GEITHNER SELLOUT: QUICK SETTLEMENT WITH WALL STREET

SEE taking-justice-off-the-table-2-cent-settlement

SUBMITTED BY E. TOLLE

The great whitewash is here. We’ve been setup once again. Sold down the river.

(Reuters) – 3/15/2011- A comprehensive settlement between U.S. authorities and banks over alleged mortgage servicing abuses needs to be reached quickly to help the housing market heal, Treasury Secretary Timothy Geithner said on Tuesday.

Geithner said such a settlement will help dispel legal uncertainty that has been plaguing mortgage lenders and clogging the foreclosure process.

“It is very important that we try to bring this to bed as quickly as we can,” Geithner told the Senate Banking Committee. “I think all parties, not just the servicers, but the state AGs and the federal agencies have a strong stake in doing that.”

Notice the anxiety in this prick’s voice. Legal uncertainty? There IS NO legal uncertainty. We are 100% certain that hundreds of thousands of fraudulent acts were perpetrated. And their rush to judgement is because they know if consumers and advocates have time to digest this, we’ll spit it right back at them. We have to fight like never before. Go back to your AGs in person DEMANDING real justice.

Democratic Senator Jack Reed said the banks are facing a massive legal threat unless a comprehensive deal is reached. He cited the potential for numerous suits from state AGs, repurchase demands from bondholders who invested in billions of dollars in mortgage-backed securities, and lawsuits from individual homeowners.

So? What’s your panic Reed? So what if they have to eat the toxic crap they created both from the top and the bottom? L E T ~ T H E M ~ F A I L ! Put them into receivership if they can’t handle the mess they’ve made. They cannot be allowed to get away with this furtherance of their massive fraud. Can any lawyer on the board please explain to me how they can take away my right to sue for blatant fraud, by a private agreement that doesn’t include me? Is that possible?

http://www.reuters.com/article/2011/03/15/us-financial-regulation-mortgages-idUSTRE72A63J20110315

Also from yesterday:

Watchdog says TARP helps perpetuate “Too big to fail”

(Reuters) – The watchdog panel for the $700 billion bank bailout faulted the U.S. government for the last time on Wednesday, saying the program helped underpin the perception that federal authorities will always prevent troubled financial firms from failing.

In its final report on the bank bailout, the panel attacked the government for not being transparent enough and not articulating clear goals for its foreclosure prevention program.

It also said federal intervention transformed the notion of ‘too big to fail’ into a stark reality.

“Very large financial institutions may now rationally decide to take inflated risks because they expect that, if their gamble fails, taxpayers will bear the loss,” said the report authored by the Congressional Oversight Panel.

~snip~

The TARP’s final cost to taxpayers is estimated to be about $25 billion — an amount far below previous estimates of around $350 billion. Regardless, the panel chided the government for not using the full $50 billion that has been set aside to help keep distressed Americans in their homes.

That last part was pure Geithner. He argued that he didn’t have the authority to use the $50B from TARP to aid homeowners, even though he was told differently by Congress. He still flat out refused. It was earmarked to go to legal aid groups. This guy should be charged with crimes against humanity, for all of the suffering he has caused the American people. All to protect the elite who placed him in his position of power. And blame our asleep at the wheel president as well.

The statement that the banks will simply take huge risks again, knowing full well that they will be backstopped yet again is all the reason you need to put them into receivership. They serve NO VIABLE PURPOSE, save to skim wealth from the rest of us. Die Wall Street!

http://www.reuters.com/article/2011/03/16/us-usa-bailout-banks-idUSTRE72F13520110316

Tags: bailout, disclosure, foreclosure defense, foreclosure offense, fraud, Geithner, housing market, Lender Liability, securitization
Posted in bubble, Corruption, Eviction, securities fraud |