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SEC Expands Mortgage Foreclosure Probe
Just headlines for now, but not good for BofA: Per Reuters, the SEC has sent out a new round of subpoenas to Wall St. banks, the agency is aking harder look at securitization process; finally, the SEC is looking at role of 'master servicer' that oversees collateral in pool of loans. And here Brian Moynihan was, hoping this thing would disappear like a silent but deadly fart in the wind.
More as we get it.
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Brian is soon going to be sorry that John Thain and Hank Paulson abused Ken Lewis so bad
On his Bloomberg interview on For The Record last week. He looked fairly uncomfortable. And he talked fast.
Question what will the banks and hedgies do if the subpoenas keep coming?
that's because Margaret Brennan was showing so much cleavage.
Taleb interview coming up on bloomberg tv (12:30pm fri est)
http://www.bloomberg.com/tv/
It's like I just can't get a break!
THIS WHOLE SEC THING IS WORKING AGAINST ME!
Can't they just leave it alone? Why do they constantly need to look back into the past and digging up old corpses?!
JEEeeezz, they sound just like my EX!
Hmmmm? Why?
And once beyond those first two automatic questions, the task then is to figure out how this headline could be used to rally the Roach Motel [SPY] and keep the tax payer supported OPEN BAR for criminal syndicate Wall Street bankers rocking and rolling through the back half of the trading session as the mirror ball whizzes in circles and the VXX Creations Units Machine churns out tens of thousand of notes that previously did not exist, which are actually options on the future...of perceived risk...on which there are also options available...in the form of puts and calls. Wait. Puts and calls on futures? What? Did I just say something?
You know what...never mind...because I started out saying that the only thing left is to convert this headline into Roach Motel stimulus package.
Listen...I'm sure there are ways. I'm thinking....
"Merry Christmas...you fuckers!"
Doesn't BofA own the SEC too?
No. Jaime Dimon does.
Government sacks hungry for fresh blood and raw meat....
SBDs.....ah...have not heard that one in a while...funny shit.
SEC wants a bigger budget. Need to empty whats left of what they got last year and show they are doing something. By time January roles around...this goes away. Then its back to tranny porn as usual.
He who supplies it denies it..
Here's hoping that this SEC's probe is akin to a 17 year old wrestler's butt drag.
http://www.fresnobee.com/2010/12/05/2185736/was-clovis-wrestlers-legal-m...
Here's an idea. How about the SEC looks a little closer and says to the banks, sell all your worthless crap to... somebody. Or just take the writedowns over the course of what would have been the life of these mortgages, like 30 years. Use your profits to backstop your losses. who cares about shareholder value, anyhow? Just keep moving, shuckin' and jivin' and we won't prosecute, we'll just extend our probe into infinity... and beyond.
The Fed will keep you afloat, so just chuck all those foreclosure court documents, like you did with the notes and everybody will be happy. The clucks living in those homes will have to figure it out for themselves that they don't really own anything, but, in the meantime, they'll have plenty of dough to keep our Ponzi scheme economy going strong, and you'll make enough money to pay yourselves big, fat bonuses year after year.
Sounds like a plan...
When I saw the headline, the first thing I wondered was whether it meant the investigators would be getting larger computer monitors and more funds for porn website subscriptions. By the time this comes to pass (so to speak,) it will amount to that momentary flatulence a'blowin in the wind.
I'm assuming that an "expanding probe" is some sort of inflatable sex toy.
Fannie and Freddie taxpayer are insuring these mortgages 100%. As long as banks get away with this crime, we are in real trouble.
http://judiciary.house.gov/hearings/pdf/Fluker101215.pdf
Non-issue. The gov. and proxies will lie their way through:
http://www.xtranormal.com/watch/8119909/
Moynihan is probably just leaning back and mentally recalling which of the senators does he own that would be best suited for this task.
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