WITH CRIMINAL INTENT: The Wall Street Fraud Of The Week Club Is At $200 Billion And Counting – By Richard Eskow

RIELPOLITIK

Source – ourfuture.org

In April 2006, while Goldman was preparing an RMBS backed by Countrywide loans for securitization, a Goldman mortgage department manager circulated a “very bullish” equity research report that recommended the purchase of Countrywide stock. Goldman’s head of due diligence, who had just overseen the due diligence on six Countrywide pools, responded “If they only knew …”

– Annex 1, “Statement of Facts,” Goldman Sachs/U.S. Department of Justice, April 11 2016

“In his capacity as Vice President of Credit-Risk — Quality Assurance at Wells Fargo, Lofrano executed on Wells Fargo’s behalf the annual certifications required by HUD … Moreover, Lofrano received Wells Fargo quality assurance reports identifying thousands of FHA loans with material findings — very few of which Wells Fargo reported to HUD.”
– Department of Justice press release, April 8 2016

A $5.1 billion fraud settlement from Goldman Sachs, a $1.2 billion fraud agreement with…

View original post 1,070 more words

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s