Bank Of America To Pay $930,000 Restitution To Whistleblower Who Was Fired For Reporting Fraud At Countrywide

Tyler Durden's picture




 
0
Your rating: None
 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 09/14/2011 - 15:29 | 1669913 Gubbmint Cheese
Gubbmint Cheese's picture

amount of restitution lower than expected.. this is bullish for the US stock market.

 

Wed, 09/14/2011 - 15:30 | 1669922 A.W.E.S.O.M.-O 4000
A.W.E.S.O.M.-O 4000's picture

Nobody likes a snitch. Especially a well compensated one.

Wed, 09/14/2011 - 15:35 | 1669945 nope-1004
nope-1004's picture

Banks used to be a place that housed money, PM's, and wealth.

Now they house lies, deceit, two sets of books, and satanic policy objectives.  Rape the public at any and all cost.  Nice gig.  Quite the transformation.  Why we even allow them to stay open, let alone dominate gov't policy, makes me wonder.

 

Wed, 09/14/2011 - 16:12 | 1670147 LeBalance
LeBalance's picture

You'll have to fill me in on when Banks were the former.

Wed, 09/14/2011 - 16:33 | 1670213 Fish Gone Bad
Fish Gone Bad's picture

Fuck Bank of America. 

Wed, 09/14/2011 - 16:55 | 1670298 Buckaroo Banzai
Buckaroo Banzai's picture

"CountrySlide Mortgage. You will never find a more wretched hive of scum and villainy. We must be cautious."

Thu, 09/15/2011 - 00:54 | 1671990 FEDbuster
FEDbuster's picture

I am starting to believe that Countrywide was a mafia run operation, or they at least had their hands in it.  There is a whole website devoted to exposing this and other crimes and financial terrorism:

http://www.deepcapture.com/

Wed, 09/14/2011 - 18:54 | 1670820 Silver Pullet
Silver Pullet's picture

You can catch some old Bonanza episodes...

Wed, 09/14/2011 - 19:46 | 1671066 Freewheelin Franklin
Freewheelin Franklin's picture

Banks used to be a place that housed money, PM's, and wealth.

 

Banks used to be a tool for business. Now, business is a tool for banks.

Wed, 09/14/2011 - 16:47 | 1670266 fyrebird
fyrebird's picture

Angelo? Is that you?

Wed, 09/14/2011 - 15:31 | 1669927 SilverTree
SilverTree's picture

Thats 516.6 oz's of GOLD...BITCHES

Wed, 09/14/2011 - 15:37 | 1669961 Mad Max
Mad Max's picture

It's more like 1100 ounces if valued at the time he was fired rather than today.

Wed, 09/14/2011 - 15:34 | 1669936 Al Huxley
Al Huxley's picture

S&P trading above 1200 - also bullish for the market. CNBC anchors must be creaming themselves on air at this. Meanwhile, Cramericans who followed advice to go to cash or short on Monday at S&P 1140 scratch their heads at the 60 point hole they now find themselves in.

Wed, 09/14/2011 - 15:36 | 1669952 TruthInSunshine
TruthInSunshine's picture

Hi Robo. The name may change, but your words will always stamp you.

Wed, 09/14/2011 - 16:22 | 1670181 Lord Welligton
Wed, 09/14/2011 - 15:30 | 1669921 DonutBoy
DonutBoy's picture

This is why Warren is such a big fan, an honest shop with a strong balance sheet.

Wed, 09/14/2011 - 15:32 | 1669929 X.inf.capt
X.inf.capt's picture

LOL

Wed, 09/14/2011 - 15:34 | 1669939 EscapeKey
EscapeKey's picture

I hope he'll get to enjoy it sometime before 2018.

Wed, 09/14/2011 - 15:34 | 1669941 monopoly
monopoly's picture

What planet is this. I forgot.

Wed, 09/14/2011 - 15:39 | 1669969 slyhill
slyhill's picture

Hellonearth. Third rock from sun. Greed is love. Money, the master.

Wed, 09/14/2011 - 15:35 | 1669946 Black Forest
Black Forest's picture

Sounds sensible.

Wed, 09/14/2011 - 15:35 | 1669947 1000yrdstare
1000yrdstare's picture

I'm with Bank of America, we'll take care of you.....

Wed, 09/14/2011 - 15:36 | 1669953 Sudden Debt
Sudden Debt's picture

MY BOSS HAS A AFFAIR AND ALMOST ALWAYS COMES IN LATE!!!

NOW WHERE'S MY MONEY BITCHEZ!!!

 

He's also a full blown retard, but I don't think that's a secret....

 

Wed, 09/14/2011 - 15:36 | 1669954 sunnydays
sunnydays's picture

For once they are having to pay for the truth being revealed as they tried to stop it.

 

Let's calculate - I wonder how many trillions they would have to pay for all the lies they have told, instead of the truth?

 

Everything about that bank is lies.

Wed, 09/14/2011 - 16:12 | 1670148 topcallingtroll
topcallingtroll's picture

that calculation is exactly why they will continue to punish and threaten whistle blowing.  It is better to take a small chance on a relatively small settlement or fine than it would be to let all the secrets out.  The die is cast.  They are in survival mode and merely calculating the least amount of loss.

Wed, 09/14/2011 - 15:37 | 1669958 JohnG
JohnG's picture

Heheh, thanks Tyler. :)

Wed, 09/14/2011 - 15:37 | 1669962 monopoly
monopoly's picture

MarketWatch

Meltdown fears emerge in Canada

 

This should be good for another 25 spoos points.

Wed, 09/14/2011 - 15:38 | 1669965 hunglow
hunglow's picture

"drip"   a small drop of blood  on the test strip is all it takes with a pitchfork.

Wed, 09/14/2011 - 15:39 | 1669967 Catch-22
Catch-22's picture

Hmmm... what just happened?

Wed, 09/14/2011 - 15:38 | 1669971 Gubbmint Cheese
Gubbmint Cheese's picture

Bloomberg: BAC Whistleblower to use $933k restitution towards Greek bond purchases.

Wed, 09/14/2011 - 15:39 | 1669973 Bagbalm
Bagbalm's picture

Whistleblower special - sale on hot tubs.

Wed, 09/14/2011 - 15:40 | 1669979 Dr. Engali
Dr. Engali's picture

Stupid ass record number of shorts are getting their asses handed to them again today.

Wed, 09/14/2011 - 15:41 | 1669980 monopoly
monopoly's picture

How can investors be so stupid as to buy these rumors. I mean I am not smart enough to work at the AAPL genius bar, but I do have a brain and can usually reason from time to time.

Gonna be up 300 soon. lol

Wed, 09/14/2011 - 15:41 | 1669984 1000yrdstare
1000yrdstare's picture

270 and up....unreal....simply unreal..

Wed, 09/14/2011 - 15:42 | 1669990 hunglow
hunglow's picture

22,142 one troy oz Ag rounds

Wed, 09/14/2011 - 15:42 | 1669991 monopoly
monopoly's picture

no shorts....ahem.

Wed, 09/14/2011 - 16:51 | 1670281 Bagbalm
Bagbalm's picture

Commando

Wed, 09/14/2011 - 15:58 | 1670002 Catch-22
Catch-22's picture

... is it one of those deals like the lottery? $6,642.85 a year, for the next 140 years ... before taxes.

Wed, 09/14/2011 - 15:48 | 1670027 orangedrinkandchips
orangedrinkandchips's picture

no! No Way! I am SHOCKED...SHOCKED I TELL YA.....HARD TO BELIEVE...

Wed, 09/14/2011 - 15:54 | 1670059 chunga
chunga's picture

US Department of Housing and Urban Development (HUD) Evicts 101 Year Old Texana Hollis from Home of 58 Years

Isn't this sweet...I'm so proud of these hard workers at HUD I have a lump in my throat. This is the kind of thing that will get that old economy moving again.

Wed, 09/14/2011 - 16:52 | 1670285 LFMayor
LFMayor's picture

What?  Barack didn't pay her bills?

Thu, 09/15/2011 - 12:35 | 1673752 chunga
chunga's picture

No. Corporate welfare comes first. Actually HUD just back-pedaled and decided not to kick her out. Probably figured by the time they forged all of her docs she'd be dead anyway.

Wed, 09/14/2011 - 16:03 | 1670103 Joe Davola
Joe Davola's picture

Laws really only deter honest people.

Wed, 09/14/2011 - 16:07 | 1670127 topcallingtroll
topcallingtroll's picture

frequent public prosecutions are the only things that deter the dishonest.

Wed, 09/14/2011 - 16:52 | 1670287 fyrebird
fyrebird's picture

I don't know about that one. From observations I don't think anything deters them. You can lock them up after you've caught them, but that's not detering them it's taking them out of circulation. Many (most?) when released from custody go right back to doing what they did before, if not worse.

Most criminality is in the blood, and there it remains.

Wed, 09/14/2011 - 19:50 | 1671077 Freewheelin Franklin
Freewheelin Franklin's picture

Laws make otherwise normally law abiding citizens, criminals.

 

All a lock does is keep an honest man, honest.

Wed, 09/14/2011 - 16:07 | 1670122 faustian bargain
faustian bargain's picture

The employee must be reinstated? Talk about an awkward day returning to the office...

Wed, 09/14/2011 - 16:21 | 1670178 chunga
chunga's picture

Ooops. Sorry about the down arrow. Bad shot today...lol.

If he's smart he'll catch his tie in one of their big shredders and whack 'em with a worker's comp claim.

Wed, 09/14/2011 - 20:24 | 1671188 steelhead23
steelhead23's picture

Yeah, can you imagine what his duties might be?

  • make coffee
  • empty trash (after its been shredded)
  • clean toilets

I am not a vindictive guy, but were I BAC's CEO, I'd make the dude an offer - a couple of million should get him to go away forever.  I simply cannot imagine him coming back into the "team."  Also, if he even spent a minute watching porn or reading ZH, they'd fire him for cause.

Wed, 09/14/2011 - 16:07 | 1670124 topcallingtroll
topcallingtroll's picture

Never quit Tyler

The world needs you.

Prosecuting CountryWide for fraud would be like shooting fish in a barrel.  But it probably won't be done because it would undermine confidence.

 

Will they still be concerned about undermining confidence when there is no trust in the system because it didn't correct abuses?

Do TPTB not understand what happens in a credit based system when there is no trust at all in institutions and no assurance that bad behavior will be stopped?

Do NOT follow this link or you will be banned from the site!