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Will Bailout Minimize FBI Investigation Who Might Have Sold Fraudulent Loans/Securities?
by Sue Riley
Friday, Oct. 03, 2008 at 6:15 AM
Some lenders might have lowered their “own mortgage borrowers’ home values” by continuing to make sup-prime loans to unqualified borrowers in their community—after having “knowledge” the community had high numbers of mortgage defaults and foreclosures.
U.S. Taxpayers are on the hook for $700 Billion to purchase Toxic mortgage loans and foreclosed homes from financial institutions.
U.S. Taxpayers need to ensure this Taxpayer Bailout is not used by Congress as a public-pacifier for the government not to prosecute big corporation executives and others determined by the FBI to have “knowingly” made profits from fraudulent home loans and mortgage-backed securities.
It is outrageous how may American Citizens, banks, and retirement plans have been financially destroyed because they held interests in toxic mortgage loans. Politicians should not be allowed to obstruct the FBI seizing the ill-gotten gains of corrupt executives and or associates criminally or civilly proven to have defrauded home loan borrowers and purchasers of mortgage-backed securities.
At this moment Millions of Americans continue to see the value of their homes plummet while their mortgage loans—increasingly exceed the price a buyer will pay for their property.
Property in Rep. Harry Reid’s state Nevada has been so decimated in value, homeowners with “recourse mortgages” now fear Nevada banks will attach their income and assets to recover “lender losses” not recovered by foreclosure. Harry Reid might help Nevadans by asking the State Legislature to end “recourse mortgage collections” against Nevadans who occupied their foreclosed homes.
Some lenders might have lowered their “own mortgage borrowers’ home values” by continuing to make sup-prime loans to unqualified borrowers in their community—after having “knowledge” the community had high numbers of mortgage defaults and foreclosures: “Property-damaged-homeowners” under such circumstances might have “standing” to pursue individual or class action lawsuits against their “own mortgage lenders” to recover part of their lost equity; or to stop a lender raising their (ARM) mortgage loan adjustable interest rate: Homeowners at large might have a cause of action for lost home value against lenders that—made a large percentage of sub-prime loans in their neighborhood after the lender had “actual knowledge” of the neighborhood’s existing high rate of loan defaults and foreclosures: homeowner damages might possibly include loss of property value; a homeowner can’t sell his or her house for what is owed on it; lender knew but never disclosed to borrower high number of sup-prime loans in default in neighborhood the lender was soliciting their client to mortgage property; subsequently homeowner’s credit is damaged or destroyed; lender made misrepresentations to borrower that fall “under state jurisdiction” when making mortgage loan(s) e.g. might allow mortgage borrower to apply state not federal law in an suit against lender; lender intentionally used inflated property appraisals in a neighborhood that caused subsequent home buyers to borrow more that a property was worth.
U.S. Government should aggressively investigate and prosecute mortgage lenders, stock and securities marketers, their executives, anyone who “knowingly” sold or facilitated fraudulent loans or mortgage-backed securities; sold securities they knew were backed by “INFLATED real estate appraisals or had actual knowledge a real estate loan borrower would likely default and did not disclose that fact to the purchaser of a mortgage loan.
666 THE SON OF THE DEVIL ON THE POST 9-11 BUSHENOMICS ON WALL ST.
by 666 THE SON OF SATAN
Friday, Oct. 03, 2008 at 7:21 PM
666 THE SON OF SATAN (GEORGE WARMONGER BUSH) : "Sorry to Oil the BUSH AL CIADA SHOCK AND AWE of Amerika on 9-11, the BUSH AL CIADA SHOCK AND AWE BOMBINGS OF THE WTC, the Post 9-11 BUSH SHOCK AND AWE ISLAMOPHOBIA NEWS NETWORK CNN NBC ABC CBS FOX BBC, the Post 9-11 BIG HALF OFF SALE AT UNCLE BUSH'S OPIUM FLOWER SHOP, the Post 9-11 BUSH WALL ST. LAUNDROMATS aka Laundering of BUSH AFGHAN DRUG CARTEL CASH on Wall St., the Post 9-11 BUSH SECURITIES AND FRAUD COMMISSION on Wall St., the Post 9-11 BUSH OUTSOURCING OF DOMESTIC FUNDS to Fund the BUSH OIL FOR MURDER & MAYHEM PROGRAM, the Post 9-11 BUSH OUTSOURCING OF CREDIT FUNDS to Pay the Interest on the Loans for the BUSH OIL FOR SERIAL MURDERS PROGRAM, the Post 9-11 BUSH TENT CITIES in Amerika, the Post 9-11 BUSH AUTOMOBILE RESIDENCES in Amerika, the Post 9-11 BUSH NORTHCOM Response Team to Stomp Dissent in Amerika, the Post 9-11 BUSH EXTORTION OF CONGRESSMEN & SENATORS to Pass the BUSH BAILOUTS FOR BUSH BANKSTERS BILL, the Post 9-11 BUSH NON BAILOUT FOR HOMEOWNERS in Amerika, the Post 9-11 BUSH HIGHWAY ROBBERY OF AMERIKA, the Post 9-11 BUSH GRAND LARCENCY OF US TAX DOLLARS, the Post 9-11 BUSH BAILOUTS FOR BUSH ROBBER BARONS in Amerika, the Post 9-11 BUSH TAX CUTS for BUSH ROBBER BARONS in Amerika, the Post 9-11 BUSH TAX INCREASES for the Poor and the Middle Class, and the Post 9-11 Bush Oil For Bombs, Torture, Flag Draped Coffins, Amputees, GI Suicides, Cuts in GI Healthcare, War Crimes, High Crimes, Crimes Against Humanity, Arming of IDF IAF SS Nazi / Likud Mengeles / Irgun Zvai Leumi Eichmanns in ISRAHEIL, BUSH HIGH TREASON, BUSHITE SIMIEN THUGS AKA GOOSE STEPPING BUSHITE COPS (Criminals On Patrol), BUSH NORTHCOM MARTIAL LAW TEAMS in Amerika, and BUSH GAS PRICE GOUGING at the Gas Pumps Economic Stimulus Package but Oil comes First. FILL HER UP WITH SOME "CHEAP" POST 9-11 BUSH BAILOUTS FOR FAT CATS, BUSH BAILOUTS FOR BUSH BANKSTERS, BUSH WAR CRIMES, BUSH NORTHCOM MARTIAL LAW TEAMS, AND BUSH TENT CITIES GASOLINE FROM SEA TO OILY SEA ?????????????"
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