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Bank of America sued by US for $1B

 
MrAC2U

User ID: 18008148
United States
10/24/2012 02:53 PM
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Re: Bank of America sued by US for $1B
I am right in the middle of this with Countrywide/BoA/Freddymac.

I guess if we can't get our homes outright, the next best thing would be to have the gov adjust the principle amount owed so that people could stay in their homes with a lower monthly payment. I kind of see this happening with the mortgage backed securities being bought from the banks.

Like LW said - we would be paying our mortgages to the gov.

Hopefully the adjustment will be made from a combination of current home values and house hold income. This would take care of the many people displaced from their job due to the economy.

What I don't get- the banks surely know this will do in the dollar. Part of the plan?
 Quoting: MrAC2U


I am in the middle too. Think some of that billion will go to our mortgages?
 Quoting: Renegade (Me too)


I don't know. There are over 100,000 homes underwater in my state. If they foreclose there will be another housing crash here. 100,000 families put out on the street? I don't think so, there has to be an equitable solution. Iceland does come to mind...
Anonymous Coward
User ID: 10463447
Canada
10/24/2012 03:08 PM
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Re: Bank of America sued by US for $1B
"How can this be legal?"

It isn't.. & there's not one person in the midst of them with the integrity to admit it. They know the people will eventually rise up & begin violent opposition.. they've passed enough executive orders to call this opposition, if it ever gets ignited correctly, a terrorist movement and a threat to national security.

They only problem is.. the people are not doing anything. Doesn't matter how many trillions are 'missing', regardless of how many jobs have been lost & despite the millions of people who've become homeless.

Nothing.. not even as much as a garbage can tipped over in protest. Over seas they're hunting bankers and threatening to cut their dicks off, here.? not so much as a whimper..
Anonymous Coward
User ID: 5453499
United States
10/24/2012 03:10 PM
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Re: Bank of America sued by US for $1B
"How can this be legal?"

It isn't.. & there's not one person in the midst of them with the integrity to admit it. They know the people will eventually rise up & begin violent opposition.. they've passed enough executive orders to call this opposition, if it ever gets ignited correctly, a terrorist movement and a threat to national security.

They only problem is.. the people are not doing anything. Doesn't matter how many trillions are 'missing', regardless of how many jobs have been lost & despite the millions of people who've become homeless.

Nothing.. not even as much as a garbage can tipped over in protest. Over seas they're hunting bankers and threatening to cut their dicks off, here.? not so much as a whimper..
 Quoting: Anonymous Coward 10463447


It's legal because most Americans are brainwashed into voting for one of the two choices that support these kind of policies.
Anonymous Coward
User ID: 11831752
Japan
10/24/2012 03:26 PM
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Re: Bank of America sued by US for $1B
Its Chump Change to that Rat Hole of Miscreants.
Anonymous Coward
User ID: 11831752
Japan
10/24/2012 03:27 PM
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Re: Bank of America sued by US for $1B
Its Chump Change to that Rat Hole of Miscreants.
Anonymous Coward
User ID: 3064678
Canada
10/24/2012 04:59 PM
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Re: Bank of America sued by US for $1B
All banking is FRAUD and as long as we consent to the fraudulent banking practices it's gonna continue. Your signature brings the fiat "money" to life, when if ever will there be outrage?? When it all collapses in front of our faces?? That my friends will be far far too late.

I gave up a $30/hour union job because I don't consent to the current system, unions are corrupt and I cannot be apart of it any longer. I have lost a lot at the present time and am damn near penniless, but I figure to go along with the system is far more costly than to not.

I have fallen pretty far in my life, yet I feel so liberated at the present state I'm living in and wouldn't go back for any amount of fake fiat currency. We are at a crossroads in human history and I want to be on the the moral and righteous side of it when it all comes apart.

Thanks for reading and God bless those who see the time of the hour.
Anonymous Coward
User ID: 26226777
United Kingdom
10/24/2012 05:03 PM
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Re: Bank of America sued by US for $1B
a billion is chump change for these fuckers

they have a billion in their pyjama pockets, along with that spunky tissue and that half sucked throat lozenge, ffs
..|O_o|..
User ID: 10463447
Canada
10/24/2012 05:06 PM
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Re: Bank of America sued by US for $1B
That all changes ironically enough.. at midnight Dec. 21 the 99 year charter on the Federal Reserve expires. Without a 'New World' currency/agreement in place, they'll have no choice but to start blowing shit up.

They'll obliterate the entire planet, leaving nothing but blood and bones to pick through & barter with.. if they can't continue to control the illusion they will destroy it all.

One Obama bone will be worth 3-chickens & an eye of Newt will be worth 2 heads of Fukushima lettuce.. tick-tick tick.
Anonymous Coward
User ID: 10463447
Canada
10/24/2012 05:15 PM
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Re: Bank of America sued by US for $1B
Ambassador Grantor

User ID: 1175323
United States
10/24/2012 06:06 PM
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Re: Bank of America sued by US for $1B
[link to www.kcci.com]

(CNN) —
The Justice Department is seeking $1 billion from Bank of America, alleging the bank committed fraud by selling defective mortgages from a program it says was known within the bank as "the Hustle."

Those mortgages were purchased by government-backed mortgage finance firms Fannie Mae and Freddie Mac, resulting in over $1 billion in losses for taxpayers and countless foreclosures, according to the complaint announced Wednesday the U.S. Attorney for the Southern District of New York.


[snip]
 Quoting: mopar28m


They get away with Trillions... and only get fined a Billion...

Crime does pay !

White Collar pays the best !

Ahhhh.... don't you just FEEL the Freedom !?!?!?
"Psychopaths derive their power from the complicity of the populous..."


www.thepagg.org
Epic Beard Guy
Constitutional Crusader

User ID: 24840423
United States
10/24/2012 06:14 PM

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Re: Bank of America sued by US for $1B
They should never have used our tax dollars to bail out those thieves. There is no such thing as "too big to fail", they should have all been allowed to fail. The world would be a much better place without them.
Hope for the best, but prepare for the worst.
"America is at that awkward stage. It's too late to work within the system, but too early to shoot the bastards." -- Claire Wolfe
telling it straight

User ID: 26238589
United States
10/24/2012 06:39 PM

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Re: Bank of America sued by US for $1B
Go see "Atlas Shrugged" and you'll know why this is wrong.
Renegade (Me too)

User ID: 24639180
United States
10/25/2012 08:31 AM

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Re: Bank of America sued by US for $1B
I'm loving it,BOA allowed my exwife to do a restructure mortgage/lower payments without my signature...whats really funny is i have the deed to the house in my hand and shes still paying that mortgage,roflmao...1rof1
 Quoting: T Ceti H.C. Radnarg


How did you get the deed?
Who is John Galt?
Anonymous Coward
User ID: 22168369
United States
01/05/2013 10:06 PM
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Re: Bank of America sued by US for $1B
bump
*Darkzen*

User ID: 14009440
United States
01/05/2013 11:05 PM
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Re: Bank of America sued by US for $1B
And will the american people get a dime of it ?



I think you know the answer...
"Psychopaths derive their power from the complicity of the populous..."


www.thepagg.org
duFontaine.

User ID: 29412599
United States
01/05/2013 11:10 PM

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Re: Bank of America sued by US for $1B
[link to www.kcci.com]

(CNN) —
The Justice Department is seeking $1 billion from Bank of America, alleging the bank committed fraud by selling defective mortgages from a program it says was known within the bank as "the Hustle."

Those mortgages were purchased by government-backed mortgage finance firms Fannie Mae and Freddie Mac, resulting in over $1 billion in losses for taxpayers and countless foreclosures, according to the complaint announced Wednesday the U.S. Attorney for the Southern District of New York.


[snip]
 Quoting: mopar28m


Read about the War style of the future LAWFARE. Seriously
"Accept now that all you have seen from the day of your birth on the surface of the earth, to the present, are wonderful only because the finite mind of man is confused with fragments of evidence, that, from whatever direction we meet them, spring from an unreachable infinity."
Anonymous Coward
User ID: 14093481
United States
01/05/2013 11:11 PM
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Re: Bank of America sued by US for $1B
[link to www.kcci.com]

(CNN) —
The Justice Department is seeking $1 billion from Bank of America, alleging the bank committed fraud by selling defective mortgages from a program it says was known within the bank as "the Hustle."

Those mortgages were purchased by government-backed mortgage finance firms Fannie Mae and Freddie Mac, resulting in over $1 billion in losses for taxpayers and countless foreclosures, according to the complaint announced Wednesday the U.S. Attorney for the Southern District of New York.


[snip]
 Quoting: mopar28m


thats fucking hilarious!

The FEDS gave BAC close to 500 billion a couple years ago.

News








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