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The Great Real Estate Swindle All things related to the housing debacle including sub-prime lending practices, foreclosure fraud, MERS, REMICS and banking and political malfeasance.

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Old 02-07-2012, 07:58 AM   #1
Ought Six
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Arrow Forty States Sign On to Foreclosure ‘Robo’ Settlement

http://www.cnbc.com/id/46292003
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Old 02-08-2012, 11:25 PM   #2
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And the rest of the holdouts obediently followed.

Laws? What laws?
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Old 02-10-2012, 02:55 PM   #3
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Default Now this will stimulate ya!

So $26 billion dollar Mortgage fraud settlement, lets review shall we:

The following is a list of loan recipients that was taken directly from page 131 of the GAO audit report….

Citigroup (NYSE:C) – $2.513 trillion
Morgan Stanley (NYSE:MS) - $2.041 trillion
Merrill Lynch - $1.949 trillion
Bank of America (NYSE:BAC) – $1.344 trillion
Barclays PLC (NYSE:BCS) – $868 billion
Bear Sterns – $853 billion
Goldman Sachs (NYSE:GS) – $814 billion
Royal Bank of Scotland (NYSE:RBS) – $541 billion
JP Morgan Chase (NYSE:JPM) – $391 billion
Deutsche Bank (NYSEB) - $354 billion
UBS (NYSE:UBS) – $287 billion
Credit Suisse (NYSE:CS) – $262 billion
Lehman Brothers – $183 billion
Bank of Scotland – $181 billion
BNP Paribas – $175 billion
Wells Fargo (NYSE:WFC) – $159 billion
Dexia – $159 billion
Wachovia – $142 billion
Dresdner Bank – $135 billion
Societe Generale – $124 billion
“All Other Borrowers” – $2.639 trillion

http://www.scribd.com/doc/60553686/G...n#outer_page_1

by Federalreservenote @ marketwatch
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Old 02-10-2012, 02:57 PM   #4
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The settlement is more trivial than a "slap on the wrist." More like a mite-bite on an elephants ass..,
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Old 02-10-2012, 05:59 PM   #5
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Quote:
Originally Posted by Auburn Boy View Post
The settlement is more trivial than a "slap on the wrist." More like a mite-bite on an elephants ass..,
How about a kick to the nuts of the taxpayer who were idiots and obeyed the laws and followed the rules?
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Old 02-10-2012, 07:26 PM   #6
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Originally Posted by leistb View Post
How about a kick to the nuts of the taxpayer who were idiots and obeyed the laws and followed the rules?
+1
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Old 02-10-2012, 07:42 PM   #7
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Quote:
Originally Posted by leistb View Post
How about a kick to the nuts of the taxpayer who were idiots and obeyed the laws and followed the rules?
I agree. We might've waited for a higher offer on our house if we'd known that the banks were going to simply let everyone refi at lower rates regardless of equity. This is complete BS, and makes persons like my wife and I, who followed the rules and did the "right" thing, feel like jackasses. Huge kick in the scrotum indeed.
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