We can only hope there is enough righteousness lingering inside Mnuchin – but probably the best person to ask that question to would be Mike Perry the former IndyMac CEO that NY Dem. Senator Chuck Schumer’s rumor took down while his vulture pals waited in the wings.
There two ways of looking at this prospective appointment by President-Elect Trump.
One is that this appointment signals the intent to further “expedite” foreclosures instead of digging deeper into the real facts and fraud by Wall Street banks. Such an effort would eliminate the possibility of the US Treasury clawing back huge sums of money for nonexistent bank losses stemming from alleged defaulted loans.
Some may remember that the infamous TARP bailout was first described and approved as covering losses from the loans to residential homeowners. Then it evolved. The description and approval was to cover losses from failed mortgage bonds. But neither defaults nor bond failures were actual losses of the banks.
They had sold the loans and bore no risk. And they were selling bonds not buying them. Then it evolved again. The description and approval was to cover lost profits on hedge products, insurance and…
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