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60 Minutes!!

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    Default 60 Minutes!!

    I know am a fan of it,tonights segment was about all 50 States Attorney Generals wanting to get a Class Action Suit on several Banks on Forging Documents resulting in foreclosures. They have proof and case after case of fraud.You trust the bank or instution and with the governments help,lose everything. The FDIC along with other banking regulations should have prevented this.It is very sad to see hard working people testify they thought were doing what is correct.?

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    Senior Member GRoper's Avatar
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    Im in that boat!

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    Quote Originally Posted by GRoper View Post
    Im in that boat!

    It ws sickening they hired a business to literally forge documents all day long and knowingly commit fraud. They interviewed a guy who did nothing but sign a Woman's name? WTF? if it was the consumer,he would be in Jail. This housing market disaster has much more to be told than is out here now.There are many Crooks living the Good Life and the We are going to be paying for it.

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    In INTERNET REHAB Her454's Avatar
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    Banks Paid to have Foreclosure Documents Forged! Say they “farmed out” the work…

    Docx, and companies like it, were recreating missing mortgage assignments for the banks and providing the legally required signatures of bank vice presidents and notaries. Linda Green says she was named a bank vice president by Docx because her name was short and easy to spell. As demand exploded, Docx needed more Linda Greens.
    "So you're Linda Green?" Pelley asked Chris Pendley."Yeah, can't you tell?" Pendley, who is a man, replied.
    Pendley worked at Docx at the same time and signed as Linda Green."When you came in to Docx on your first day, what did they tell you your job was gonna be?" Pelley asked.

    "They told me that I was gonna be signing documents for using someone else's name," Pendley remembered.

    "Did you think there was something strange about that in the beginning?" Pelley asked.

    "Yeah, it seemed a little strange. But they told us and they repeatedly told us that everything was above board and it was legal," Pendley said.


    These financial institutions should be fined and punished to the max extent of the law, however HOW DUMB can people be? Seriously, how many of you would go to work for a company signing "someone else's name"? It's sad, but in the end the fault ultimately lies with the borrower for the "actual mortgages". READ and KNOW what you sign and know what you can afford, period.

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    Quote Originally Posted by Her454 View Post
    Banks Paid to have Foreclosure Documents Forged! Say they “farmed out” the work…

    Docx, and companies like it, were recreating missing mortgage assignments for the banks and providing the legally required signatures of bank vice presidents and notaries. Linda Green says she was named a bank vice president by Docx because her name was short and easy to spell. As demand exploded, Docx needed more Linda Greens.
    "So you're Linda Green?" Pelley asked Chris Pendley."Yeah, can't you tell?" Pendley, who is a man, replied.
    Pendley worked at Docx at the same time and signed as Linda Green."When you came in to Docx on your first day, what did they tell you your job was gonna be?" Pelley asked.

    "They told me that I was gonna be signing documents for using someone else's name," Pendley remembered.

    "Did you think there was something strange about that in the beginning?" Pelley asked.

    "Yeah, it seemed a little strange. But they told us and they repeatedly told us that everything was above board and it was legal," Pendley said.

    These financial institutions should be fined and punished to the max extent of the law, however HOW DUMB can people be? Seriously, how many of you would go to work for a company signing "someone else's name"? It's sad, but in the end the fault ultimately lies with the borrower for the "actual mortgages". READ and KNOW what you sign and know what you can afford, period.


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    Default Inside Job

    If you haven't seen it, rent it. Tells the story of how all the banks were in on the subprime lending deal. The whole story reekes of corruption, greed and carelessness. None of these dudes went to jail, WTF? Instead, they are still living the high life or working for the current administration.

    http://www.sonyclassics.com/insidejob/
    Last edited by MBT; 04-03-2011 at 09:31 PM.

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    Senior Member shintoooo's Avatar
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    Sickening

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    Although there may be mistakes by consumers,they were misled and deceived by banks that were protected by our government.This is a disaster that is not even close to be over yet and some profited greatly and many have and will suffer imensley.

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    Quote Originally Posted by Jet-Daytona View Post
    Although there may be mistakes by consumers,they were misled and deceived by banks that were protected by our government.This is a disaster that is not even close to be over yet and some profited greatly and many have and will suffer imensley.
    So true.

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    Its the same way they started this mess with bogus fake crap.... If they never did these neg am loans and the like... THIS WOULD HAVE NEVER HAPPENED IN THE FIRST PLACE
    Quote Originally Posted by ram78d10 View Post
    It appears you are not getting dumber by the minute because you are already as dumb as anyone can be.

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    Quote Originally Posted by MBT View Post
    If you haven't seen it, rent it. Tells the story of how all the banks were in on the subprime lending deal. The whole story reekes of corruption, greed and carelessness. None of these dudes went to jail, WTF? Instead, they are still living the high life or working for the current administration.

    Inside Job - Movie Website for the Documentary Film

    I'd recommend everyone rent this and watch it.

    Take your blood pressure meds first though.

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    Default If that doesnt chap your hide..... This might!

    Our old CEO of Lehman Bros "Richard Fuld" was found on his 60 million dollar yacht a couple of years back in front of his 13.8 million dollar vacation home on Jupitar Island with a self inflicted gun shot wound (possible multiple, I dont remember exactly). He was found by his buddy, and ex CEO of WAMU while that guy was on his yacht. Coast guard was called, and Mr Fuld didnt die (if you cant do it right with a gun, then you are pleading for help, not trying to commit suicide, in my eyes). Well after interviews, it was determined that he was stressed out due to the pending litigation against him stemming from Lehman Brothers, the possibility of having to file BK, AND that he was 2-3 months behind payments on that 60 million dollar yacht. So what did Uncle Sam do? Created the "Millionaire Yacht Bailout Bill". Yes, this fock was able to get bailed out of a $60mill TOY!

    Then he went on to sell his wife the house mentioned above for reports of between $10-$100 according to tax records. So, now he has a yacht that was bailed out by "us", and he transfers his vacation house into his wifes name to avoid loosing in bk, AND his taxes drop to a few dollars, yet no one in the gov't is calling BS on that yet.

    Lehman Brothers CEO attempts suicide - Wachovia forgives luxury Yacht Loan - CEO Richard Fuld - Zimbio

    Lehman’s Ex-Chief Sold Mansion to Wife for $10 - NYTimes.com

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    Quote Originally Posted by Jet-Daytona View Post
    Although there may be mistakes by consumers,they were misled and deceived by banks that were protected by our government.This is a disaster that is not even close to be over yet and some profited greatly and many have and will suffer imensley.
    I don't quite get how the banks can be to blame, they made loans that people wanted (not needed). If there wasn't a consumer of the loans being offered, then those loans wouldn't exist, or be utilized.

    I understand there have been some immoral business practices by some banks, but ultimately people bought into the loans.

    I don't believe any companies should have been bailed out. They should have figured out how to make it work, or close their doors like the average small business owner would be forced to do.
    Last edited by H2oSki2Fast; 04-04-2011 at 11:17 AM.
    Lead, follow, or get the hell out of the way!

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    VOTE! RodnJen's Avatar
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    I would argue that there is plenty of blame/responsibility to go around at ALL levels.

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