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Old 08-07-2011, 06:16 PM
 
Location: Tampa Florida
22,230 posts, read 17,779,642 times
Reputation: 4585

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60 minutes is doing a piece on Banks creating false paper work for Mortgages they are trying to forclose on. Thousands of them. They issued the Mortgages without paper work for several years during the feeding frenzy of sub prime bundled assets. That is illegal, it was found out over a year ago, about no documents, now all of a sudden they show up, and they are forged. Stunning stuff. I hope these Banks have to eat these foreclosures.
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Old 08-07-2011, 06:19 PM
 
810 posts, read 832,517 times
Reputation: 491
The funny thing is that NONE of the names those bankers involved will ever be known to the public. They are protected by the government, who utilize their services for illicit funds.
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Old 08-07-2011, 06:19 PM
 
Location: The middle of nowhere Arkansas
3,325 posts, read 3,157,370 times
Reputation: 1015
Quote:
Originally Posted by florida.bob View Post
60 minutes is doing a piece on Banks creating false paper work for Mortgages they are trying to forclose on. Thousands of them. They issued the Mortgages without paper work for several years during the feeding frenzy of sub prime bundled assets. That is illegal, it was found out over a year ago, about no documents, now all of a sudden they show up, and they are forged. Stunning stuff. I hope these Banks have to eat these foreclosures.
If this is happening I'm guessing some folks get to go to jail.
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Old 08-07-2011, 06:20 PM
 
Location: Raleigh, NC
20,054 posts, read 18,212,526 times
Reputation: 3826
Wow, not blaming the 'Pubs this time, fb? Slacking you are!
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Old 08-07-2011, 06:22 PM
 
810 posts, read 832,517 times
Reputation: 491
Quote:
Originally Posted by Dutchman01 View Post
If this is happening I'm guessing some folks get to go to jail.
Did you ever hear of the BCCI or the Savings and Loans scandals? Thousands of people were involved and hundreds of billions were lost and stolen. Barely a handful of people ever went to court and instead the public had to pay to fix the mess your dear bankers created.

Quote:
Originally Posted by summers73 View Post
Wow, not blaming the 'Pubs this time, fb? Slacking you are!
You are part of the problem. The financial robber barons have no allegiance to party or country and pretending like its not both sides working together is disingenuous at this point.
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Old 08-07-2011, 06:22 PM
 
9,855 posts, read 10,374,449 times
Reputation: 2881
Quote:
Originally Posted by florida.bob View Post
60 minutes is doing a piece on Banks creating false paper work for Mortgages they are trying to forclose on. Thousands of them. They issued the Mortgages without paper work for several years during the feeding frenzy of sub prime bundled assets. That is illegal, it was found out over a year ago, about no documents, now all of a sudden they show up, and they are forged. Stunning stuff. I hope these Banks have to eat these foreclosures.
This is not new news.
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Old 08-07-2011, 06:23 PM
 
Location: The middle of nowhere Arkansas
3,325 posts, read 3,157,370 times
Reputation: 1015
Quote:
Originally Posted by AllenDullesMJ12 View Post
The funny thing is that NONE of the names those bankers involved will ever be known to the public. They are protected by the government, who utilize their services for illicit funds.
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Old 08-07-2011, 06:24 PM
 
19,226 posts, read 15,256,618 times
Reputation: 2337
Quote:
Originally Posted by florida.bob View Post
60 minutes is doing a piece on Banks creating false paper work for Mortgages they are trying to forclose on. Thousands of them. They issued the Mortgages without paper work for several years during the feeding frenzy of sub prime bundled assets. That is illegal, it was found out over a year ago, about no documents, now all of a sudden they show up, and they are forged. Stunning stuff. I hope these Banks have to eat these foreclosures.
This is definitely constructive fraud.

It's almost like building new homes.
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Old 08-07-2011, 06:24 PM
 
Location: Tampa Florida
22,230 posts, read 17,779,642 times
Reputation: 4585
Quote:
Originally Posted by Dutchman01 View Post
If this is happening I'm guessing some folks get to go to jail.
Atty Generals in every State are looking into it. Multiple Billions are involved. They report about one Doc mil, called Dox in Georgia, that process fake paperwork for the Pres/CEO of 30 some Mortgage Cos and Banks. The same person was that CEO name, ... at the same time. The actual person was a former stock cleark who took a job creating the documents for $10/hr.
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Old 08-07-2011, 06:25 PM
 
Location: Riverside
4,088 posts, read 4,368,271 times
Reputation: 3092
Quote:
Originally Posted by florida.bob View Post
60 minutes is doing a piece on Banks creating false paper work for Mortgages they are trying to forclose on. Thousands of them. They issued the Mortgages without paper work for several years during the feeding frenzy of sub prime bundled assets. That is illegal, it was found out over a year ago, about no documents, now all of a sudden they show up, and they are forged. Stunning stuff. I hope these Banks have to eat these foreclosures.
Don't bet on the Obama Justice Dept going after the banksters.

Holder would probably like too- he strikes me as a guy sincere in his concern for social justice.

But Obama would never go for it- the financial pirates who almost literally tore this country down around his over-sized ears are Obama's "base" .
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