Posted on 06/23/2017 6:35:00 PM PDT by Trump20162020
Sen. Bernie Sanders (I-VT) and his wife, Jane Sanders have hired prominent defense attorneys, amid an FBI investigation into a loan Jane Sanders obtained to expand Burlington College while she was its president, CBS News confirms.
Politico Magazine first reported the Sanders had hired lawyers to defend them in the probe. Sanders top adviser Jeff Weaver told CBS News the couple has sought legal protection over federal agents' allegations from a January 2016 complaint accusing then-President of Burlington College, Ms. Sanders, of distorting donor levels in a 2010 loan application for $10 million from People's United Bank to purchase 33 acres of land for the institution.
According to Politico, prosecutors might also be looking into allegations that Sen. Sanders' office inappropriately urged the bank to approve the loan.
(Excerpt) Read more at cbsnews.com ...
Bank Fraud????
Wait... He’s a Socialist!!!! He’s supposed to HATE banks!!!
What is a good little Comrade like him doing with a Bank???
The Bern needs to resign.
It’s not like a Marxist to think he can just take someone else money, is it ? (Sarc)
Putin should offer Bernie Sanders Asylum.
...,there are a lot of washed up and disgruntled communists for Bernie to play checkers with.
So this helps explain how Not So Crazy Bernie and Wife bought their 600k home after his defeat... Let see how CNN or the rest of the lame stream media report on this.
Were you not paying attention in 2007? Overlending was part of the foreclosure crisis. One woman came to me for help and when I examined her papers I could see that from the time she applied for the loan to the time it was actually granted, the balloon amount with Deutsche Bank had jumped from 10% to 12.5%. She lost the house. DB continues to be in trouble both financial and legal as explained in great detail in this link, and there is also a good timeline of the 2008 crisis.
The article reports that the European Union has enacted strong provisions so that 2008 does not happen to their entire banking system. We enacted provision for similar reasons and purpose. I don’t know how effective they have been, but the Republican plan is to get rid of them.
If you have not seen the movie “The Big Short” by all means do so. It is about two smart young guys who identified the pending lending crisis in 2007 and shorted a lot of stock on margin and made a fortune in 2008 when the market crashed.
They are holding off on the Hillary/Clinton investigating until closer to the 2020 campaign period.
“Were you not paying attention in 2007?”
Are you always this obnoxious when you didn’t read (or didn’t comprehend) what I wrote?
1. I was talking about the current situation, a decade after your snotty comment. Loan requirements have tightened up quite a bit.
2. I very clearly said I haven’t gotten a loan in over 15 years. Therefore what I experienced was long before the Barney Frank housing bill that forced banks to give loans to people (mainly minorities) that couldn’t repay them.
3. My point, which you obviously couldn’t get, was that long before the Barney Frank Bill and long after, I still think banks are lending people way too much money, given they still have to be able to for the utilities, insurance, furniture, food, vehicles, etc.
Just think Bernie, if ya kept ya mouth shut after the elections ya might have gotten off scott free.
“Not to defend the Socialist duo but isnt this kerfuffle between the bank and the borrower?”
A Senator can affect bank regulations. Years ago, when I had imported prescription drugs from Canada, they were seized. I got a Senator’s secretary to make a call and they were released, despite a new law saying they couldn’t be. That’s because nobody in their right mind pisses off a Senator. So, if Bernie’s office made a call to “persuade” the bank to loan, then it is similar to strong arm robbery.
When I was working on government contracts our standard of ethics was much, much higher than the ethics required of politicians. At the lower level where I worked on contracts, every dime was accounted for. But six billion dollars vanished while Hillary was in charge at State and nobody is even looking under the sofa cushions. Different standards for different folks. Or, “Some animals are more equal than others.”
I’m sorry, I didn’t mean to be snotty when I commented. It’s just that I get so angry when I think of all the people who lost their homes, not only because they gave too much credit to people who could not manage it, but for actually criminal trickery. Apparently some have not learned as we saw with the recent Wells Fargo case where: “Employees were encouraged to order credit cards for customers who had been pre-approved without their consent, and to use their own contact information when filling out requests to prevent customers from discovering the fraud. Employees also created fraudulent checking and savings accounts, a process that sometimes involved the movement of money out of legitimate accounts.” Greedy crooks, grrrrrrr! Of course, it hasn’t helped that the employees who write the loans get a percentage of the size of the loan.
https://en.wikipedia.org/wiki/Wells_Fargo_account_fraud_scandal
I too have been conservative with my requests from banks. My equity line of credit is only 1/6th the value of the house, and when I advised my son, I urged him to request no more than 1/3rd his home’s value. He is in Special Forces, and thankfully respects my advice. Good luck, FRiend???
Thank you FRiend, and I certainly understand your angst.
It also makes me extremely angry. I had friends that bought at the high side, and either had to be foreclosed upon or keep paying double what their house was worth. That’s a bad situation to be forced into.
We bought in 2004z And then watched our house price double, and then watched it go to about 65% of what we paid for it. Luckily we never had to sell until we were able to break even.
And al because banks were forced to give loans to people who shouldn’t have them. So prices skyrocketed. Unsustainably so. I saw the prices in our area and thought “new homebuyers are now priced out of the market”. We no longer have a democracy when things like that happen. Then people are forced to rent, like they do in much of Europe. And they are stuck having to pay higher and higher rents on smaller and smaller apartments. There is no freedom in that! (Even though they get “free” healthcare and education)
We are on the same page! Have a fantastic evening.
What is that building? That better not be one of Sanders homes! He could house an entire small country from South America in there.
Agency officials said they found the school’s records in disarray, in part because of an unsolved burglary.
Heheheh.......burglary....of evidence.
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