Failed Stimulus financial architect has "no idea" what happened to $1.2B

[CrusaderFrank]

The financial architect of Obama's failed Stimulus plan, Jon Corzine, a major Obama fund raiser who was on the short list to replace Timmy Geithner as SetTres appeared before Congress and testified that he had no idea where $1.2B of customer funds.

Maybe Congress should have ask the CEO? Oh wait, Corzine was the CEO!

See, Libs, this is what a CEO does, he runs the company. I think that's why there's always a big disconnect between reality and Neo-Marxist Democrats ideas about what a CEO does, about what the job description is.

Lehmann and BearStearns both went bankrupt and guess how much customer money went missing?

Come on, guess.

NOT A SINGLE FUCKING NICKLE!

This is why the US economy is in tatters, it's run by an Administration that takes its economic advise from criminals and failures.

[ame=http://www.youtube.com/watch?v=4p4-vPrcDBo]Obama: Shovel Ready jobs not shovel ready - YouTube[/ame]

 

[Truthmatters]

Then why did none of the Bank CEOs have to go to jail when they cheated people in the mortgage fraud cases?

 

[blastoff]

Oh, c'mon! The money will show up somewhere. After all we've got Sarbanes-Oxley and Dodd-Frank and the Anti-Poof Law and God knows what else to help keep giant globs of money from just disappearing into thin air.

 

[Jarhead]

Then why did none of the Bank CEOs have to go to jail when they cheated people in the mortgage fraud cases?

Uh...TM....there was NO FRAUD in the lending industry.

It was found that the only fraud committed was by the borrowers who lied on their applications as it pertained to their income and their job history.

So do you want us to go out and arrest all of those lying POS's who are now homeless and struggling to keep their families fed?

Why do you hate poor people?

 

[WillowTree]

Then why did none of the Bank CEOs have to go to jail when they cheated people in the mortgage fraud cases?

we need you to explain to we the people how it is that the bank ceo's cheated people. please and thank you.. what is mortgage fraud and who was cheated?

 

[WillowTree]

The financial architect of Obama's failed Stimulus plan, Jon Corzine, a major Obama fund raiser who was on the short list to replace Timmy Geithner as SetTres appeared before Congress and testified that he had no idea where $1.2B of customer funds.

Maybe Congress should have ask the CEO? Oh wait, Corzine was the CEO!

See, Libs, this is what a CEO does, he runs the company. I think that's why there's always a big disconnect between reality and Neo-Marxist Democrats ideas about what a CEO does, about what the job description is.

Lehmann and BearStearns both went bankrupt and guess how much customer money went missing?

Come on, guess.

NOT A SINGLE FUCKING NICKLE!

This is why the US economy is in tatters, it's run by an Administration that takes its economic advise from criminals and failures.

Obama: Shovel Ready jobs not shovel ready - YouTube

didn't Bernie Madoff go to prison for this?

 

[Mad Scientist]

Then why did none of the Bank CEOs have to go to jail when they cheated people in the mortgage fraud cases?

Because our gov't (both parties) is owned and run by the Bankers. But there is hope, State Attorney Generals are suing the Banks and Mortgage Brokers in fraud cases nationwide. Joe Bidens' son is one of them (Check Delaware Attn Gen.) See how the answer to Gov't Tyranny lies with the power of the States? That's why we're the United STATES of America not the United GOV'T of America.

Jon Corzine knows exactly where the money went. MF Global co-mingled all their investors money and made huge, leveraged bets on European Sovereign Debt and lost big.

He then paid himself about 100 Million dollars and left the company in ruins. Thousands of investors had their money stolen and Jon Corzine knows exactly what happened because he orchestrated it.

 

[8537]

Then why did none of the Bank CEOs have to go to jail when they cheated people in the mortgage fraud cases?

Uh...TM....there was NO FRAUD in the lending industry.

Leader of Big Mortgage Lender Guilty of $2.9 Billion Fraud
http://www.nytimes.com/2011/04/20/business/20fraud.html

Mortgage lender pleads guilty in mortgage fraud scheme
Phoenix mortgage lender pleads guilty in mortgage fraud scheme | KVOA.com | Tucson, Arizona

Lawyer found guilty in home mortgage fraud scheme
Chicago lawyer, three others convicted in mortgage fraud scheme - chicagotribune.com

 

[Jarhead]

Then why did none of the Bank CEOs have to go to jail when they cheated people in the mortgage fraud cases?

Uh...TM....there was NO FRAUD in the lending industry.

Leader of Big Mortgage Lender Guilty of $2.9 Billion Fraud
http://www.nytimes.com/2011/04/20/business/20fraud.html

Mortgage lender pleads guilty in mortgage fraud scheme
Phoenix mortgage lender pleads guilty in mortgage fraud scheme | KVOA.com | Tucson, Arizona

Lawyer found guilty in home mortgage fraud scheme
Chicago lawyer, three others convicted in mortgage fraud scheme - chicagotribune.com

Thanks for the links....but are you aware that those had nothing to do with the housing market bubble and the crux of the ledning issue.

None were actual lenders. One was a settlemtn attorney..

One of them had to do with an escrow violation.

They were all scum bags capitalizing on the market....wire fraud being one of them; misrepresntation of the quality of a home being another...

But none were based on the actual issue itself...loans not being viable and being sold as viable.

 

[8537]

Uh...TM....there was NO FRAUD in the lending industry.

Leader of Big Mortgage Lender Guilty of $2.9 Billion Fraud
http://www.nytimes.com/2011/04/20/business/20fraud.html

Mortgage lender pleads guilty in mortgage fraud scheme
Phoenix mortgage lender pleads guilty in mortgage fraud scheme | KVOA.com | Tucson, Arizona

Lawyer found guilty in home mortgage fraud scheme
Chicago lawyer, three others convicted in mortgage fraud scheme - chicagotribune.com

Thanks for the links....but are you aware that those had nothing to do with the housing market bubble and the crux of the ledning issue.

None were actual lenders. One was a settlemtn attorney..

One of them had to do with an escrow violation.

They were all scum bags capitalizing on the market....wire fraud being one of them; misrepresntation of the quality of a home being another...

But none were based on the actual issue itself...loans not being viable and being sold as viable.

"The founder of what was once one of the nation’s largest mortgage lenders was convicted of fraud on Tuesday for masterminding a scheme that cheated investors and the government out of billions of dollars. "

He was selling junk loans - even fake loans - as viable.

 

[Jarhead]

Leader of Big Mortgage Lender Guilty of $2.9 Billion Fraud
http://www.nytimes.com/2011/04/20/business/20fraud.html

Mortgage lender pleads guilty in mortgage fraud scheme
Phoenix mortgage lender pleads guilty in mortgage fraud scheme | KVOA.com | Tucson, Arizona

Lawyer found guilty in home mortgage fraud scheme
Chicago lawyer, three others convicted in mortgage fraud scheme - chicagotribune.com

Thanks for the links....but are you aware that those had nothing to do with the housing market bubble and the crux of the ledning issue.

None were actual lenders. One was a settlemtn attorney..

One of them had to do with an escrow violation.

They were all scum bags capitalizing on the market....wire fraud being one of them; misrepresntation of the quality of a home being another...

But none were based on the actual issue itself...loans not being viable and being sold as viable.

"The founder of what was once one of the nation’s largest mortgage lenders was convicted of fraud on Tuesday for masterminding a scheme that cheated investors and the government out of billions of dollars. "

He was selling junk loans - even fake loans - as viable.

So you answered TM's question.

So should we also go after those that lied on the applications? (I say no...)

Are you aware that an application is deemed as an affidavit and the signer attests to the validity of the information to the best of their knowledge?

Likewise, are you aware that the application is signed 4 times...once at time of application..

AND 3 times at closing?

 

[8537]

Thanks for the links....but are you aware that those had nothing to do with the housing market bubble and the crux of the ledning issue.

None were actual lenders. One was a settlemtn attorney..

One of them had to do with an escrow violation.

They were all scum bags capitalizing on the market....wire fraud being one of them; misrepresntation of the quality of a home being another...

But none were based on the actual issue itself...loans not being viable and being sold as viable.

"The founder of what was once one of the nation’s largest mortgage lenders was convicted of fraud on Tuesday for masterminding a scheme that cheated investors and the government out of billions of dollars. "

He was selling junk loans - even fake loans - as viable.

So you answered TM's question.

So should we also go after those that lied on the applications? (I say no...)

yes! We should also go after the people who encouraged people to sign false statements, the lenders who knowingly accepted false documents etc, the companies that robo-signed loans (Just because everyone else did it doesn't make it legal, despite Mozilo and others skating on such claims)

 

[Claudette]

1.2 Billion of investor money has disappeared??

Good thing Corzine got a good lawyer early on.

Looks like he's sure gonna need em.

 

[Soggy in NOLA]

Then why did none of the Bank CEOs have to go to jail when they cheated people in the mortgage fraud cases?

Because there was no mortgage fraud...

 

[Avatar4321]

Then why did none of the Bank CEOs have to go to jail when they cheated people in the mortgage fraud cases?

Because that would have indicted the politicians, and so they bailed the banks out.

 

[Avatar4321]

Then why did none of the Bank CEOs have to go to jail when they cheated people in the mortgage fraud cases?

Because there was no mortgage fraud...

That too.

 

[Avatar4321]

So why exactly are certain people silent on this when they weren't when money was supposedly missplaced during the Bush administration, despite the fact we found that money?

 

[Jarhead]

"The founder of what was once one of the nation’s largest mortgage lenders was convicted of fraud on Tuesday for masterminding a scheme that cheated investors and the government out of billions of dollars. "

He was selling junk loans - even fake loans - as viable.

So you answered TM's question.

So should we also go after those that lied on the applications? (I say no...)

yes! We should also go after the people who encouraged people to sign false statements, the lenders who knowingly accepted false documents etc, the companies that robo-signed loans (Just because everyone else did it doesn't make it legal, despite Mozilo and others skating on such claims)

would you allow someone to enocurage you to lie on an affidavit.....4 times?

If a man goes up to another man and says..."go rob that bank...it is easy and and it will make you financially secure".....and the man robs the bank.....

Who is guilty of what?

No one robo signed loans......that is illegal.

A loan has a closing and in attendance at the closing is a title closer (assumning there is title insurance involved), the borrower, and a representative of the settlemt attorney (the bank attorney). This settlemtn rep is either the attorney himself/herself or a noatry public of the state where the signing takes place.

During the signing, the title closer ensures no new leins on the property or leins on the borrower have arisen since the laon was approved by the underwriter. The settlement rep is not there to offer ANY legal advice to the borrower...they are there to explain the documents and to naotarize the signatures of the borrowers...

But nothing is robo signed...and ironically...SOME STATES still insist on blue ink to ensure all signatures are not copies of signatures.

Loans then go through a post closing...which is a review of the docs to ensure all are signed.

Then they go through a bank audit...again assuring all docs are signed properly...and anything with a question mark goes into "suspense"...where all errors are presented to the borrowers and the borrowers are to address personally...again, in blue ink and with a notary.

There is no robo signing...

 

[Soggy in NOLA]

Question: Why would any bank intentionally loan money to somebody they know could never pay the money back?

Answer: CRA

 

[edthecynic]

Failed Stimulus financial architect has "no idea" what happened to $1.2B

Whenever CON$ have a one or two word "quote" you can be sure they are hiding something. Now, of course, those same CON$ would have a shit fit if the same type of quoting was done to a CON$ervative!!!

"I want to emphasize that, since my resignation from MF Global on November 3, 2011, I have not had access to the information that I would need to understand what happened,"

Here is a taste of your own medicine!

December 07, 2011
CALLER: Rush, I didn't know that I could say it, but it hurts to say, that I hate this country.

RUSH: Okay. Okay. A lot of us do.