Posted on 09/09/2011 7:51:01 AM PDT by SeekAndFind
He is frighteningly credible.
And, he did not even mention the mess with the paperwork trail and inability to convey clear title to the properties that were bundled as investments.
The multiple sales of the same properties must have been an integral part of the scheme. That is why they were not recorded at the local courthouse with the MERS. That failure allowed the multiple sales to take place.
BIG Securities FRAUD! Someone MUST GO TO JAIL.
Can someone please explain to me what happens if you have your mortgage with Bank of America? They have messed up my payments since they took over Countrywide and are threatening to forclose despite many, many letters and phone calls trying to straighten out the mess. Thanks for help from anyone.
But what would we do with the millions of tons of pure evil that Bank of America contains? Can it be recycled somehow, such as being used to build law offices? And what would we do with those hordes of incompetent employees, who are not even fit for government work?
I’d rather have a bank that was guaranteed by my state, rather than the feds. A state has real assets to back it up (land/property), and would be much easier to convert to a gold standard.
Companies that continually make bad business decisions need to die, and not keep being bailed out by the taxpayers.
Let it go.
That’s fine but there still is the issue of insured deposits. Is it worth it to us to have to come up with $300 billion or so to make the depositors whole or is it better to reorganize in an orderly fashion to avoid that payment?
Ken Lewis’ acquisition of Countrywide might well go down in history as the worst purchase in American corporate history.
I think firing squads are more in order.
Texas actually executes people for crimes, but Securities Fraud is not one of them.
This “Crime” is serious enough to warrant that punishment (in China it would happen), but not here.
Think of the lives that are affected by this Fraud. Investors, property purchasers, employees of the banks and the public who have to pay for the losses. THIS IS HUGE and serious.
Bank of America is one of the 9 annointed banks that served the US Government during TARP. None of the 9 annointed banks will be at serious risk of failure. The Fed Gov will save them. This is how they play ball in the big leagues. Maybe Bank of America should go bankrupt but the government will not allow it. Even under a Republican president, the Federal government will not allow Bank of America to fail. The 9 annointed banks and the US government are now joined at the hip.
RE: Bank of America is one of the 9 annointed banks that served the US Government during TARP. None of the 9 annointed banks will be at serious risk of failure. The Fed Gov will save them.
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Warren Buffet ( who is close to Obama and who Obama constantly refers to ) already knows this. Why do you think he invests his billions in Goldman Sachs, GE Capital and most recently, Bank of America?
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