Posted on 12/06/2010 1:42:17 PM PST by The Magical Mischief Tour
Charlie Gasparino told Shep Smith today that Bank of America has set up a "legal swat team" in case the next big WikiLeak is directed at them.
The official line thus far is that they've had "no indication" they're being targeted, however Gasparino says he's spoken to a person who claims to have seen some of the bank-related documents and says that while they couldn't make out how damaging the documents were they "clearly pointed to Bank of America." The big fear inside Bank of America, says Gasparino, is that the documents will lead back to (BofA-owned)
Countrywide Financial, and show that the subprime loans that Countrywide gave out to high-risk applicants were fraudulent.
(Excerpt) Read more at businessinsider.com ...
“Countrywide Financial”
Hmmmmm I wonder if the loans to Chris Dodd are in there? Hahaha, maybe he will wind up in jail after all. Nah, only Republicans go to jail.
Why would they be setting up a SWAT team if they didn’t have massive irregularities on their books? If it’s just some run of the mill bad loans here and there- normal legal dept can handle it. No one sets up a major team like this if they don’t know it’s going to hit the fan.
They should be.
Gosh.... Wonder how the auditor is going handle this? Perhaps, just a footnote!
My first thoughts also.
So happy to be out from under BofA. I can’t stand them from any view, and I had nothing positive to say about my experience while they serviced my auto loan. I’m with a regional bank (SunTrust) that is most excellent from a customer service and servicing respect, and they didn’t take a bailout from the gov.
Yes^^^^^. These are the wikileaks I hope that get's out.
Countrywide and BOA knew these loans were toxic and still bundled them up and resold them.
Yes^^^^^. These are the wikileaks I hope get out.
Countrywide and BOA knew these loans were toxic and still bundled them up and resold them. Angelo made 600+ milllion and was fined only $67 million and no jail time. What a deal.
So "some" acts of treason are ok with you?
“I’m with a regional bank (SunTrust) that is most excellent from a customer service and servicing respect, and they didn’t take a bailout from the gov.”
As a stockholder, that had a nice amount of SunTrust im my portfolio before the banks were TARPED”, I’m glad you like SunTrust. They did take TARP money and are still not paying dividends because they haven’t paid it back.
I am so very disgusted with BIG BANK and BIG OIL. First when Chavez started taking BIG OIL’s stuff they did nothing and now when some two bit little jerk threatens to bring down a BIG BANK do nothing other than assemble a legal team.
WHAT ABOUT THE GOOD OLD DAYS WHEN THE BIGGIES WOULD TERMINATE WITH EXTREME PREDUDICE THEIR FOES?
This is just so demoralizing. Not the America that I grew up in. :)
Somebody cost this country a lot of money...
I said in 2008...”why aren’t people going to jail?”
The crazy election successfully distracted people from asking the right questions...although...many FReepers were wondering what the hell just happened?
When the justice/government systems fail...courts shall be kept in the parks and judgments rendered in the dark of night.
In this exact specific case, yes. Some people from CW and BOA should be in jail.
Treason against whom, in this case, the United States of Bank of America?
Is it treason? Is this some sort of “state secret” affecting the defense of our nation?
Or
Is it a whistleblower activity?
If treason is defined as outing financial illegalities and subsequent government-assisted cover up of same, I am cool as ice with it.
BOFA came into the picture after the fact after Countrywide originated the toxic mortgages and sold them. Treasury prevailed on BOA to acquire Countrywide as they prevailed on BOA to acqure Merrill Lynch. BOA did not sell any of the old toxic mortgages Counteywide originated.I cannot really blame BOA for the Countrywide mess before BOA acquired them. This sounds like another one of those overhyped Wikileak stories that promise all kinds of thunder only to have information released that is already in the public domain.
You think way too small. Rumor(actually lawsuits) say the countrywide loans put into the MBS’s were not assigned. That is illegal and it means the MBS’s contain worthless paper, and no mortgages. In addition to that the banking cartel is one giant pile of crime. There is not end to the list of things that could be in there. And this is the kind of stuff that Wikki leaks should have stuck to. Not endangering the national sovereignty of countries.
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