{"id":5767,"date":"2011-09-03T00:05:46","date_gmt":"2011-09-03T07:05:46","guid":{"rendered":"http:\/\/www.politicsplus.org\/blog\/?p=5767"},"modified":"2011-09-03T00:05:46","modified_gmt":"2011-09-03T07:05:46","slug":"fhfa-to-sue-banksters","status":"publish","type":"post","link":"https:\/\/www.politicsplus.org\/blog\/2011\/09\/03\/fhfa-to-sue-banksters\/","title":{"rendered":"FHFA to Sue Banksters"},"content":{"rendered":"

Fannie Mae and Freddie Mac were left holding the bag for $millions over the default of government guaranteed loans when RepubliCorp aided Banksters in dropping the bottom out of the housing market in late 2008.  I have long objected to taxpayers footing the bill for the effects of the actions of corporate criminals.  The Banksters and RepubliCorp should be made to pay instead.<\/font><\/p>\n

\n

\"3banksters\"The U.S. as soon as Friday could file suit against a dozen big banks over improper mortgage securities<\/strong>, according to a news report.<\/p>\n

The New York Times<\/a> reported Friday that the Federal Housing Finance Agency would bring the suit in coming days against a number of banks the regulator believes misrepresented the quality of mortgage securities sold to Fannie Mae and Freddie Mac<\/strong>. <\/p>\n

The FHFA oversees Fannie and Freddie, which were nearly shuttered after the financial meltdown in 2008, which was driven by mortgage securities. The U.S. economy continues to struggle from the effects of that crisis, with home prices in many parts of the country continuing to fall.<\/p>\n

The report in the Times said the suit would be aimed at Bank of America, JPMorgan Chase, Goldman Sachs and Deutsche Bank, among other big banks<\/strong>. It said the U.S. will argue that these banks failed to conduct due diligence over whether borrowers had the incomes to back up the loans on which the mortgage securities were based… [emphasis added<\/em>]<\/p>\n<\/blockquote>\n

Inserted from <The Hill<\/a>><\/p>\n

I consider this excellent news.  Banksters and RepubliCorp should cover the damages from their own crimes.  For Banksters, at least this is a small start.  To make RepubliCorp pay, we\u2019ll have to wait until November, 2012.<\/font><\/p>\n","protected":false},"excerpt":{"rendered":"

Fannie Mae and Freddie Mac were left holding the bag for $millions over the default of government guaranteed loans when RepubliCorp aided Banksters in dropping the bottom out of the housing market in late 2008.  I have long objected to taxpayers footing the bill for the effects of the actions of corporate criminals.  The Banksters […]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-5767","post","type-post","status-publish","format-standard","hentry","category-politics","category-5-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/5767","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/comments?post=5767"}],"version-history":[{"count":0,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/5767\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/media?parent=5767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/categories?post=5767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/tags?post=5767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}