Very well positioned. They think they are protecting the banks from failing by allowing the the foreclosures to keep them liquid and stopping the fines for bad behavior. Let’s face it – the crash will likely wipe them out of retirement investments. Karma is a bitch.
If they really wanted to clean up the banks and protect American citizens they’d confiscate the computer programs and software designed to default America…and regulate the industry.
By William Hudson
The big banks have demonstrated to the world that they own everything including the courts, law enforcement and government officials. They have demonstrated this fact by rigging currency and economies, obtaining bailouts when they had no losses, foreclosing on loans they can’t prove they own, playing both sides of the market and by purchasing government representatives with “deals” they just can’t turn down. Meanwhile 318 million Americans have had their lives impacted or decimated by illegal banking practices.
In late May, a federal appeals court ruled it will not hold Bank of America accountable for the sale of worthless mortgages, overturning a paltry $1.27 billion penalty they had been ordered to pay. A panel of three judges ruled that federal prosecutors had failed to prove that Bank of American’s Countrywide Mortgage division had defrauded Fannie Mae and Freddie Mac by selling them fatally flawed loans. Seriously…
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