Foreclosuregate | Janet Tavakoli – Repairing the Damage of “Fraud as a Business Model”

“Widespread Interconnected Ponzi Scheme”

~

Repairing the Damage of
“Fraud as a Business Model”

Presentation to the
Federal Housing Finance Agency Supervision Summit
Washington, D.C.

Janet Tavakoli, President
Tavakoli Structured Finance, Inc.
December 8, 2010

Janet Tavakoli’s presentation she prepared for the Federal Housing Finance Agency Supervision Summit earlier today…

Some key takeaways from the presentation…

Widespread Interconnected Ponzi Scheme

Securitization professionals at several  financial institutions knowingly bundled fraud  riddled loans into RMBS.  New investors  needed to pay-off old investors.  To delay  being busted, they escalated and sped up the  fraud. This required more “complexity” and the  involvement of more cronies.   Many CDOs and virtually every CDO-Squared  were more fraud to cover-up fraud.

Fraud audits are in order

Financial Meth Labs
• Investment banks – securities fraud
• Mortgage lenders – widespread fraud
• Rating agencies – junk science
• CDO “managers” – crash test dummies & accomplices
• Certain hedge funds – shorted CDOs they “managed”
• Bond insurers – money for nothing
• Regulators – poseurs and enablers

Banks (not borrowers) Broke the Law
•  Delinquency is not a crime.
•  Being foreclosed upon is not a crime.
•  Bankruptcy is not a crime.

Full presentation below…

~

4closureFraud.org

~

Tavakoli Fraud as Business Model

Comments
6 Responses to “Foreclosuregate | Janet Tavakoli – Repairing the Damage of “Fraud as a Business Model””
  1. Concerned says:

    I distinctly remember from my childhood how my family members viewed those who needed to declare bankruptcy. It was worse than having to just sell a farm and move to find work. Filing for bankrutcy was shameful. People would just sell out rather than to use bankruptcy.

    But that was a different time. The local bankers back then would have been shunned if they had conducted business the way places like Bank of AmeriFraud does business now.

    We should take our business to the local banks and credit unions. If you are in business where you entertain bankers, shun the representatives from the big banks that are the source of the current fraud.

    Educate those around you that the current problem is NOT caused by the ‘deadbeats who should not have gotten loans’. That is the bankster’s propaganda.

    Take your business elsewhere and discontinue contact with the representatives from the fraudsters. If their employees want jobs elsewhere, and you believe they can act ethically if not involved with the fraudsters, then help them find other jobs.

    The average teller makes very little and they are not the ones who did the dirty deeds. If they need help finding other jobs, help them if you can.

    T

  2. David , who is your attorney and is he/she CLE trained in foreclosure defense by, let’s say, April Charney?
    There are a lot of crappy attorneys trying to get into the game….

    … at the expense of naive and unwitting homeowners, who are broke and beaten up already…. hundreds of thousands of them. They are beaten and broke by loan mod scammers and attorneys practicing malpractice.

    Sorry to ask who they are. You should be more up front about their identity.

  3. James M says:

    Have you got the transcript ??

  4. David Siegel says:

    If you have lost your home to US Bank, GMAC/Ally, JP Morgan or Citibank my attorney is anxious to talk to you and help you.

    Contact me ASAP

    • David , who is your attorney and is he/she CLE trained in foreclosure defense by, let’s say, April Charney?
      There are a lot of crappy attorneys trying to get into the game.

    • Herbert Lubitz says:

      I am currently fighting on my own because lawyers here in Nort East PA are not interested in helping us poor slobs that got defrauded. I have three different disclosures on the same home with different amounts, and the servicer wont tell me who the responsible parties are who own my blank note. I have many frauds that I found and ready for court. lubi570@juno.com this is in regards to Homecomings AKA: GMAC at the time of closing.

Leave a Reply