asterisk2a + securities-fraud   9

Politicking: Matt Taibbi on America's 'Injustice System' - YouTube
worship culture of success. [...] jail is for poor people. [...] securities fraud go jail free w fine, and do benefit/welfare fraud, go straight to jail! // For Profit Bail System - on YouTube Vice Channel. //&! Matt Taibbi, "The Divide" - //&! Matt Taibbi: Minding the Wealth Gap - //&! Too Big To Fail, Too Big To Jail: Matt Taibbi, Bernie Sanders Town Hall 2013 - //&! Matt Taibbi: The Conspiracy To Destroy Our Pensions - //&! Matt Taibbi explores US criminal injustice with Bill Maher - //&! The Divide: American Injustice in the Age of the Wealth Gap (w/ Matt Taibbi) -
white-collar  crime  mandatory  minimum  sentences  Beschaffungskriminalität  post-racial  America  racial  profiling  economic  justice  injustice  System  Law  &  Career  Politicians  War  on  Drugs  Precariat  deprivation  poverty  trap  USA  Gini  coefficient  prison–industrial  complex  inequality  meritocracy  meritocratic  American  Dream  education  policy  social  mobility  income  mobility  health  inequality  mental  health  mental  illness  chronic  stress  poverty  book  compassion  empathy  Greed  welfare  state  stigma  plutocracy  oligarchy  Super  Rich  1%  Fraud  securities-fraud  social  safety  net  Food  Stamps  Food  Bank  public  sentiment  prejudice  bias  downward  mobility  trickle-down  economics  neoliberalism  neoliberal  neoconservatism  neoconservatives  financial  accounting  scandal  corporate  scandal  lobbyist  lobby  Lobbying  interest  groups  vested  interest  too  big  to  jail  money  laundering  bribery  corruption  DOJ  SEC  presidency  barackobama  GFC  financial  product  economic  history  squeezed  middle  class  working  poor  wage  stagnation  libor  rigging  scandal 
february 2016 by asterisk2a
"The Untouchables (2013)" PBS documentary about how the Holder Justice Department refused to prosecute Wall Street Fraud despite overwhelming evidence : Documentaries
faustian pact they've made. getting funded their elections by greedy crony capitalists. and are thus beholden to their calls they make and the framework they said they would give them funding for their campaign under. // "breakdown of internal controls [...] 60% of loans in possible portfolio did not meet its own standards, were still bought, put into portfolio" - Citigroup exec // Underfunded/understaffed/non-experience/no-stars @FBI and CIA! corporates have a bigger pocket and star lawyers who know how to position and spin. And without a Whistleblower/Leak it is nearly impossible if not for the case that the accused was really stupid and left a clear trail and or incriminates himself in paperwork/communication. // "criminal intent" //&! No Regrets at Countrywide - //&! Countrywide’s Mozilo Said to Face U.S. Suit Over Loans - //&! NEW SUIT - No, the US government hasn’t forgotten about Countrywide founder Angelo Mozilo -
GFC  banking  crisis  Greed  crony  capitalism  bank  bailout  economic  history  white-collar  crime  accounting  scandal  corporate  scandal  lobbyist  lobby  Lobbying  Career  Politicians  No  Representation  oligarchy  plutocracy  Super  Rich  1%  Fraud  securities-fraud  bonuses  bonus  financial  incentive  financial  literacy  FinancialCrisisInquiryCommission  Mozilo  CountrywideFinancial  Angelo  Mozilo  subprime  NINJA  Loan  non-performing  NPL  CDS  CDO  citigroup  misselling  misrepresentation  Consumer  Protection  misleading  Positioning  PR  spin  doctor  manufactured  consent  Whistleblower  Eric  Holder  presidency  barackobama  Party  Funding  Justice  System  economic  injustice  Washington  revolving  door  accountability  due  diligence  miconduct 
january 2016 by asterisk2a
How the banks ignored the lessons of the crash | Joris Luyendijk | Business | The Guardian
Joris Luyendijk spent two years talking to hundreds of City insiders. They revealed how close we came to disaster – and how quickly finance went back to business as usual [...] [Like in cycling, doping ... omerta ... blood brother ] The City is governed by a code of silence and fear of publicity; those caught talking to the press without a PR officer present could be sacked or sued. But once I had persuaded City insiders to talk (always and only on condition of anonymity), they were remarkably forthcoming.
GFC  economic  history  banking  crisis  bank  crisis  shadow  banking  NPL  credit  bubble  recovery  monetary  policy  modern  monetary  theory  TBTF  too  big  to  jail  too  big  to  bail  Oversight  transparency  accountability  CEO  pay  self-regulation  regulation  regulators  lobbyist  lobby  Lobbying  Career  Politicians  No  Representation  fairness  Generationengerechtigkeit  austerity  sovereign  debt  crisis  revolving  door  1%  ZIRP  reflate  reflation  NIRP  QE  Super  Rich  2015  Wall  Street  profit  maximisation  shareholder  value  London  tax  evasion  tax  avoidance  investment  banking  retail  banking  fractional  reserve  banking  excess  reserves  libor  rigging  scandal  bribery  fraud  securities-fraud  corruption 
september 2015 by asterisk2a
U.S. banks offered deal over lawsuits: report | Reuters
(Reuters) - Big U.S. banks in talks with state prosecutors to settle claims of improper mortgage practices have been offered a deal that may limit their legal liabilities in return for a multibillion-dollar payment, the Financial Times reported on Tuesday.

The FT, citing five people with direct knowledge of the discussions, said state prosecutors have proposed settlement language in the "robosigning" cases that also might release the companies from legal liability for wrongful securitization practices.
robosigning  subprime  security  securities-fraud  securities  mortage  MBS  suit  2011  august  september  lawsuit  FHFA  settelment  fanniemae  freddiemac 
september 2011 by asterisk2a
TARPed, RETARPed, And Then DETARPed | ZeroHedge
Former Merrill Lynch CEO John Thain accurately described the problem to the FCIC in September 2010:
 "when you have a system where you pay someone for originating mortgages simply on volume and nothing happens to them if the credit quality is bad, and nothing happens to them if the borrower is fraudulent on his loan application, and nothing happens to him if the appraisal’s fraudulent, then that’s probably not a very smart system."

Some of the firms sued today had asked the Treasury and the Fed to slow the process so they could settle the claims out of court, according to a person briefed on the private conversation who spoke on condition of anonymity. The impending lawsuits were one subject of an Aug. 10 meeting at Treasury between Bank of America Chief Executive Officer Brian Moynihan and Treasury Secretary Timothy F. Geithner, the person said.

his purchase of Countrywide is now the single worst M&A transaction in history,
FHFA  FCIC  subprime  mortage  fraud  misleading  security  securities  securities-fraud  2011  Bofa  toobigtofail  CountrywideFinancial  KenLewis  merrylllynch  M&A  2008  henrypaulson  history 
september 2011 by asterisk2a
Goldman's Dan "Shitty Deal" Sparks Sued For Selling Junk, Dogs, Big old lemons, and Monstrosities | ZeroHedge
While the FHFA has targeted lawsuits at a whole bunch of employees of the 17 banks previously disclosed, nothing gives us as much amusement and frankly pleasure, as the fact that Goldman's definition of smugness - one Dan Sparks of "shitty deal" fame, is among the accused. Perhaps, even in uber crony communist America, what goes around eventually comes around. Now, if only someone can figure out how Warren Buffett's Wells Fargo, with its several hundred billion worth of Wachovia toxic biohazard, is not on the list of defendants...

That Goldman knew of the originators’ abandonment of applicable underwriting guidelines and of the true nature of the mortgage loans it was securitizing is further evidenced by how Goldman handled its own investments.
FHFA  timberwolf  goldmansachs  security  securities  fraud  subprime  mortage  securities-fraud  2011  freddiemac  fanniemae  Abacus  misleading  GSE  MBS 
september 2011 by asterisk2a
Full FHFA Statement Disclosing Suits Against 17 Banks (Including Such Dead Man Walking As SocGen) | ZeroHedge
FHFA Sues 17 Firms to Recover Losses toFannie Mae and Freddie Mac

Ally Financial Inc. f/k/a GMAC, LLC2. Bank of America Corporation3.Barclays Bank PLC4. Citigroup, Inc.5. Countrywide Financial Corporation6.Credit Suisse Holdings (USA), Inc.7.Deutsche Bank AG8.First Horizon National Corporation9.General Electric Company 10.Goldman Sachs & Co.11. HSBC North America Holdings, Inc.12.JPMorgan Chase & Co.13.Merrill Lynch & Co. / First Franklin Financial Corp.14.Morgan Stanley 15.Nomura Holding America Inc.16.The Royal Bank of Scotland Group PLCSociété Générale

FHFA alleges that the loans had different and more risky characteristics than the descriptions contained in the marketing and sales materials provided to the Enterprises for those securities.
FHFA  2011  freddiemac  fanniemae  GSE  fraud  mortage  securities  security  MBS  securities-fraud 
september 2011 by asterisk2a
Two Down, Many More To Go - Bank Of America Sued For $31 Billion In Mortgage Losses | ZeroHedge
FHFA Sues Barclays over mortgage securities over losses for $4.9 billion: RTRSFHFA Sues Merrill Lynch Bank of Americal over mortgage securities over losses for $30.85 billion: RTRS
Federal housing finance agency sues Barclays PLC BARC.L - court filing Federal housing finance agency sues Barclays over losses on $4.9 billion rmbs Federal housing finance agency sues Bank of America Corp BAC.N - court    filingFederal housing finance agency sues Bank of America Corp over losses on more    than $6 billion securitiesFederal housing finance agency sues bank of America's Merrill Lynch unit over    losses on $24.85 billion securitiesFederal housing finance agency sues Nomura Holdings Inc 8604.T - court    filingFederal housing finance agency sues Nomura over losses on more than $2    billion securitiesFederal housing finance agency sues Citigroup Inc C.N - court filing Federal housing finance agency sues Citigroup Inc over losses on $3.5 billion    securities
FHFA  barclays  merrylllynch  bofa  mortage  securities-fraud  fraud  CountrywideFinancial  citigroup  2011 
september 2011 by asterisk2a
Cohan Says FHFA Pursuing All Legal Means for GSEs - YouTube
William Cohan, a Bloomberg View columnist and Bloomberg Television contributing editor, talks aboutthe possibility that large banks may be sued by the U.S. Federal Housing Finance Agency for misrepresenting the quality of mortgage securities sold at the height of the housing bubble. Cohan speaks with Matt Miller on Bloomberg Television's "InsideTrack." (William Cohan, author of "Money and Power: How Goldman Sachs Came to Rule the World," is a Bloomberg View columnist. The opinions expressed are his own. Source: Bloomberg)
FHFA  mortage  securities  securities-fraud  2011  fraud  freddiemac  fanniemae  subprime  misleading  misrepresentation  civilsuit  litigation  settelment  MBS  GSE  lawsuit  blamegame  accountability  responsibility 
september 2011 by asterisk2a

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