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"Five years later, the executives that were in charge of Bear’s headlong dive into the cesspool of subprime mortgage lending hold similar jobs at the most powerful banks on Wall Street: JPMorgan, Goldman Sachs, Bank of America and Deutsche Bank.
The fact they were able to emerge unscathed from a financial crisis that wiped out $19.2 trillion of household wealth in the US and as many as 8.8 million jobs has become part of the legacy of the financial meltdown."
The only person in all of the mortgage lending industry who has been punished, to the best of my knowledge, was former Countrywide Funding CEO Angelo Mozilo, and that was for insider trading, not predatory lending. He was fined 67 million (of which Countrywide/BOA paid 20 million due to terms of Mozilo's employment contract) During the decade 2001-2010 Mozili was number 6 on the list of best compensated CEO's at $528.6 million.
See, the money people always make out well for themselves, no matter how badly they screw their shareholders, their employees, and the economy in general.
I continue to wait for the perp walks of a multitude of Big Bank / Wall Street executives based on their fraudulent activities. But then again, Obama and his buddy Holder know where the best bribe money comes from.
Funny, I recall quite clearly the left ranting about how Bush was in the pocket of Enron CEO Ken Lay. Yet under Bush, some 47 senior and executive managers, including CEO Lay himself, were tried and convicted of fraud. What's taking Obama and Holder so long?
I can't believe people still do business with Goldman, JP Morgan, BOFA, Citi, Wells Fargo 4+ years later. It's truly maddening.
I use credit unions for all my financial dealings-even my mortgage, and it was the best decision I could've made.
The only person in all of the mortgage lending industry who has been punished, to the best of my knowledge, was former Countrywide Funding CEO Angelo Mozilo, and that was for insider trading, not predatory lending. He was fined 67 million (of which Countrywide/BOA paid 20 million due to terms of Mozilo's employment contract) During the decade 2001-2010 Mozili was number 6 on the list of best compensated CEO's at $528.6 million.
See, the money people always make out well for themselves, no matter how badly they screw their shareholders, their employees, and the economy in general.
I continue to wait for the perp walks of a multitude of Big Bank / Wall Street executives based on their fraudulent activities. But then again, Obama and his buddy Holder know where the best bribe money comes from.
Funny, I recall quite clearly the left ranting about how Bush was in the pocket of Enron CEO Ken Lay. Yet under Bush, some 47 senior and executive managers, including CEO Lay himself, were tried and convicted of fraud. What's taking Obama and Holder so long?
As long as they are in bed with our government, nothing will happen.
Quote:
Originally Posted by 2e1m5a
I can't believe people still do business with Goldman, JP Morgan, BOFA, Citi, Wells Fargo 4+ years later. It's truly maddening.
As long as they are in bed with our government, nothing will happen.
Exactly-Hell, they control our Government! JP Morgan profits from the federally funded SNAP program on every Food Stamp transaction. These International Bankers that control our monetary and financial system literally do not care about the direction of our country because they profit regardless (for now).
Quote:
Originally Posted by no1brownsfan
Seriously. I especially despise Wells Fargo.
Heh, that's who I used to have my mortgage with. Luckily, I don't have any horror stories, but I've heard plenty.
Exactly-Hell, they control our Government! JP Morgan profits from the federally funded SNAP program on every Food Stamp transaction. These International Bankers that control our monetary and financial system literally do not care about the direction of our country because they profit regardless (for now).
Heh, that's who I used to have my mortgage with. Luckily, I don't have any horror stories, but I've heard plenty.
I have my mortgage with those scumbags. Long story short, right now I'm stuck. I didn't consent to them being the servicer either. They inherited it from another institution that didn't make the bailout. One day though....
And you're right, the banksters are running things.
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