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BUSTED | Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial Federal Audits Accuse Firms Of Defrauding Taxpayers
"The
Justice Department is now contemplating whether to use the HUD audits
as a basis for civil and criminal enforcement actions, the sources said.
The False Claims Act allows the government to recover damages worth
three times the actual harm plus additional penalties."
It's about damn time!
Let's see where this takes us...
Maybe, just maybe, they actually have been doing their jobs...
Confidential Federal Audits Accuse Five Biggest Mortgage Firms Of Defrauding Taxpayers
WASHINGTON
-- A set of confidential federal audits accuse the nation’s five
largest mortgage companies of defrauding taxpayers in their handling of
foreclosures on homes purchased with government-backed loans, four
officials briefed on the findings told The Huffington Post.
The
five separate investigations were conducted by the Department of Housing
and Urban Development’s inspector general and examined Bank of America,
JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial, the sources
said.
The audits accuse the five major lenders of violating the
False Claims Act, a Civil War-era law crafted as a weapon against firms
that swindle the government. The audits were completed between February
and March, the sources said. The internal watchdog office at HUD
referred its findings to the Department of Justice, which must now
decide whether to file charges.
The federal audits mark the latest
fallout from the national foreclosure crisis that followed the end of a
long-running housing bubble. Amid reports last year that many large
lenders improperly accelerated foreclosure proceedings by failing to
amass required paperwork, the federal agencies launched their own
probes.
The resulting reports read like veritable indictments of
major lenders, the sources said. State officials are now wielding the
documents as leverage in their ongoing talks with mortgage companies
aimed at forcing the firms to agree to pay fines to resolve allegations
of routine violations in their handling of foreclosures.
Definitely check out the rest of this in depth report from the Huffington Post here...
Checkmate???
www.4closureFraud.org
»
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...so does this FINELY make my ....loooong FAZ holding..... worth its due "unobtainablevaluemonalisastyle" a share. due to the financials being grossly misrepresented for years now?....and if this HAS been KNOWN potentially for some time now...WHO KNEW AND WHEN!
I'd betcha ALOT of people in prison will love this new tidbit of info....there might just be alot of "mis-representations" caused by this. wonder how many can read this report, and feel they've been fraudulently coerssed into criminal activities, due to these "pressures" placed upon them. Or worse, blantently MISREPRESENTED w/ REVELENT EVIDENCE refused to even be entered for review by the juries/courts, perpetuated by BAR associates in their respective trials.
I'd also wonder if this was repeated in the corporate lending sector....
this info needs to be the corner stone of logic to foster in the new/old gold-standard, if not just to simply protect the independence of the Judicial Branch of the government, from the "other" branches abilities to print fiat, enabling such a total capture of the U.S.
hey Barry......didn't you publically tell us, (aswell all members of the BARassn that you were accomplice with) that we need to just "follow the constitution".....I'm still kinda curious which constitution you were referring to.
....so many millions of innocent lives have been destroyed by this...i gotta go throw up now....
Just another "investigation into fraud" ruse used to make the whole system look legit.
I fear that IF it does go somewhere we will end up with the government taking over the banks.
"The Justice Department is now contemplating whether to use the HUD audits as a basis for civil and criminal enforcement actions..."
yes they will contemplate but....yawn.....will support corporate crime wherever they find it....
Not a chance this will go anywhere. National security at it's finest.
Where's fraud-Dodd and fudgepacker-Frank?
The Complex isn't going to fine itself and disembowel it's co-conspirators. They'll find some patsy sacrificials to do some Congressional theater time, punish them publicly, and move on with the game.
Yes, we'll see the degree of fascism we currently live under based on the outcome of this investigation.
Unless the homes are given back to everyone harmed by the subprime, liar loan racket, treble damages are paid back to the treasury, and the people who ran the scams are in jail and are forvever prohibited from working in banking, we'll know the partnership of business and government is too strong to break.
If we can't have meaningful prosecutions for the biggest heist in US history, we truly are fucked.
"The False Claims Act allows the government to recover damages worth three times the actual harm plus additional penalties."
Now that is what I call REAL punishment and a big deterrent
A typical shakedown by the politicians. The banksters will donate extra this year to incumbents and all will be forgotten.
so what? nothing to see here move along. not a thing will happen. this is just a swallow headline for hope to those that have been inflicted. false flag of hope for the people of america. nothing will happen to these institutions. go live your life, expect nothing from the justice division on any level of this once great country. the american dream and home ownership is entirely overrated. be happy you got a look at the inside of how this fraud system works. run along now and don't feel sorry for yourself. appreciate that someone exposed this fraud and they certainly won't act on it in a legal way. you are a loser if you think HUD will do a damn thing.
I want Goldman sachs ans Deusche bank added to that list. Wherever there is a stink of sh1t those names crop up.
No fines just hang the bastards from the nearest available lamp post. Go nail the bitchez!
checkmate? listen, even a dope like Strauss-Khan will tell you that it's not a rape if both parties give consent. the government not only gave consent, it was the party that instigated the criminal bailouts.
to fine the banks would reverse the whole "extend and pretend." moreover, whatever banks pay as fines they wil get back from the Fed
Blow jobs and caviar,all round for the banks.
Thats the U.S Justice Depts. motto.
The shills know where their pay cheques come from.
Dem Joo bucks don't come from now where.
""The Justice Department is now contemplating whether to use the HUD audits as a basis for civil and criminal enforcement actions,"
Yeah, like the 50 states AGs "contemplated" prosecuting big banks for defrauding homeowners........then "settled" for campaign contributions.
Gotta admit, the HuffPo has some heft. Over 3000 comments on the original article.
I feel like Michael Buble, tell me
QUANDO, QUANDO, QUANDO
PROSECUTE. NOW.
....Must view both postings....
The Screwed Generation: College Grads...
http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/05/screwed-gener...
----------------
Changing Education Paradigms....
http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/01/changing-educ...
This lady is going to be bitterly disappointed by Obama.
Don't bet on any of these clowns seeing the inside of a jail cell, ever. Not unless there's a revolution, then we'll hunt them down like dogs, but they'll be long gone on their Gulfstreams anyway.
Personally I think we should launch a website where everyone with debt to these companies can sign a pledge that if none of these jerks go to prison, we'll all stop paying our mortgage/credit card/student payments. See what happens then!
"See what happens then!"
The IRS will kick in your door and the DOJ will prosecute you for financial terrorism. Fascism on full display.
Isn't it illegal in the U.S.A. to engage in business activities/transactions, with people/groups who are known to be involved in criminal activities?
the home owners should get 80 % of the money.... since they were kicked out..
LONG OVERDUE
But OH, I am so very ready.
CLAW BACK EVERY DIME!!!!!!
Do you have any idea how much triple damages would be on this MASSIVE PACK OF LIES??????
GUESS!!!!!!
http://wp.me/pwkw8-xj
Checkmate
never....
spoiled child knocks board over...
All we're doing here is substituting Bankster thugs with Government thugs. In the end, the thugs on both sides screw over the taxpayers...
Ok trend lines into Asia . I like usd/jpy
I will be the first to celebrate if and when these banksters are charged criminally. Sincerley, I do not see that happening. Certainly Mr. Obama and his team want their support for the election next year. Too bad for us.
Let's get to the truth ... I got some ideas on how to go about it right here:
http://en.wikipedia.org/wiki/List_of_methods_of_torture
That cloud is from a 4th of July snake when I was in 4th grade. First of all, these meat puppets will end up in club Fed (sponge bathed by bronze skinned women before they go to jail!) I am club (early genX) Giggles. Can I get a JPM GS FX chart? Thanks ED;
“I can't answer that question......it's under investigation.”
“That information is under seal.”
“Sorry, can't share that info......gag order.”
ya, that'll work.......
Please, 2 years ago we'd be woo doging it. But it ain't gonna happen
And they will pay their fines by diluting US taxpayer money even more with Fed loans.
Wherever these audit records are held, I'd suggest people stay away from that area. Preferably at least 30 miles away.
They are in a nice safe place in northeastern Japan............d'oh
The fine will be $5 billion with an additional amount to be determined later, later, later, later, later, or whenever hyperinflation reaches 1000% per month.
Boy there's a news flash! </sarcasm /off>
Amazing the crooks continue to hide behind fucking lawyers. hang the bitchezzz and their families. Shut down the fucking banks.
Sure. Wake me up when there is the first prosecution....
Agree. Jail the motherfuckers. And Holder? DO YOUR FUCKING JOB, YOU SLIMEBALL!
I wonder just how many think that truth and justice can prevail in a land that is now so bankrupt both moraly and financially. Miracle called for...
DSK is the only bankster visiting the can at Rikers. Obeyme needs to raise a billion bucks. Holder knows this. The banksters will be greenlighted for kicking the " right amount " into the Obama '12 campaign. All sentenced to wristslaps, 5 Our Fathers and 5 Hail Marys.
The Chicago way.
So are you suggesting that DSK didn't contribute enuff to O'b's 2012 campaign?
+200 million
bingo.
They've probably already negotiated the 'fine'.
Maybe Bill Daley can help with that............
$1,000 fine, and some community service with a "promise" to do a better job.
I'm amazed Eric Holder hasn't been fired yet. Justice Department (what an oxymoron) main priority is to protect Wall Street.
They only go after the little fish. These sharks will be left unpunished. Remember what happened to Mozzillo. Not a thing.
This "investigation" is only theatrics, dog and pony show to help the Obama re-election.
Holder fired? He's the bag man in this operation.
No problem, the banks can borrow from the gov't at 0% interest in order to pay their fines.
you're jumping the gun. i don't see anything about eric fucking bag holder actually deciding to do his job in the article. he won't.
Holder is about to have an unfortunate run-in with a hotel maid.