Well well well, look at what we’ve got here…….
(Reuters) – The Justice Department is looking into reports that U.S. financial institutions improperly foreclosed on houses, Attorney General Eric Holder said on Wednesday. Several states are investigating the practices of institutions like Ally Financial Inc, formerly known as GMAC, and JPMorgan Chase and Co, among others, and those two have suspended foreclosure proceedings in many states.
The home lending unit of Ally has said that employees preparing foreclosures had submitted affidavits to judges containing information they did not personally verify, drawing outrage from homeowners, lawmakers and state prosecutors. “We are aware of the charges that have surfaced in the newspapers in the last couple of days and we’re looking at them,” Holder told reporters during a news conference on another matter.
AG Holder…. Sir…. Best get hold of Congressman Barney Frank and Senator Christopher Dodd, along with a few select other folks like ACORN execs and unfortunately you’ll need to add your boss, the POTUS in the mix. Put them all under oath. They’re the ones who caused much of the problem due to political pandering, ‘reparations’ and abject racism, plus building a voting bloc exclusively using the letter “D”.
If I were you, I’d also get in touch with as many of the homeowners foreclosed on and get them under oath as well…. Ask them one question surrounded by two statements….. “You bought a house valued at $450,000 on a thirty year mortgage and your family’s annual gross income was $31,000…… What did the loan officers say to you ?….. and remember, you’re under oath to a Federal law enforcement official.”
Oh, I know that I’m just filled with hope for change and acting stupidly. But I really do understand the way things are, Sir. Everyone knows you can’t possibly provide any of that which I just asked, as you’re part of he problem as well.
3. ……and of course, it’s all because of Teh Eeeevil Jooooooooooos !
Cheers !
Kenny Solomon
The framers of our Constitution knew that the government should never have a monopoly on force. That’s why they articulated our God given right to self defense and ensured the right to keep and bear arms was written in our Bill of Rights. Let’s not forget: George Washington didn’t use his right to free speech to defeat the British. He shot them.
Moe Lane
Dan McLaughlin
Dan Spencer
Jeff Emanuel
Neil Stevens
Wasn't Holder the one who not answer the question
izoneguy (Diary) Wednesday, October 6th at 3:04PM EDT (link)about if he thought some of the terrorism committed on America soil was due to Islamic Fundamentalists?
So what is Holder going to ask the financial institutions???
Why did you foreclose on these houses????
Answer – Because they quit paying the loan…
Holder – Oh…….
Those who had once simpered: “I don’t want to destroy the rich, I only want to seize a little of their surplus to help the poor, just a little, they’ll never miss it!” – then, later, had snapped: “The tycoons can stand being squeezed; they’ve amassed enough to last them for three generations” – then, later, had yelled: “Why should the people suffer while businessmen have reserves to last a year?” – now were screaming: “Why should we starve while some people have reserves to last a week?” – Atlas Shrugged
This Will Stop Two Things
Repair_Man_Jack (Diary) Wednesday, October 6th at 3:09PM EDT (link)1) Mortgage Foreclosures.
2) The availability of any credit for the purchase of a home.
Mr. Obama is pretending that an economic “recovery” is underway when he knows damn well that the banking system is just blowing smoke up the shredded *** of what’s left of that economy – James Howard Kunstler
I disagree
Death_of_the_Donkey (Diary) Wednesday, October 6th at 4:18PM EDT (link)1) This will only stop mortgage foreclosures for loans that were not legally documented with required title work. Bank held mortgages (ie not securitized) will still process through the system.
2) Credit will not dry up since this is a look into the past on very shoddy (possibly illegal) mortgage underwriting (much of which has already stopped). The effect on credit will be minimal, since this will have no affect on mortgages that are properly documented with a complete chain of title.
amen, this CYA red herring further delays the absolutely necessary bottoming of the housing market and
Mike gamecock DeVine (Diary) Thursday, October 7th at 1:18AM EDT (link)prevents much future lending …more later…predatory lending will now be charged against financial institutions that were made to make the very loans deemed predatory by the federal government intent on doing good for the loan recipients! Yes, the fed govt was predatory, but not the lender and certainly the recipient was not a victim. The loan recipients were the receivers of welfare!
Mike DeVine’s Examiner.com and Charlotte Observer columns
“One man with courage makes a majority.” – Andrew Jackson
RICO
halp Wednesday, October 6th at 3:57PM EDT (link)They best take a look at RICO laws because I think that will be a good way to prosecute.