Posted on 10/06/2010 9:12:55 PM PDT by Kartographer
Attorney General Eric Holder says the government is looking into allegations that mortgage lenders in the foreclosure crisis have been evicting homeowners using flawed court papers.
At a news conference, the attorney general said the Justice Department is aware of the accusations that have surfaced and that the government is examining them.
(Excerpt) Read more at google.com ...
He is looking into coving it up that is.
Looks like he better hurry because a few more State AG’s start acting and the whole thing is going to bust wide open.
http://www.freerepublic.com/focus/f-news/2602907/posts
Have no fear. All minority owned banks will be cleared of wrong doing as they are not interested in prosecuting misconduct by them. I wonder if the NBP have a bank?
Gotta keep those poor homeowners with mortgages too big bought off ya know.
Nothing good can come of this.
There is clearly a serious issue on the chain of title for mortgage holders. But Holder will end up changing it into an evil mortgage holders issue and demagogue the whole thing—he will hold out the possibility that folks will get their homes for free.
If he does this, it will make it very difficult to solve the real problem. And it’s very important that it be solved. If mortgagors become unable to foreclose, the whole shebang will come down fast and make the great depression look like a bed of roses.
I expect cooler heads to prevail—even in this administration. Obama’s economic team has been bad but they are not so stupid that they cannot see the consequences of removing a substantial part of the security that every bank and financial institution in the world relies on for solvency and a substantial part of the security on which the CDS’s still depend. There’s not enough money, even in Obama’s fantasy world, for the government to FDIC all the banks in the US.
Progressives/liberals do NOT “solve problems”....they make problems....so they have something to DO...and collect taxes for....
He is looking into coving it up that is.
>>
BINGO!
Is he looking into it like he “looked into” Black Panther voter intimidation?
Progressives/liberals do NOT “solve problems”
They do if George Soros will go broke if the problem isn’t solved. This is a George Soros and everyone else goes broke type problem.
uhbama, working with ACORN at the time, probably taught some of them how to hit the streets and visit the HOMES of BANKERS who refused to engage in this house of cards.
Imagine being a bank president and having ten or more people picketing YOUR HOUSE!
I am not of fan of how many banks do business, but I have a choice of banks to choose from. And I certainly am willing to allow the market to set it right and our laws to right the wrongs. But I believe what is going on with this investigation is a deflection and a distortion. eric holder the bigot can attempt, like others, to make this foreclosure DEBACLE the fault of banks, but it will not fly with many...because the banks have a right to reclaim when a loan is being ignored by the borrower.
I imagine some banks have had to resort to all sorts of schemes to RIGHT what those SNAKES in CONGRESS forced them to do...and I am sure eric and others want to SCARE other banks into holding on to the horrific mass of homes where no morgage payment is being made to avoid being investigated.
I DISPISE THIS ADMINISTRATION! What is the end goal here? To have the federal government take over the banking industry so they can pull from our savings and checking accounts at will?
It’s true, and it’s been going on for years whenever debt paper is sold.
“More ‘blood in the water’ or another ‘red herring’?”
Blood in the water. The lenders screwed up big time. And it doesn’t help the lenders that there happens to be a ‘soak the rich’ focus in the executive branch.
The lenders deserve the flogging they’re going to get. Not because of their economic status, but because of their egregrious conduct.
Which party was in control of Congress when this began? Jes' askin....
Back in September 2008, at the height of the Greatest Crisis In The History Of The Universe, when Hank Paulson was on his knees in front of Nancy Pelosi, I was steadfast here on FR in advocating that the banks be made to eat their own dog food, and that nothing good would happen in the economy until they did.
You would not BELIEVE the ration of crap I caught for this. It was "Shut up you Commie, we have to save the investment banks!! Sweet Mother of Mercy, save the suffering banks!!" from a whole corps of Freepers who have since had the good sense to STFU.
And still, nothing good will happen in the economy until the investment banks owning MBS come clean, and honestly value their balance sheets.
“Which party was in control of Congress when this began? Jes’ askin....”
Started during Clinton, continued under Bush. While he did make several attempts to stop it there was not enough support in Congress from either party.
I agree with your comments. Regardless of deficiencies in mortgage paperwork, banks are not foreclosing on people who are paying their mortgages.
I think it’s safe to say that both parties’ pols profited greatly from the housing bubble. Which was the subtext to my question above....
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