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Whistleblower: Wall Street Has Engaged in Widespread Manipulation of Mortgage Funds

Originally published at http://www.commondreams.org/news/2020/05/15/whistleblower-wall-street-has-engaged-widespread-manipulation-mortgage-funds

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Thanks for running this. The only ones grumbling about this are the Wall Street money managers and a few others like ProPublica. But the fact is all these securities (e.g. with corporate debt) are also going to explode. This will make 2008 look like a picnic, and the Big Shorters richer. It is why Jerome Powell looks like a traumatized ghost these days.

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When we finally–FINALLY!–get around to condemning corporate “persons” to death, Wells Fargo deserves a spot among the first ten.

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I guess we have new definition of insanity:

Watching a re-run of a decade old movie and expecting a different ending.

Or as a great American philosopher and baseball manager would put it, “It’s Deja vu all over again.”

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Let’s build a wall around Wall Street. It will save moving them all into a prison.

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I’m SHOCKED! SHOCKED, that gambling is taking place in this establishment.

Here are your winnings, sir.

Wells Fargo may as well be running drugs from Mexico, for the paltry legitimate business they do.

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“Never again, regulators vowed, would real estate financiers be able to fudge numbers and threaten the entire economy.”

Took me awhile to compose myself after reading this, what a hoot. The “great heist” of 2008, some of the easiest money made in the history of the world. WS steals billions, from all directions, rating bureaus bribed, fines (if any at all) were mere pennies on the stolen dollars…and not one person goes to jail.
To think this wasn’t going happen again, and again, and again, only a fool would believe that BS.

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We’re gonna need a bigger TARP this time, I think.

Only if it’s going to cover their exercise area at their prison.

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Not much discussed after little to no corporate-captured news coverage in U.S. (and Canada). Ask yourself if this were a news bulletin on U.S. News Broadcasts whether it would have sparked campaigns and counter-lobbying campaigns for legislative reform and an uptick in the criminal prosecutions of Money Laundering and other White Collar Crime:
From April 2011 by Ed Vulliamy published in UK’s
(guardian publication/theobserver)

Drugs trade
ttps://www.theguardian.com/world/2011/apr/03/us-bank-mexico-drug-gangs
# How a big US bank laundered billions from Mexico’s murderous drug gangs
As the violence spread, billions of dollars of cartel cash began to seep into the global financial system. But a special investigation by the Observer reveals how the increasingly frantic warnings of one London whistleblower were ignored

"On 10 April 2006, a DC-9 jet landed in the port city of Ciudad del Carmen, on the Gulf of Mexico, as the sun was setting. Mexican soldiers, waiting to intercept it, found 128 cases packed with 5.7 tons of cocaine, valued at $100m. But something else – more important and far-reaching – was discovered in the paper trail behind the purchase of the plane by the Sinaloa narco-trafficking cartel.

“During a 22-month investigation by agents from the US Drug Enforcement Administration, the Internal Revenue Service and others, it emerged that the cocaine smugglers had bought the plane with money they had laundered through one of the biggest banks in the United States: Wachovia, now part of the giant Wells Fargo.”

Mitch Ritter\Paradigm Sifters, Shifters and Song Chasers
Former Wells Fargo Card Services Executive Office
Corporate Office\Regulatory Escalated Complaint Case Worker
and Sr Correspondent (1998-2009)
Lay-Low Studios, Ore-Wa
Media Discussion List

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There is evidence that HSBC is also in the middle of this.

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