AP source: FBI looking at foreclosure mess

WZZM ^ | 10/19/10

[earlJam]

Gannett article removed. Gannett allows none of their material to be posted on Free Republic.

[Palter]

'Foreclosures are as important as securing our borders, deporting illegals, and arresting Islamofascist terrorists. /sarc'

The cost of such fraud in the economy might be equal to the above.

Gov't always rushes to the present 'disaster' and loses sight of the big picture.

[meadsjn]

How do we know they didn’t chop them into 100 pieces and then sell 300 pieces?

Here's one very simple way to tell.

The outstanding residential mortgage total amount in the United States is $6.044 Trillion.

The total dollar amount of securities for which the banksters have been demanding taxpayer support is many times that amount.

How else does Six Trillion get turned into 26 Trillion in one analysis, then 50 or 80 Trillion in another, then 400 Trillion in others.

[LonghornFreeper]

From the article:

The official says the question is whether financial institutions were acting with criminal intent or were simply overwhelmed by events in the wake of the housing market's collapse. The official spoke on condition of anonymity because the investigation is just getting under way.

This is why we need a French revolution in this country, with guillotines and all. Do you think a regular person would get anything like that kind of benefit of the doubt from the FBI or the police?

"Sorry, officer, I was only speeding because I was overwhelmed by the situation, specifically how late I was for this meeting."

or...

FBI Agent: We chose not to bring criminal charges in this case, since even though the defendent stole a car, he was just overwhelmed by losing his job and having his old car repo'd.

[longtermmemmory]

it is very sad when the FBI is doing the job of the mandatory Bars.

Why is it the larger the law firm, the greater the blind eye?

[Stand Watch Listen]

Why is it the larger the law firm, the greater the blind eye?

When 'billable hours' became their exclusive mantra.

[longtermmemmory]

this is about falsifying documents to establish standing as a plaintiff.

Just because you say somebody owes you money, does not mean you are automatically the plaintiff.

These law firms and banks were producing proof “automagically” upon demand.

[Jude in WV]

I didn’t mean that I saw this as an accountant involved in the deals. I saw friends and family members obtain the fraudulent loans with fake appraisals. I saw foreclosures where crooked bankers didn’t do proper paperwork and the banks lost money. Their CPA and lawyer friends bought up the foreclosed property for nearly nothing and sold it for big profits.