Tag Archive | "fraud"

Operation LeakS targets BofA with email dump

OperationLeakS: Ex-Bank Of America employee can prove mortgage fraud.

“Operation LeakS: releases initial BofA emails indicating premeditated intent to deceive government and auditors.

Their website with the email is BankAmericaSuck but it been melting down under the load.

Posted in Banksters, News

Financial links 1/30

How can the architects of the crisis investigate it?

Food speculation: ‘People die from hunger while banks make a killing on food’

Bailout watchdog probes suspected tarp fraud at 64 banks

New York prosecutor Vance seeks mandatory jail terms for securities frauds

Bank Of America stops issuing notices of default in non-judicial states

Insurance companies sue Bank Of America over “massive mortgage fraud”, find 91% of securitized loans are misrepresented

Posted in Banksters, News

Dead woman’s name robosigned on thousands of affadavits

She died in 1995. Yet her signature later appeared on thousands of affidavits submitted by one of the nation’s largest debt collectors, Portfolio Recovery Associates Inc., in lawsuits filed against borrowers.

This would appear to be organized crime, pure and simple. All involved should go to prison. If we had a functioning justice system, they would already be in prison.

Posted in News

There’s a monster on the loose, it’s got our heads into a noose

So said Steppenwolf in the 60’s, in prescient lyrics.

Newshoggers reviews The Monster

Do you like a good crime novel – a corporate crime novel? If so The Monster: How a gang of predatory lenders and Wall Street bankers fleeced America – and spawned a global crisis by Michael W. Hudson is for you. Unfortunately it’s not a fictional novel but the history of the mortgage crisis that may yet bring down the US and world economy

Posted in Banksters, News

Foreclosures on people who never missed a payment

Yves Smith of Naked Capitalism. What the banks are doing is stealing property under the assumption that the government will do nothing to stop them.

Bank Of America’s Christmas present: Foreclose even though not a payment missed.

Even though BofA has sent an apology, somehow the foreclosure is still happening. Those responsible for this should be fired and then be indicted. Foreclosures like this are happening far too often for it all to be accidental.

D.A. files complaint against lawyer of family who broke back into their illegally foreclosed home

Thus, we have law enforcement defending and protecting criminal behavior regardless of the obvious and grotesque injustice. The D.A. should be fired or recalled.

Posted in News

Bloomberg sues ECB to force disclosure on Greece swaps

Bloomberg News filed a lawsuit against the European Central Bank, seeking to make it disclose documents showing how Greece used derivatives to hide its fiscal deficit and helped trigger the region’s sovereign debt crisis.

Bloomberg has been doing an exemplary job in exposing the financial fraud, corruption, evasion, and deceit. Good.

Posted in Banksters, News

SEC subpoenas Goldman, JPM, Citi, BofA, Wells on foreclosures

Too much more of this and we might have a functioning federal regulatory system. Goodness, that would be just so wrong. I’m sure Barack (“I heart banksters”) Obama and the incoming Republican committee heads in the Senate need to move quickly to end this foolishness.

Wait a minute. Now some of those damn states are suing banks and citizens are filing whistleblower complaints. This is getting out of hand. And OMG, the Madoff trustee has sued Citi and BofA.

When will this madness end? Because if it doesn’t, then people might think our finest financial institutions are just thinly disguised criminal enterprises.

Posted in Banksters, News

Insider trading probe. Methinks he doth protest too much

From the WSJ article on the huge insider trading probe. One of those being investigated emailed his clients saying:

“Today two fresh faced eager beavers from the FBI showed up unannounced (obviously) on my doorstep thoroughly convinced that my clients have been trading on copious inside information,” the email said. “(They obviously have been recording my cell phone conversations for quite some time, with what motivation I have no idea.) We obviously beg to differ, so have therefore declined the young gentleman’s gracious offer to wear a wire and therefore ensnare you in their devious web.”

Aside from his clueless arrogance (the FBI does in fact has real fangs and claws), were I a client and assuming insider trading had occurred, I would a) immediately sever all ties upon receiving the email because anyone proclaiming loudly he is not wearing a wire might well be, b) ponder deeply why the FBI thought him worthy of wearing a wire because this implies he is in deep dooky indeed, and c) destroy any paper trails, which may have been the implicit message of the letter.

One wonders if the letter could be considered obstruction of justice and at any rate, having a John Gotti moment is a seriously dumb response. (Gotti loudly and publicly thumbed his nose at the Feds for years until his third trial sent him to prison, and that’s where he died.)

Posted in Banksters, News

Foreclosure fraud rampant. Where is Rule of Law?

Fraudulent Georgia notary seal. Her term expired in 2008

Fraudulent notary seal used by foreclosure mill in Georgia. Video from WSBT who discovered the bogus seal. Via 4closurefraud

Depositions by three robo-signers in Florida showed them to be seemingly clueless about what they were doing. Yes, it’s always better to appear stupid than culpable. Ritholz has the videos of the Crystal Moore depo.

Bank of America allegedly foreclosing fraudulently in Kentucky.

Taibbi: Courts helping banks screw over homeowners.


There are rapidly emerging signs the Obama Administration and Congress may be actively, quickly and covertly working furiously on a plan to retroactively legitimize and ratify the shoddy, fraudulent and non-conforming conduct by MERS on literally millions of mortgages.

Why? To bailout the banksters again. Rule of Law apparently just applies to the little people. But how much longer will the people take this rampant corruption and fraud?

Posted in Banksters, News

Alan Greenspan now says banks were fraudulent and criminal

This is huge. Even Alan “I heart Ayn Rand” Greenspan is now saying our financial system is infested by criminals. It’s quite possible that Greenspan was such a lockstep ideologue that he actually believed the Randian gibberish he spouted. But the banksters just used it as an excuse to plunder.

Yet our federal government still sleeps, barely doing enforcement, and when they do, it’s a slap on the wrist fine. But then, Obama never met a bankster he didn’t like. After all, investment banks backed Obama early and with huge contributions.

Posted in Banksters, News


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