September 10th, 2012
Author: Matthew D. Weidner, Esq.
Source: Matt Weidner – Fighting for the American People
It’s been a while since I’ve dropped a BOMBSHELL….I’ve frankly been a bit per-occupied with several more important things.
But the documentation of the biggest crime spree ever perpetrated on a nation continues to be rolled out….and it continues to be ignored by EVERYONE IN THIS ENTIRE NATION!
I can only pound on the indictment of insurance fraud documented in the 49 State Attorney General Sellout. The press refuses to report on how we’ve all been sold out by the government that serves the banks…but I digress. No one cares about that anymore.
Let’s talk about the THREE SEPARATE NUCLEAR BOMBSHELLS OF FINANCIAL MASS DESTRUCTION.
The FDIC, (that’s the Federal Deposit Insurance Corporation) just filed suit against the big banks alleging in very specific terms A MASSIVE SCHEME TO LIE, CHEAT, STEAL AND DEFRAUD. You’d think this kind of thing might warrant a story or two in the national press…but then again, they’ve got far more important things to report on. Well, don’t count on The Press to actually report on anything meaningful anymore.
A big hat tip to my friend April Charney who pointed this out to me and much thanks to the Sarasota Council of Neighborhood Associations for inviting me to speak tonight…..anywhoo, just read the allegations in the complaints: (and then ask yourself why no mainstream media will report on any of this):
This is an action for damages caused by violation of the Texas Securities Act
(TSA) and the Securities Act of 1933 (1933 Act) by the defendants. As alleged in detail below, defendants issued, underwrote, or sold eight securities known as “certificates,” which were backed by collateral pools of residential mortgage loans. Guaranty Bank (Guaranty) paid approximately $1.5 billion for the eight certificates. When they issued, underwrote, or sold the certificates, the defendants made numerous statements of material fact about the certificates and, in particular, about the credit quality of the mortgage loans that backed them. Many of those statements were untrue. Moreover, the defendants omitted to state many material facts that were necessary in order to make their statements not misleading. For example, the defendants made untrue statements or omitted important information about such material facts as the loan-to-value ratios of the mortgage loans, the extent to which appraisals of the properties that secured the
loans were performed in compliance with professional appraisal standards, the number of borrowers who did not live in the houses that secured their loans (that is, the number of properties that were not primary residences), and the extent to which the entities that made the loans disregarded their own standards in doing so.
This is an action for damages caused by violation of the Texas Securities Act (TSA) and the Securities Act of 1933 (1933 Act) by the defendants. As alleged in detail below,
defendants issued, underwrote, or sold eight securities known as “certificates,” which were backed by collateral pools of residential mortgage loans. Guaranty Bank (Guaranty) paid approximately $1.5 billion for the eight certificates. When they issued, underwrote, or sold the certificates, the defendants made numerous statements of material fact about the certificates and, in particular, about the credit quality of the mortgage loans that backed them. Many of those statements were untrue. Moreover, the defendants omitted to state many material facts that were necessary in order to make their statements not misleading. For example, the defendants made untrue statements or omitted important information about such material facts as the loan-to-value ratios of the mortgage loans, the extent to which appraisals of the properties that secured the loans were performed in compliance with professional appraisal standards, the number of borrowers who did not live in the houses that secured their loans (that is, the number of properties that were not primary residences), and the extent to which the entities that made the loans disregarded their own standards in doing so.
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Is the article saying the FDIC filed on a violation of Texas banking statute? Was the charges filed in a Texas court? Boy, I sure hope so.
After post additional thought, any “settlement” will be paid with freshly printed dollars “borrowed” at zero interest from the Federal Reserve. More fodder to keep the radical rabble quiet.
I doubt seriously if the solution to our banking problems will ever originate in the U.S.. We may all have to move to a new country.
I need to amend my remark, I didn’t review the rest of the complaints. The only thing that changes is that it expands the defendants to the entire list of those who will be allowed to settle out of any further action against them by ANY government agency or department, The DOJ for instance.
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This case isn’t what it seems to be on the surface. It is a case against basically two defendants, Bank of America and Goldman Sachs as BofA owns all the other defendants. A settlement will be reached before this ever gets to trial at some figure far below the amount sought but large enough to be able to say that they did their job. I’ll bet that the settlement will include the prohibiting of the FDIC from seeking any further damages against these defendants in any other jurisdiction. This is a common practice when the government wants to give special treatment to one of their own. Think BP and the Gulf oil spill.
Jean – main stream news is 100% out of the news business and 100% under control by Central Bankers & Nazi Corporations……..neither print or network would dare fly in the face of this fascist regime and report one line of truth………the internet is the only source for real news….and they’ve done their best to compromise it with dis-information sites………..but people are digging out the truth…….at an increasing rate…………thanks to people like you…………your hard work is greatly appreciated!