Elizabeth Warren: Government Hasn’t Sufficiently Probed Foreclosure Abuses (VIDEO)

Elizabeth Warren: Government Hasn’t Sufficiently Probed Foreclosure Abuses (VIDEO)

WASHINGTON — A top Obama administration official on Thursday questioned the scope of the state and federal investigations into alleged mortgage abuses and “illegal” foreclosures perpetrated by the nation’s largest mortgage companies, marking the first time a senior White House official publicly broke ranks with the administration over the issue and raising fresh questions about the wisdom of the government’s rush to settle with the firms.

Elizabeth Warren, a senior adviser to President Barack Obama and Treasury Secretary Timothy Geithner, told a congressional panel that government agencies may not have sufficiently investigated claims that borrowers’ homes were illegally seized by banks such as JPMorgan Chase, Bank of America, Wells Fargo, Citigroup and Ally Financial.

“I think there’s a real question about whether there’s been adequate investigation,” said Warren, the temporary custodian of the Bureau of Consumer Financial Protection, a new federal agency charged with protecting borrowers from abusive lenders. Her statement came in response to questions from Rep. Trey Gowdy (R-S.C.), a former federal prosecutor who asked Warren why her agency needed to oversee such abuses when the U.S. Department of Justice is already probing such matters.

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10 Responses to “Elizabeth Warren: Government Hasn’t Sufficiently Probed Foreclosure Abuses (VIDEO)”
  1. Beth A. says:

    FOLLOW-UP — just read this:

    July 16 (Bloomberg) — President Barack Obama has chosen a candidate other than Elizabeth Warren as director of the new Consumer Financial Protection Bureau, according to a person briefed on the matter.

    The president’s choice is a person who already works at the consumer agency, the person said yesterday. Obama may make the nomination as soon as next week

  2. Beth A. says:

    Ms. Warren appears to be a very gentle, polite lady. But – she has courage – more in her little finger than some of these bastards will ever have in their whole body.

    OMG, they will eat her alive – she needs everyone’s help,
    E. Holder ranks up there with the biggest waste of flesh I think I’ve ever seen.

    Pass the word around – she needs us.

  3. talktotennessee says:

    Like Sheila Barr, Ms. Warren will suffer abuse from all who want to control any investigation that would help homeowners. I imagine Congress and the Administration will want to see the end of this and let the banks slither out by paying pennies to investors. I applaud her efforts though. She needs to hear from all of us in support of her efforts to investigate the mega banks who are busy with damage control, shutting down all the leaks in the dyke as quickly as they can. Keep the pressure on. Write Ms. Warren and tell her you are on her side. Put it on a petition website to support her efforts. There are several. Word it carefully as the pollsters often do to elicit sympathy for those who were brutally used and abused in his mess. The more publicity we can generate the bigger the problem for the cat to cover, if you know what I mean:)

  4. Jason Werner says:

    “If it’s illegal, why isn’t Eric Holder doing his job.” WOW

    Congressman: “You were criticized for referring people for criminal prosecution??”

    Congressman: By whom?

    Witness: Oh s**t.

    • Anonymous says:

      Holder is hot on the case of Murdoch from FOX news, and those little guys that sell a bag of pot.

      But he won’t touch the banksters, regardless of the size and magnitude of their criminal enterprise !!!

      Holder is laughable.

      • lvent says:

        Holder said we are a nation of cowards. He should speak for himself and his cronies who are truly the cowards because they are corrupt, useless, treasonist traitors who are not working for justice for the American people in any way, just ignoring us and hoping we will all just die..

  5. Anonymous says:

    Does anyone have an e mail address or physical mailing address for Ms. Warren? I have plenty of paperwork she can use to prove her point !!

  6. judge allslop says:

    Miss Warren is entirely too polite. Explain to this fine Gentlemen the specifics of illegal and fraud,he has obviously been hanging with Eric Holder doing more important things.

  7. sandy Jolley says:

    When government agencies approve the foreclosure such as HUD, FHA, etc. they should first assess the validity of the foreclosure and contact the homeowner to ascertain if the default is valid. Government agencies should not just assume the lenders story is valid or accurate given the massive fraud in the banking and lending institutions. If the individual committed such fraud we would all be in prision.

    • lvent says:

      Right on!! Judges assumptions that the entity that brings a fraudclosure is indeed who owns the loan is dangerous. So many people are blind to this as 2.5 million homeowners who have already lost their homes proves the people are not fighting back because they do not know better. I agree with attorney Stone from last weeks podcast, get your case out of foreclosure court. These judges in the Foreclosure Court appear to be debt collectors working for the GSE’s, THE BANKS who are the PONZI SCHEME perps of the NEW WORLD ORDER,AK/A the ONE WORLD GLOBAL GOVERNANCE TYRANNY and not gate keepers of our Consltitutional or Legal rights. they have infiltrated. Get your home out of there or try and prevent it from ever going there.

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