note this extends back to his "Glory Days" as a "community organizer" in Chicago 20 years ago.
He complains about inheriting a bad economy from George Bush - he helped create that bad economy.
Woah!
BOOKMARKED
I wonder if Van will be campaigning for Meg Whitman? She (hearts) him.
Is there a site where someone can look at these “these ads in Mexican newspapers that advertised free houses in the US”? This is the first I have heard of that, and it seems potentially prosecutable.
Wachovia bought the Sandler’s World Savings.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.