Elijah Cummings Asks Darrell Issa Why It Is Taking So Long To Subpoena The Big Banks On Fraudclosure

Tyler Durden's picture

Describing new evidence of illegal foreclosures, inflated fees, and other widespread abuses, Ranking Member Elijah E. Cummings wrote to Chairman Darrell Issa today to request that the Committee issue subpoenas to require mortgage servicing companies to produce previously-requested documents. “You have not hesitated—in other investigations—to issue subpoenas in a matter of days when your deadlines were missed, so it is unclear why a different standard applies to this investigation,” Cummings wrote.  “This same sense of urgency should apply even when the targets of the Committee’s investigation are banks.” On February 10, 2011, the Committee voted unanimously to investigate “the foreclosure crisis including wrongful foreclosures and other abuses by mortgage servicing companies.” “If mortgage servicing companies are allowed to disregard requests for documents that are integral to this investigation, the Committee’s integrity will be called into question and, more importantly, abuses may continue,” Cummings wrote. Today’s letter from Cummings marks the fourth in a series of letters he has sent to Issa over the past six months urging the Committee to take action on wrongful foreclosures and other egregious abuses by mortgage servicing companies. On May 24, Cummings sent a letter to Issa requesting that the Committee issue subpoenas to six mortgage servicing companies that have refused to provide documents relating to foreclosure abuses. “The best long-term solution that our Committee can offer in response to illegal acts committed by mortgage servicing companies is vigorous investigation, oversight, and reform,” Cummings added.  “Inaction will tacitly reward abuse and signal tolerance for major corporate wrongdoing.” So... what's wrong with that exactly?

Below is the letter.

June 21, 2010

The Honorable Darrell E. Issa
Chairman
Committee on Oversight and Government Reform
U.S. House of Representatives
Washington, DC 20515

Dear Mr. Chairman:

Today marks the six-month anniversary of my first letter to you requesting that the Committee investigate widespread and systemic abuses by mortgage servicing companies, including illegal foreclosures, inflated fees, and fraud against American homeowners.  This is now my fourth letter to you on this subject.[1]

In my previous letter on May 24, 2011, I requested that you issue subpoenas to six mortgage servicing companies that are refusing to provide relevant documents to the Committee.  My previous letters set forth in great detail the specific allegations of abuse committed by mortgage servicing companies and the specific steps I have taken to obtain the information voluntarily.  I have also provided you with copies of the written correspondence from the mortgage servicing companies stating in clear terms that they will not provide the necessary information unless duly authorized subpoenas are issued. 

Given this background, I was surprised when your spokesman stated that, although this is “an issue of clear bipartisan concern,” you needed “additional information” to decide on “the most appropriate next step.”[2]  You have been copied on every letter sent to the mortgage servicing companies and every letter they have sent back to the Committee.  You have not hesitated—in other investigations—to issue subpoenas in a matter of days when your deadlines were missed, so it is unclear why a different standard applies to this investigation.

As you know, Members of our Committee voted unanimously on February 10, 2011, to adopt the Committee’s oversight plan for this Congress pursuant to House Rule X, Clause 2(d).  The oversight plan states explicitly that the Committee will “examine the foreclosure crisis including wrongful foreclosures and other abuses by mortgage servicing companies.”[3]  If mortgage servicing companies are allowed to disregard requests for documents that are integral to this investigation, the Committee’s integrity will be called into question and, more importantly, abuses may continue.

Last week, in the context of a different investigation, you made a strong statement about the need for prompt action by the Committee.  You stated:  “[O]versight delayed is often oversight denied.  I believe that path would be unacceptable to the American public.”[4]

This same sense of urgency should apply even when the targets of the Committee’s investigation are banks.  The foreclosure crisis is affecting millions of Americans across the country, devastating communities, and impairing our nation’s economic recovery.  I am also particularly alarmed by increasing reports that U.S. servicemembers and their families have been illegally evicted from their homes and charged millions of dollars in unwarranted fees.[5]  For all of these reasons, I am writing again to reiterate my request for subpoenas and to provide additional information that has come to light since my last letter to you on this subject.[6]

 
New Data from SIGTARP

During our Committee’s first hearing on January 26, 2011, Neil Barofsky, the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), testified that the performance of mortgage servicing companies has been “abysmal” and that “stories of servicer negligence and misconduct are legion.”[7]

On February 25, 2011, I wrote to SIGTARP to request “a survey of the various complaints SIGTARP has received or is aware of relating to mortgage servicers” and “a categorization of the specific allegations of wrongdoing.”[8]  On May 31, 2011, SIGTARP officials responded by providing a breakdown of approximately 2,683 complaints they had received relating to the performance of mortgage servicing companies.[9]

According to SIGTARP, more than 27 percent of these complaints reported that mortgage servicing companies improperly foreclosed on homeowners who were enrolled in government modification programs.  According to SIGTARP, these homeowners reported that “they were victims of premature default or foreclosure proceedings.”[10]

In addition, more than 14 percent of these complaints reported that mortgage servicing companies improperly reported homeowners to credit bureaus, despite the fact that they were enrolled in government modification programs, “with the effect that their credit score decreased and their ability to secure credit was reduced.”[11]

SIGTARP officials also reported that more than 46 percent of these complaints reported that mortgage servicing companies lost or misplaced homeowner documents, “resulting in multiple documentation submissions or rejection or disqualification” from government programs intended to help families modify their mortgage loans to avoid foreclosures.[12]

Based on its review of these complaints, SIGTARP officials also reported that, “[t]o the extent that the complaints raise issues within SIGTARP’s jurisdiction, we have pursued criminal or civil investigations.”[13]

Regulators’ Findings of Improper Foreclosures and Other Abuses

On May 31, 2011, I wrote to the Office of the Comptroller of the Currency, the Federal Reserve, the Office of Thrift Supervision, and the Federal Deposit Insurance Corporation to request additional information on their recent “interagency reviews” of widespread foreclosure abuses by 14 mortgage servicing companies.[14]  Their public summary of these reviews, which was issued on April 13, 2011, made this finding:
 
[T]he weaknesses at each servicer, individually or collectively, resulted in unsafe and unsound practices and violations of applicable federal and state law and requirements.  The results elevated the agencies’ concern that widespread risks may be presented—to consumers, communities, various market participants, and the overall mortgage market. The servicers included in this review represent more than two-thirds of the servicing market.  Thus, the agencies consider problems cited within this report to have widespread consequences for the national housing market and borrowers.[15]

The summary also identified specific cases of improper foreclosures that violated federal law.  It stated:

 
[E]xaminers did note cases in which foreclosures should not have proceeded due to an intervening event or condition, such as the borrower (a) was covered by the Servicemembers Civil Relief Act, (b) filed for bankruptcy shortly before the foreclosure action, or (c) qualified for or was paying in accordance with a trial modification.[16]

To address these major systemic deficiencies, the regulating agencies issued “consent orders” that required these 14 mortgage servicing companies to hire private consultants to conduct a more thorough review of the files of affected homeowners.  More comprehensive reviews were necessary because the regulatory reviews covered a “relatively small number of files.”[17]  The regulating agencies directed the mortgage servicing companies to “determine any financial injury to borrowers caused by errors, misrepresentations, or other deficiencies identified in the review, and to remediate, as appropriate, those deficiencies.”[18]  They also directed the mortgage servicing companies to submit for their approval “engagement letters” establishing the terms of the review and the methodologies to be used.[19]  These engagement letters were due within 45 days of the date of the consent orders.[20]

Despite this deadline, none of the 14 mortgage servicing companies met this requirement.  On June 10, 2011, the Comptroller of the Currency and the Office of Thrift Supervision wrote to me to confirm that “final engagement letters do not exist.”[21]  On June 13, 2011, the Office of the Comptroller of the Currency announced that it was extending the deadline for mortgage servicing companies to comply with this requirement.[22]

 
Additional Information

In addition to the information above, there have been other troubling developments.  On June 13, 2011, for example, it was reported that the Office of Inspector General for the Department of Housing and Urban Development filed a sworn declaration stating that its review of foreclosures was “significantly hindered by Bank of America’s reluctance to allow us to interview employees or provide data and information in a timely manner.” [23]

A week earlier, on June 9, 2011, the Department of the Treasury for the first time withheld servicer incentive payments from Bank of America, Wells Fargo, and J.P. Morgan Chase for errors in calculating borrower income—a key determinant of eligibility under the Making Home Affordable program.[24]

On May 26, 2011, the Government Accountability Office issued a survey of problems reported by housing counselors who work for a network of approximately 130 non-profit housing agencies that receive funding through the National Foreclosure Mitigation Counseling Program.[25]  GAO reported that “over 78 percent of the counselors ranked ‘servicer lost the borrower’s documentation’ as one of the three highest challenges,” and that 53 percent of counselors accused mortgage servicing companies of “[s]traightforward miscalculations of annual income (e.g., confusing biweekly, semi-monthly, and weekly pay).”[26]

Conclusion

Like my home state of Maryland, your home state of California also appears to have been severely affected by the foreclosure crisis.  By the end of 2010, California ranked fourth in the number of mortgages that were 90 or more days delinquent or already in foreclosure.[27]  A survey of California housing counselors conducted by the California Reinvestment Coalition (CRC) in 2010 found that more than 60 percent of counselors “had clients who suffered foreclosure while negotiating with their loan servicer,” and nearly 80 percent reported that it is “very common for servicers to deny loan modifications because they claim not to have received all borrower documents.”[28]

In February, you were asked by San Diego Union-Tribune how you planned to address the foreclosure crisis in San Diego County.  In response, you said that the “best, long-term solution for relief of struggling homeowners is to find more and better jobs.”[29]

We fully support measures to promote job creation, but we cannot ignore illegal and abusive acts by mortgage servicing companies—which are precisely the subject of my request for subpoenas.  The best long-term solution that our Committee can offer in response to illegal acts committed by mortgage servicing companies is vigorous investigation, oversight, and reform.  Inaction will tacitly reward abuse and signal tolerance for major corporate wrongdoing.

To fulfill the Committee’s unanimously-approved oversight agenda, and to adequately investigate abuses against our constituents, we must obtain responsive documents from these mortgage servicing companies.  For these reasons, I request again that you authorize and issue subpoenas to compel the production of the previously-requested documents.  I appreciate your interest in these issues and look forward to working with you.

                                                            Sincerely,

           
                                                                        Elijah E. Cummings
                                                                        Ranking Member

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Trifecta Man's picture

Dylan Ratigan reported that 40% of campaign contributions have come from bankers.

I am Jobe's picture

Yeap, all bought and paid for. Go vote and be heard they say while the bankers own the USA and the Politicians.

alien-IQ's picture

Voting is hamster wheel.

I am Jobe's picture

Imagine a campaign 365 days a year for 4 years and how would that be. As is they are already started 2 years ahead. Knowing well the Bankers have already bought the Politicians what difference does it make anymore?

eureka's picture

... and knowing Issa Is A Millionaire X 80 -what difference does it make...?

Well, to begin with, we can vote with our money - like Max Keiser's advices: 

Crash JPM - Buy Silver, don't use big banks, don't buy goods from large corporations, don't support US empire in any way whatsoever - and educate fundamentalists, neocons and nationalist and consumers all around us non-stop to do likewise.

Like rings in water our efforts will pay off; the empire will wither.

scaleindependent's picture

They are waiting for the statute of limitations to run out on fraud.

They only have 1-2 years to wait. THEN, they will let the whole thing crash.

msamour's picture

There is no statute of limitation on Guillotines, boiled ropes, tar and feathers.

msamour's picture

Double post (for some odd reason website crashed).

Spirit Of Truth's picture

 Amsel (Amschel) Bauer Mayer Rothschild, 1838: "Let me issue and control a Nation's money and I care not who makes its laws"


TruthInSunshine's picture

And boy, was he spot on, or what?

Say what you/I/we will about him and his litter, but that idea of controlling a nation's money supply and the other one about loaning money to governments (essentially securitizing her people as guarantee for repayment)...

...strokes of genius.

They both led to incredibly wicked events, where a handful of people profited mightily off of incredible human suffering...

...so I should have said strokes of evil genius.

Yes_Questions's picture

And boy, was he spot on, or what?

Indeed: they figured out how to grow a money tree and feed it terminally with the blood of Labor.

Freddie's picture

Odd that none of you remember Obama's CRA lawsuits with ACORN back in Chicago to force banks to lend to people who could never repay the mtg.  Or the Dems, particularly the congressional black caucas with Barney Frank, blocking ANY oversight of Fanny and Freddie circa 2006-2007.  Fanny & Freddie giving out mtgs to anyone.  Both organizations are run like the post office with govt employees who are useless.

TruthInSunshine's picture

Oh, you are correct.

Each of our political parties in this republic, operating in what's allegedly supposed to be something of a democracy under what's supposed to be a constitutional framework, are equally worthless - strike that - equally harmful.

Maybe that's because both of our parties/choices/poisons that are called political parties work for the exact same people, with those people definitely not being voters or constituents, and maybe it's because deep capture has turned them into rhetoric spewing dime store whores, available for a toss in the sack and good screwing of the citizens they allegedly represent, for the right bid.

And of course, much of this has to do with the fact that our incredibly honest Supreme Court, in the depths of its infinite and just wisdom, has declared that corporate-oligarch campaign cash enjoys equal footing as does "free speech" under the 1st Amendment to our Constitution -  brilliant!  /sarc/

ibjamming's picture

The SCOTUS is hand picked by the bought and paid for politicians...how else are they going to vote? 

It's like the wolves hand choosing the shepard/sheep dog team.

The basketball players hiring the referee.

TheMerryPrankster's picture

Without the post office I couldn't get silver delivered from Ebay.

The post office actually does accomplish what it was entrusted to do when it was established. You'd be better off comparing Fanny Mae and Freddy Mac to mustant zombie step children of a bastard marriage between the banks and the government.

 

Dugald's picture

As an outside regular user of USPS, I think they do an outstanding job, considering they are operating in a country that is morally and financially bankrupt.

HungrySeagull's picture

The mail will get through one way or another. Have done since Pony Express.

 

That silver arrives registered mail. That is why they do such a good job. No "Mice" allowed digging in the pallets behind the dock.

Dental Floss Tycoon's picture

 

"Without the post office I couldn't get silver delivered from Ebay."

Actually even that is becomming problematic.  My daughters last silver purchase from Ebay was neatly slit open and the silver gone.  The package was contained in plastic bag with some gibberish about it being caught in the processing equipment.


eureka's picture

Dear Freddie, RE"force banks to lend to people who could never repay the mtg.  Or the Dems, particularly the congressional black caucas with Barney Frank, blocking ANY oversight of Fanny and Freddie circa 2006-2007.  Fanny & Freddie giving out mtgs to anyone."

Correct you are, however, keep in mind that the "force" you you refer to, is ordered by the elite, not for the sake of the loan recipients, but for the sake of blowing financial bubbles through the banking system, in order to sustain US empire, which the elite built and treassures as it supreme instrument of globalization; without US military might there would be no USD reserve currency and thus no US empire - which, like all empires, need bubbles, because they don't produce but only extract wealth and blow bubbles.

Cheap "liar loans" is a soundbyte designed to encriminate borrowers, but ask yourself "who has more power, borrower or lender?" The answer is not blowing in the wind, it is self evident.

And so, borrowers and their character, are not in any way EVER the relevant issue - rather the diligence or lack thereof - and the motivations - of the lender are PARAMOUNT to determining the moral standing of the contract.

The Tech Bubble and the Housing Bubble both burst - NEXT our current bond and stock bubbles will burst. The prefixes are incidental, the common denominators are crucial.

Remember: empires blow bubbles through banks/leveraged fantasy assets.

Blame empire - the common denominator of rot - not, borrowers, prefixes, incidentals.

See cause and effect clearly. See where power flows from - THAT is the source of all rot.

For the Buck Stops At The Top - Not The Bottom.

sunnydays's picture

You said it correctly.  the banks actually run the U.S.  just like the AG investigation, it went no where.  the only thing that was coming out of it was the fact the banks were creating the settlement they wanted with the states.  Even though laws were blatantly ignored, not one single prosecution has happened against a banker.  Look how the big ones have constantly done illegal trades and so on.  Those are always glazed over, but if you or I even did one 1/100th of what the banks have done against the people, we would be thrown in jail.

 

 

Dental Floss Tycoon's picture

 

Governments and the power elite have a monopoly on crime and violence.  They prosecute anyone encroaching on their territory.


TheMerryPrankster's picture

The federal agency overseeing Fannie Mae and Freddie Mac, the taxpayer-owned mortgage finance giants, failed to refer to criminal investigators and other authorities almost 100 complaints about possible foreclosure abuse and mortgage fraud at the companies over a recent two-year period, according to a report issued late Tuesday by the inspector general of the Federal Housing Finance Agency.

http://www.nytimes.com/2011/06/22/business/22housing.html

Oversight Group Did Not Refer Housing Complaints By Published: June 21, 2011

While the report did not determine whether these and other complaints had merit, it said that the agency’s unresponsiveness to them was problematic.

“Failure to recognize and quickly provide law enforcement authorities with information about allegations of fraud and other potential criminal conduct presents a significant risk for the agency,” the report said.

The inspector general’s report is the third to assess the agency that acts as conservator for Fannie and Freddie, which have cost the taxpayer roughly $154 billion since they nearly collapsed in September 2008.

The assessment covers the agency’s responses to complaints raised by consumers as well as current and former employees of Fannie and Freddie. It covers a period from July 30, 2008, when the finance agency was created, to Oct. 31, 2010, when the inspector general began its operations.

“Millions of Americans have been touched by the housing crisis,” Steve A. Linick, the inspector general, said in a statement. “Increasingly, they have filed complaints about fraud, waste or abuse, including allegations of improper foreclosures and possible criminal activity. Those complaints deserve timely and responsible action by F.H.F.A.”

Meg Burns, senior associate director in the office of Congressional Affairs and Communications, said that the agency had a limited mandate to deal with consumer issues but that it agreed with the recommendations and would follow them.

Landotfree's picture

Nothing is going to happen to the bankers, why?  Because if we stopped the fraud of the system, there would be no system.  The system will collapse, then everyone will build the new system just like the old system.

tarsubil's picture

That leaves a mob funded dem from Baltimore as our only hope? I like our chances!

gwar5's picture

Banks are the only ones left with any money. Financial services now make up almost 30 % of the entire economy.  Obama's biggest contributors 2008 were GS, JPM, and Citi; 2nd only to the UC system employees looking for a CA bailout.  

I am Jobe's picture

Why ask such questions? Darrlyl Isa stands to benefit from the Big Banks. All bought and paid for.

Perseid.Rocks's picture

Not only that but he stands to be quickly assassinated if he goes up against his financial masters. Such are the wages of allowing a small group of financial superiors to infiltrate and completely control our government. These politicians know who the masters are, and they know the wages for disrespecting them.

Logically we know that a sovereign government doesn't need to borrow money from anybody to issue currency, but try to change the system now and you will quickly find your accounts drained and your home in accelerated foreclosure with the locks already changed.

Josh Randall's picture

Issa the wealthiest man in the US House I believe, he is on the take like 90% of the rest of them - piss on him and his Tough Guy rhetoric 

alien-IQ's picture

Welcome to another episode of "Who's Your Daddy?"...where banks get to show America, in no uncertain terms, who really runs this country and who the laws really do and do not apply to.

Get the laugh track ready...this one promises to be a screamer.

theopco's picture

Who knew that E.E. Cummings could write?

TheMerryPrankster's picture

nobody loses all the time

i had an uncle named Sol

who was a born failure and nearly everybody said he should have gone into vaudeville perhaps because my Uncle Sol

could sing McCann He Was A Diver on Xmas Eve like Hell Itself which may or may not account for the fact that

my Uncle Sol indulged in that possibly most inexcusable of all to use a highfalootin phrase luxuries that is or to wit farming

and be it needlessly added my Uncle Sol's farm failed because the chickens ate the vegetables

so my Uncle Sol had a chicken farm till the skunks ate the chickens

when my Uncle Sol had a skunk farm but the skunks caught cold and died

so my Uncle Sol imitated the skunks in a subtle manner or by drowning himself in the watertank

but somebody who'd given my Unde Sol a Victor Victrola and records while he lived presented to him upon the auspicious occasion of his decease a scrumptious not to mention splendiferous funeral with tall boys in black gloves and flowers and everything and

i remember we all cried like the Missouri when my Uncle Sol's coffin lurched because somebody pressed a button

(and down went my Uncle Sol and started a worm farm)

 

e.e. cummings - nobody loses all the time

http://www.americanpoems.com/poets/eecummings/314

scatterbrains's picture

At first I thought this Cummings letter was just to turn the screws on the masters to get them to scold Issa and crew for going after Eric place holder for the gun running operation down in Mexico but if this is Cumming's 4th letter then it sounds as though he is trying to shine some light on these crooks.

Temporalist's picture

Like Nouriel Roubini said, the reason why they aren't investigated and prosecuted is because then you'll find the culprits.

 

Bay of Pigs's picture

Exactly why Issa stalls and stonewalls any real investigation. It would lead right to his wealthy banker donors feet.

What a useless prick he is. 

scaleindependent's picture

They are waiting for the statute of limitations to run out on fraud.

They only have 1-2 years to wait. THEN, they will let the whole thing crash.

scaleindependent's picture

They are waiting for the statute of limitations to run out on fraud.

They only have 1-2 years to wait. THEN, they will let the whole thing crash.

G-R-U-N-T's picture

"Elijah Cummings Asks Darrell Issa Why It Is Taking So Long To Subpoena The Big Banks On Fraudclosure"

 

http://www.youtube.com/watch?v=QnDn_iMdVGo&NR=1

 

The usual half measures residue from our elected political pussies. Always seem to start out strong but in the end fail to achieve what is right and just.

 

Fred Hayek's picture

Isn't it amazing how congressmen who are utterly useless rump swabs for power when they're in the majority suddenly discover some value in truth when they're voted into the minority? And how the opposite also holds true?

Lord Acton was soooooo right about power.

user2011's picture

I can see there is a red laser dot on Elijah's forehead.   How dare anyone dare to bring our bankers to justice. 

tarsubil's picture

Right. This is what the bankers probably like to call a "controlled burn."

TruthInSunshine's picture

I just want to say these are my waters that I swim in, and that, yes, I really am tied in with what's happening, and without getting into elaborate detail, the shit is going to hit the fan on the whole MERS fraud (it is and always was a legal fraud and artifice, built to circumvent strict liability recording statutes and title laws of the individual states).

There have been a lot of legal rulings as of late very adverse to MERS and any legal action to pursue or even maintain standing in foreclosure proceedings where a MERS assignment (at any point) has infected the chain of title.

This will be a crisis that takes a decade or more to resolve, and will cost many entities purporting to hold title to real properties (think the big banks still claiming they hold title), as well as GSEs (think Freddie & Fannie) and the Federal Reserve & FDIC, hundreds of billions, if not trillions, of dollars.

On top of that, the put backs from investors are going to be staggering.

There's going to be some sort of grand scale governmental intervention soon, which will only complicate matters, as we have a very conservative SCOTUS on issues of states' rights (which title and property law revolve around), and the federal government will struggle to cobble a solution together that will alleviate or 'fix' what's already been broken, without running afoul of the SCOTUS.

It's going to be epic.

On an unrelated note:

PIMCO Head Predicts Greece, Others Will Default

 

 

Boxed Merlot's picture

..the whole MERS fraud (it is and always was a legal fraud and artifice,...)

 

The term used in the NY ruling recently is "Bifurcation".  Any institution guilty of bifurcation has essentially killed the deal at that point in time.  All agreements are to be considered invalid from then and to be unwound in favor of the victim(s) of the institution's criminal conduct.

 

Any servicing of a bifurcated mortgage has essentially been a voluntary act on the part of the payee and by all rights should be refunded or applied as principle only at the choice of the payee, due to the note being no longer available for possession even if / when the promissory note is serviced in full.

 

If a physical deed of trust is seperated, it cannot stand on it's own and must then revert back to the issuing agent, i.e. local jurisdiction that collects tax revenue for it.  Assignment can then be made as a legal proceedure taking into account the victim / aggreived party that suffered loss as a result of the institution having bifurcated the mortgage in the first place. 

 

Legal wrangling will undoubtedly occur, but unwinding the deal to the point of bifurcation is the key, and not when payments stopped being paid.  imho.

SilverIsKing's picture

"This will be a crisis that takes a decade or more to resolve..." Should I pencil in 2060-2070 as this decade you refer to?

Yes_Questions's picture

I really am tied in with what's happening, and without getting into elaborate detail, the shit is going to hit the fan on the whole MERS fraud

Like a monkey ready to throw poo, I was poised to shout GOOD!!!

But, your post makes me want to hide instead.

Or hand over $700bil.

scaleindependent's picture

 

 

You are right, but THAT decade you speak of will occur well after any statute of limitations on fraud and theft have run out. Then, and only after they have pillaged the WORLD will they allow it to crash.