Senate Subcommittee Investigation & Findings: WAMU carefully and willfully selected loans it would identify as likely to default to securitize them

Loans duplicated in multiple WaMu and WMALT trusts – ya think they could be capable of more deception? Ahhh yeah, maybe???

Justice League

The Senate Subcommittee Investigation and Findings Washington Mutual Bank was the largest bank failure in history. AC ¶ 10. In April, 2010, the U.S. Senate Subcommittee on Investigations initiated an investigation into “some of the causes and consequences of the financial crisis,” focusing squarely on WaMu’s origination and securitization of mortgage loans “as a case study in the role of high risk loans in the U.S. financial crisis.” Shulman Dec. Ex. A (Wall Street and the Financial Crisis: Hearing before the Permanent Subcomm. On Investigations, April 13, 2010, Hearing Ex. 1a); AC ¶ 65. The Senate Subcommittee found that “WaMu selected and securitized loans that it had identified as likely to go delinquent, without disclosing its analysis to investors who bought the securities,” and that WaMu “securitized loans tainted by fraudulent information, without notifying purchasers of the fraud that was discovered.”

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1 thought on “Senate Subcommittee Investigation & Findings: WAMU carefully and willfully selected loans it would identify as likely to default to securitize them

  1. This report came out in 2010. There is no excuse out senators have not put a stop to this crime against American tax payers, knowing full well this economic crime is man made by the banks and enablers. Not the American tax payers, income earners and makers, not the investors of the trust and definitely not the American homeowners. I sent this report to our Washington Senator Pam Roach in a binder with the topics highlighted in yellow marker, as soon as the report was public, then Pam Roach votes in bad law to enable this crime against us. This report was in her hands. I yellow marker ed the report due to being told the report was to large for her to take time to read 652 pages. I included this report to stop the sham and scams Virginia wrote about in her articles on the Modification Scam (see below) Then read the Harry Potter document. https://deadlyclear.wordpress.com/2013/01/18/hamp-the-modification-scam-and-now-settlement-sham/ & https://deadlyclear.wordpress.com/2013/09/16/mr-potter-and-the-state-of-washington-legislate-no-need-for-original-note-just-take-the-land-bye-bye/#comment-4766
    THERE IS NO EXCUSE FOR THE CRIMES THE BANKS, THE MAJORITY OF COURTS, THE BAD POLITICIANS [THANK GOD ABOVE! NOT ALL POLITICIAN, AND NOT ALL JUDGES] HAVE GOTTEN AWAY WITH SINCE THIS REPORT IN 2010. The politicians, title association and banking association all know the facts, the truth! It is absolutely unbelievable to me they do not know the truth including the judge!

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