Helping Homeowners In Michigan
Archive for May 17th, 2011
NY AG: Handcuffs A-Coming?
May 17th, 2011 | 
Author:
Mr. Schneiderman will hold meetings with executives of several major banks, including Bank of America Corp., Morgan Stanley and Goldman Sachs, according to people familiar with the investigation. He intends to discuss securitization of mortgage loans and other mortgage practices and has requested related documents from the firms, these people said. The meetings over securitization are expected to happen in the coming week.
Oh come on, there’s nothing wrong that happened here. I mean, it’s not like a former executive of one of the big banks testified that by 2007 80% of the loans they were making didn’t meet quality standards but they sold them anyway, right?
“In mid-2006, I discovered that over 60 percent of these mortgages purchased and sold were defective,” Bowen testified on April 7 before the Financial Crisis Inquiry Commission created by Congress. “Defective mortgages increased during 2007 to over 80 percent of production.”
Oh wait…. one of them did….
Posted in Banks, Citigroup, Corruption, Debt, Economic Crisis, Economy, Financial System, Fraud, Money, Mortgage-Backed Securities, Mortgages, Securitization | 
Tags: Bank of America, Goldman Sachs, Morgan Stanley, Richard Bowen | 
Comments Closed
proudly supports:
Bill Still For President
for Congress
Michigan 11th District
By Bill Still
There is only one answer for the world economic situation; monetary reform.
1. No More National Debt
2. No More Fractional Lending
PDF PowerPoint Congressional Patriots Federal Reserve Balance Sheet Paulson's Lies Bernanke's Lies FedUpUSA Archive Mathematics of Failure Media Kit Door Hanger Corruption Flier Bank Flier Made In America A list of products and services made right here in the USA. Choosing to buy American made products preserves and creates American jobs.