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

Discussion in 'Politics' started by CrusaderFrank, Dec 9, 2011.

  1. CrusaderFrank
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    CrusaderFrank Diamond Member

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    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]

    [​IMG]
     
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  2. Truthmatters
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    Truthmatters BANNED

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    Then why did none of the Bank CEOs have to go to jail when they cheated people in the mortgage fraud cases?
     
  3. blastoff
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    blastoff Undocumented Reg. User

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    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.
     
  4. Jarhead
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    Jarhead Gold Member

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    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?
     
  5. WillowTree
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    WillowTree Diamond Member

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    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?
     
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  6. WillowTree
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    WillowTree Diamond Member

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    didn't Bernie Madoff go to prison for this?
     
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  7. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    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.
     
  8. 8537
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    8537 Senior Member

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    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
     
  9. Jarhead
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    Jarhead Gold Member

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    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.
     
  10. 8537
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    8537 Senior Member

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    "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.
     

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