CA was "pumped and dumped" by Wall Street. First they hired cheap labor to sit in hotel rooms approving any loan that would be put in mortgage bonds with fraudulent AAA ratings. That pumped the market a quick 50%. Then they dumped massive foreclosures by promising if homeowners were down 3 months in their payments they could get a "mortgage modification". Instead they got foreclosure within 30 days. What the new Treasury Secretary did that was especially fun for the Trumpers was focus on the elderly with Reverse Mortgages. Putting the elderly in the street for a "die quickly" scene is especially good for Trumpers. The bonus was after the 50% drop in values they bought rentals cheap to house all those innocents now on the street needing a place to put their belongings. Goldman Sachs has a special place in Trump's heart.
To any person with a normal sense of decency this is unfathomable. That is why they got away with it and continue to do it, people are just stunned and can’t get their heads around such behavior.
I was listening to Bloomberg radio this morning and they had a gentleman on who was talking nonchalantly about how Gold Sachs had found a backdoor in the financial regulations and were continuing on as if nothing had changed.
These people are dangerous!
Despite prosecutors' recommendation, Attorney General Kamala Harris's office never prosecuted the case against OneWest.
The same Senator-elect Kamala Harris recently hailed by Van Jones as the face of a new Progressive Democratic Party?
Can someone here objectively flesh this out with some details and background? Not encouraged, but need input.
I have been licensed as a Real Estate Broker in CA for 40 years. I stopped after seeing massive fraud waiting to learn what was happening. I agree with you about the sense of decency. No one who understands foreclosures would create them as a way to get money. Like many where I live in Sacramento I stopped working in real estate because it was out of control. If I did what Wall Street did I would be in jail.. Only this year has my son been able to return to a job connected to real estate because we have had some stability in our values. My son and family were also dumped out of their family home and almost had to rent from Blackwater due to the 50% drop in values..
Thanks to Obama and the Democrats, this is what happens when you fail to prosecute illegal doings of the banks. Then every sleaze in the country thinks they can do it too. Look forward, my ass, they should have prosecuted, not fined, the corruption that caused the economy to crash.
Course if Roosevelt had prosecuted the one's trying to take over the government they wouldn't still be at it and trying to do it again.
That's why we have laws and no one should be too big to jail. Bet Madoff won't do it again.
T-dump has a heart? Mnuchin surely doesn't...he runs on pure evil, vitriole, vengeance and greed...just like T-dump. What a diabolical pair they are!
And Madoff with his lifelong greed and malevolence sacrificed his son in the end.
I never believed in the idea of extraterrestrials taking over human bodies and causing havoc on Earth, but the more I read about these appointments and their scandals, the gall, the lack of shame...I'm beginning to believe the world has been taken over because I'll be damned if any of this makes sense.
California Attorney General should be examining the Statute of Limitations to see if it's still possible to bring Charges against the guilty parties.
Yes, particularly Mnunchin.
Bush admin did not prosecute either- then again too big to jail
One of the best posts I have seen!
Money- the ROOT of all evil.
Maybe have a shootout at the okay corral two!
A special was on PBS about this a few years ago called The Untouchables. These people will sell out their own parents.
Really, and does this mean that everyone has a price? I guess so.
I have been wondering about this myself, particularlly from the lack of shame and moralls aspect, it really does at times feel like there is something "more and very strange" going on. It has become quite surreal and getting worse quicklly.
My idea is that we live in particularly virulent form of capitalism, neo-liberalism, no holds barred, strong survive and the weak die.. The neo-liberals capitalists are wreaking havoc far and wide with this ideology.
The idelogy of the invisable hand.
This upcoming administration is shaping up to be the most adversarial in-not-so-recent history. This particularly heinous individual is a case in point. Instead of prison he was able to purchase a seat in the soon to be installed presidential cabinet. What happened to DT's much ballyhooed independence from corporate influence? Was it ever a reality or just another thing of convenience to bamboozle a desperate and gullible electorate. The corruption of Party of No is being revealed to all who are able to see beyond their own preconceived beliefs.
Without any chance of doubt this is what is tearing the Democratic Party apart. With two consecutive Democratic administrations drinking this cool aid they tried to shove another down our throats and were defeated by their own intransigence. I hold a strange sense of pride for those who rejected another Clinton. I just couldn't stomach the alternative. The party may be as corrupt as the one on the right but at least it's supporters have cottoned to what is going on in the Nation's capitol. (The spelling is intentional.)