Bloomberg | U.S. Must ‘Stop Punishing Banks,’ Halt Putback Claims, FBR’s Miller Says

“If we are to get the housing market working again, it’s our opinion that the FHFA and the government-sponsored enterprises need to stop punishing banks for their lending practices from several years ago, even though they may have a legal right to do so,” Miller wrote.

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U.S. Must ‘Stop Punishing Banks,’ Halt Putback Claims, FBR’s Miller Says

U.S. government-backed firms and agencies should “stop punishing banks” and suspend demands for mortgage repurchases because they are impeding an economic recovery, according to Paul Miller of FBR Capital Markets & Co.

Repurchase losses may total $121 billion, wrote Miller, a former federal bank examiner, in an analyst’s note to clients dated today. He previously said the tally might range from $54 billion to $106 billion. Losses for Bank of America Corp. (BAC) could reach $66 billion in some scenarios, he wrote.

Fannie Mae, Freddie Mac, the Federal Housing Authority and the Federal Housing Finance Authority “are acting in their own self-interest as opposed to that of the broader U.S. economy,” Miller wrote. Their claims “drain capital from the banking system, and they cause banks to overly tighten credit standards, which pushes potential home buyers onto the sidelines.”

Check out the rest here…

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4closureFraud.org

Comments
22 Responses to “Bloomberg | U.S. Must ‘Stop Punishing Banks,’ Halt Putback Claims, FBR’s Miller Says”
  1. This Tom Miller proves to me some people do have sawdust for brains…….He needs to understand what he has done and what the people wanted done…are 2 different issues……we wanted actions on the criminal frauds in all the foreclosures…not a kissing match with the AG’s and the banksters….We are fighting the stealing of the homes…all done with fraud…the banks did not lend any money…so they have no say and no rights to foreclose….is that so hard to understand Tom Miller? Does this brain dead guy think that the frauds and stealing of millions of homes is a small matter compared to the housing issue? Who sent you to get the housing market working again…Tom Miller? What good is a housing market if millions have lost everything through no fault of their own…lost everything.. done with many crimes that have never seen handcuffs….That housing market is for the foreigners..not Americans who have been victims….it’s the victims you and all the AG’s were to work for….not the bastard criminals to just contimue on with their fraudulent crimes….. Do your job as Attorney’s General or get the hell out of office…you and the rest are a disgrace and disgusting mess of failures…..sounds like the AG’s have aided and abetted with the criminal…..

  2. Miller is admitting the lenders deserve this by law. WOW! What sinister balls to claim like the devils advocate! But fear ye! The earth will come falling down and tumble into dust, if you stop these sinister bankers! Recovery will never come under their crimes. If were an investor, I would retire with my money instead of losing it to the banksters. Or find better investments I could [“TRUST”]

  3. EXC– USE ME!? MILLER IS ACTING IN THE BANKS OWNSELF INTEREST. We should forgive the crooks and their souless deeds, after all it was a few years ago. However we are still illegally foreclosing , filing fraudulant affidavits, claiming standing and interest of loans we do not own to date, but the problem was discovered a few years ago. The ecnonomy wont improve until the borrowers, the investors and the public can trust their government to do the right thing, to protect the consumers, and trust the banks that are left after the evil doers are in jail and brought to justice, there will be no economy. The past few years have brought devistation to our economy by the evil doers getting away with their crimes. There is no public trust earned. We are not stupid and we are AWAKE! This is a cry from a worried man and he should be worried if justice prevails. Crime has not proven to be beneficial to our economy. These crooks have taken a decade to destroy the American economy. I believe they got away with this crime in the 1940’s and the 1980’s because we did not have the internet communications we have now. So many people have been devastated and ruined by these banksters for a long time. Dating back to the 1990’s they say. I will bet it dates back to the 1940’s and possible farther.

  4. MILLER IS FULL OF RECTAL MATTER!

    Proof of massive bankers’ fraud. Originators all buried?Posted by Rob Harrington on September 4, 2011 at 10:00am
    View Blog
    .PROOF THAT POTENTIALLY MILLIONS OF LOANS BETWEEN 2003 – 2007, WERE FRAUDULENT – BY THE BANKERS!??
    FHFA (and OFHEO) Legal Filings
    http://www.fhfa.gov/Default.aspx?Page=110
    FEDERAL HOUSING FINANCE AGENCY

    FHFA Filings in PLS Cases, September 2, 2011:

    Ally Financial Inc. f/k/a GMAC, LLC
    2. The Originators of the Underlying Mortgage Loans Systematically
    Disregarded Their Underwriting Guidelines ………………………………………..41
    a. Government and Private Investigations Confirm That the
    Originators of the Loans in the Securitizations
    Systematically Failed to Adhere to Their Underwriting
    Guidelines………………………………………………………………………………42
    i. New Century Violated Its Underwriting Guidelines……….43
    ii. HFN Violated Its Underwriting Guidelines……………………46
    iii. MLN Violated Its Underwriting Guidelines…………………..48
    b. The Collapse of the Certificates’ Credit Ratings Further
    Shows that the Mortgage Loans were not Originated in
    Adherence to the Stated Underwriting Guidelines …………………….49
    c. The Surge in Mortgage Delinquency and Default Further
    Demonstrates that the Mortgage Loans were not Originated
    in Adherence to the Stated Underwriting Guidelines…………………50

    Bank of America Corporation
    B. The Originators of the Underlying Mortgage Loans Systematically
    Disregarded Their Underwriting Guidelines …………………………………………………45
    1. Government Investigations and Private Litigants Have Confirmed
    That the Originators of the Loans in the Securitizations
    Systematically Failed to Adhere to Their Underwriting Guidelines ………45
    2. The Collapse of the Certificates’ Credit Ratings Further Indicates
    that the Mortgage Loans Were Not Originated in Adherence to the
    Stated Underwriting Guidelines ………………………………………………………..51
    3. The Surge in Mortgage Delinquency and Default Further
    Demonstrates that the Mortgage Loans Were Not Originated in
    Adherence to the Stated Underwriting Guidelines ………………………………53

    Barclays Bank PLC
    B. The Originators of the Underlying Mortgage Loans Systematically
    Disregarded Their Underwriting Guidelines …………………………………………………32
    1. Government Investigations Have Confirmed That the Originators
    of the Loans in the Securitizations Systematically Failed to Adhere
    to Their Underwriting Guidelines ……………………………………………………..33
    2. The Collapse of the Certificates’ Credit Ratings Further Indicates
    that the Mortgage Loans were not Originated in Adherence to the
    Stated Underwriting Guidelines. ……………………………………………………….37
    3. The Surge in Mortgage Delinquency and Default Further Indicates
    that the Mortgage Loans Were Not Originated in Adherence to the
    Stated Underwriting Guidelines ………………………………………………………..38

    Citigroup, Inc.
    B. The Originators Of The Underlying Mortgage Loans Systematically
    Disregarded Their Underwriting Guidelines …………………………………………………45
    1. Government Investigations Have Confirmed That The Originators
    Of The Loans In The Securitizations Systematically Failed To
    Adhere To Their Underwriting Guidelines …………………………………………45
    i. Wells Fargo …………………………………………………………………………46
    ii. Countrywide ………………………………………………………………………..49
    iii. American Home …………………………………………………………………..50
    iv. Argent ………………………………………………………………………………..52
    v. WMC………………………………………………………………………………….54
    vi. Inflated Appraisals ……………………………………………………………….55
    2. The Collapse Of The Certificates’ Credit Ratings Further Indicates
    That The Mortgage Loans Were Not Originated In Adherence To
    The Stated Underwriting Guidelines …………………………………………………56

    Countrywide Financial Corporation
    B. Countrywide Systematically Disregarded Its Underwriting Guidelines …………….69
    1. Government Investigations Have Confirmed That Countrywide
    Routinely Failed to Adhere to Its Underwriting Guidelines ………………….70
    a. Investigations and Actions of Federal Authorities …………………….70
    b. Admissions in Countrywide’s Internal Reporting and
    Emails ………………………………………………………………………………..75
    c. Deposition Testimony of Countrywide’s Top Executives ………….78
    2. Actions Brought by State Enforcement Authorities and Private
    Litigants Have Corroborated that Countrywide Systematically
    Failed to Adhere to Its Underwriting Guidelines …………………………………81

    Credit Suisse Holdings (USA), Inc.
    B. The Originators of the Underlying Mortgage Loans Systematically
    Disregarded Their Underwriting Guidelines …………………………………………………52
    1. A Forensic Review of Loan Files Has Revealed Pervasive Failure
    to Adhere to Underwriting Guidelines ……………………………………………….53
    (a) Stated Income Was Not Reasonable ……………………………………….55
    (b) Evidence of Occupancy Misrepresentations …………………………….57
    (c) Debts Incorrectly Calculated ………………………………………………….58
    (d) Credit Inquiries That Indicated Misrepresentation of Debt ………..59
    2. Government Investigations and Other Evidence Have Confirmed
    That the Originators of the Loans in the Securitizations
    Systematically Failed to Adhere to Their Underwriting Guidelines ………61

    Deutsche Bank AG
    B. The Originators of the Underlying Mortgage Loans Systematically
    Disregarded Their Underwriting Guidelines …………………………………………………45
    1. Government Investigations Have Confirmed That the Originators
    of the Loans in the Securitizations Systematically Failed to Adhere
    to Their Underwriting Guidelines ……………………………………………………..45
    2. The Collapse of the Certificates’ Credit Ratings Further Indicates
    that the Mortgage Loans were not Originated in Adherence to the
    Stated Underwriting Guidelines ………………………………………………………..54
    3. The Surge in Mortgage Delinquency and Default Further
    Demonstrates that the Mortgage Loans Were Not Originated in
    Adherence to the Stated Underwriting Guidelines ………………………………56

    First Horizon National Corporation
    B. The Originators of the Underlying Mortgage Loans Systematically
    Disregarded Their Underwriting Guidelines …………………………………………………46
    1. First Horizon Home Loan Failed to Adhere to Its Underwriting
    Guidelines ……………………………………………………………………………………..46
    2. The Collapse of the Certificates’ Credit Ratings Further Indicates
    that the Mortgage Loans Were Not Originated in Adherence to the
    Stated Underwriting Guidelines ………………………………………………………..48
    3. The Surge in Mortgage Delinquencies and Defaults Further
    Indicates that the Mortgage Loans Were Not Originated in
    Adherence to the Stated Underwriting Guidelines ………………………………50

    General Electric Company
    6. Falsity Of Statements In The Registration Statements And
    Prospectus Supplements…………………………………………………………………..26
    a. The Statistical Data Provided in the Prospectus
    Supplements Concerning Owner-Occupancy and Loan-To-
    Value Ratios Was Materially False…………………………………………26
    b. Owner-Occupancy Data Was Materially False…………………………26
    c. Loan-to-Value Data Was Materially False ………………………………28
    d. The Originators of the Underlying Mortgage Loans
    Systematically Disregarded Their Underwriting Guidelines………31
    e. Government and Private Investigations Confirm That the
    Originator of the Loans in the Securitizations
    Systematically Failed to Adhere to Its Underwriting
    Guidelines …………………………………………………………………………..31

    Goldman Sachs & Co.
    B. The Originators of the Underlying Mortgage Loans Systematically
    Disregarded Their Underwriting Guidelines …………………………………………………54
    1. Government Investigations Have Confirmed That the Originators
    of the Loans in the Securitizations Systematically Failed to Adhere
    to Their Underwriting Guidelines ……………………………………………………..55
    2. The Collapse of the GSE Certificates’ Credit Ratings Further
    Indicates that the Mortgage Loans Were not Originated in
    Adherence to the Stated Underwriting Guidelines ………………………………64
    3. The Surge in Mortgage Delinquencies and Defaults Further
    Demonstrates that the Mortgage Loans Were Not Originated in
    Adherence to the Stated Underwriting Guidelines ………………………………66

    HSBC North America Holdings, Inc.
    B. The Originators of the Underlying Mortgage Loans Systematically
    Disregarded Their Underwriting Guidelines …………………………………………………38
    1. Government Investigations Have Confirmed That the Originators
    of the Loans in the Securitizations Systematically Failed to Adhere
    to Their Underwriting Guidelines ……………………………………………………..39
    2. The Collapse of the Certificates’ Credit Ratings Further Indicates
    That the Mortgage Loans Were Not Originated in Adherence to the
    Stated Underwriting Guidelines ………………………………………………………..46
    3. The Surge in Mortgage Delinquency and Default Further
    Demonstrates That the Mortgage Loans Were Not Originated in
    Adherence to the Stated Underwriting Guidelines ………………………………48

    JPMorgan Chase & Co.
    B. The Originators of the Underlying Mortgage Loans Systematically
    Disregarded Their Underwriting Guidelines ……………………………………………….134
    1. Government Investigations and Private Actions Have Confirmed
    That the Originators of the Loans in the Securitizations
    Systematically Failed to Adhere to Their Underwriting Guidelines …….135
    iv
    2. The Collapse of the Certificates’ Credit Ratings Further Indicates
    that the Mortgage Loans Were Not Originated in Adherence to the
    Stated Underwriting Guidelines ………………………………………………………142
    3. The Surge in Mortgage Delinquency and Default Further
    Demonstrates that the Mortgage Loans Were Not Originated in
    Adherence to the Stated Underwriting Guidelines …………………………….146

    Merrill Lynch & Co. / First Franklin Financial Corp.
    B. The Originators of the Underlying Mortgage Loans Systematically
    Disregarded Their Underwriting Guidelines …………………………………………………66
    1. Government Investigations Have Confirmed That the Originators
    of the Loans in the Securitizations Systematically Failed to Adhere
    to Their Underwriting Guidelines ……………………………………………………..67
    2. The Collapse of the Certificates’ Credit Ratings Further Indicates
    that the Mortgage Loans were not Originated in Adherence to the
    Stated Underwriting Guidelines ………………………………………………………..74
    3. The Surge in Mortgage Delinquency and Default Further
    Demonstrates that the Mortgage Loans Were Not Originated in
    Adherence to the Stated Underwriting Guidelines ………………………………77

    Morgan Stanley
    2. The Originators of the Underlying Mortgage Loans Systematically
    Disregarded Their Underwriting Guidelines ………………………………………44
    a. Government and Private Investigations Confirm That the
    Originators of the Loans in the Securitizations
    Systematically Failed to Adhere to Their Underwriting
    Guidelines …………………………………………………………………………..45
    i. New Century Violated Its Underwriting Guidelines ………46
    ii. WMC Violated Its Underwriting Guidelines…………………49
    iii. IndyMac Violated Its Underwriting Guidelines …………….50
    iv. Wilmington Violated Its Underwriting Guidelines…………51
    b. The Collapse of the Certificates’ Credit Ratings Further
    Shows that the Mortgage Loans were not Originated in
    Adherence to the Stated Underwriting Guidelines ……………………52
    c. The Surge in Mortgage Delinquency and Default Further
    Demonstrates that the Mortgage Loans Were Not
    iii
    Originated in Adherence to the Stated Underwriting
    Guidelines …………………………………………………………………………..54

    Nomura Holding America Inc.
    B. The Originators of the Underlying Mortgage Loans Systematically
    Disregarded Their Underwriting Guidelines …………………………………………………38
    1. Investigations Have Confirmed That the Originators of the Loans
    in the Securitizations Systematically Failed to Adhere to Their
    Underwriting Guidelines ………………………………………………………………….38
    2. The Collapse of the Certificates’ Credit Ratings Further Indicates
    that the Mortgage Loans Were Not Originated in Adherence to the
    Stated Underwriting Guidelines ………………………………………………………..43
    3. The Surge in Mortgage Delinquency and Default Further
    Demonstrates that the Mortgage Loans Were Not Originated in
    Adherence to the Stated Underwriting Guidelines ………………………………45

    The Royal Bank of Scotland Group PLC
    Generally the same allegations as uniformally described above regarding the Originators’ systematic disregard for their own underwriting guidelines.

    Société Générale
    Generally the same allegations as uniformally described above regarding the Originators’ systematic disregard for their own underwriting guidelines.

  5. Tim Bryant says:

    When banks stop punishing borrowers and investors, we’ll talk.

  6. Tim Bryant says:

    Typical WS BS. Crimes should not be prosecuted because it will interfere with the recovery.

    • LOL…And these AG’s are suppose to be Chief Law Enforcer of their state???? Do they even know that ? I see this whole issue as…. 50 common people could have done what was needed to be done…in less time….with results…backed by millions of people…..this was nothing but another sham…pretenders to fool the people…BUT THEY HAVEN”T.

  7. Jim Bethea says:

    I just visited another site pouting off Miller’s help the banks BS ~~ will slow the economy ~~ will put the US in ruins ~~ horse manure ~~

    It is the people that put THEIR OWN MONEY in these banks and the crooks decide that it is more profit in pretending to lend the bank’s money when in fact the banks lend nothing of their own ~ but they receive must in return ~ lol

    Just one quick question and I will scram ~~~ PLEASE TELL ME JUST ONE REAL BENEFIT THAT THESE BIG BANKS THEY ARE NOW BEING EXPOSED FOR THEIR FRAUDULENT SCHEMES HAVE DONE FOR YOU PERSONALLY IN SINCE THE 2008 BAILOUT BILLIONS THEY RECEIVED ?????

    IF YOU HAD A PROBLEM WITH THAT PARTICULAR QUESTION THEN ~ TELL ME JUST ONE THING THAT YOU THINK THEY HAVE DONE SINCE 2008 THAT HAS BENEFITTED THE ECONOMY?????

  8. Bryan says:

    I would love to see them all rounded up, take all of the items and money they have stolen while they raped and screwed all of us from them. Then put them all in a real jail. Not a federal vacation prison.

  9. talktotennessee says:

    Gosh, the industry just keeps buying regulators, examiners, etc! That has to tell people something! How about criminal charges, that would be cheaper for the banks, right? They could let a few CEOs, CFOs fall on their sword. Drag Mozillo out of hiding in his mansion and force him to take the fall.

    This type of commentary by a bank examiner really rankles me BIGTIME!
    All the time the CEOs of the big banks were lolling around their mansions and pools, collecting their bonuses in the millions even after using taxpayer money, flying into Washington on their Corporate jets. They were stealing from the poor and padding their pockets with their illgotten gains until it popped the market and caused a global crisis. Now this loud mouthed lackey wants investors to look the other way and government agencies who were duped by highly rated (paid rating agencies) investment products, even betting against their success by the financial industry who knew they would fail!

    GIVE ME A BREAK BUDDY!.
    People like this guy are part of the problem! He needs an attitude adjustment, a letter campaign etc!
    Is it time for revolt against the banking industry? YES
    No sympathy in this quarter! They spent the money, our money and never looked back. No amnesty, no forgiveness. Did they give us any? NO, NO, NO!
    I had to sue these crooks for modification and they still resist doing the right thing!

  10. Jim Bethea says:

    I get so damn tired of the Elistist puppet men talking about how bad the fraudulent and crooked banking cartels are having it now that more and more of their fraud is being exposed ~ So what if it costs them money; the money and profits they stold from the US public ~~~ They should be losing their banking license and the ones at the top of the schemes and scams heading of to Federal Prisons for many years ~~~~

    If you want to talk about loses ~ Let’s talk about the little ole lady that lived in her same little house for over 30 years and had to re-fi to make ends meet after her hubby died or Wall Street stold her pension/ retirment monies ~

    Let’s talk about he ones that could not take anymore collection threats and harassments from these evil crooked basters that comprise the exec levels of these banking cartels, and chose suicide as a end to their horrors ~~

    Let’s talk about the little business owners who losts to the banksters and stiffled by the European owned Federal Reserve and European owned IRS [ these 2 illegal cartels HAVE TO GO BACK TO THE QUEEN & THE ROTHSCHILDS]

    So as you can see, I don’t have much compassion for this illegal bankster cartel which makes the Mafia look like a bunch of choir boys ~

    An un-named consortium of bankster elistist just donated over $700 million to the Obama campaign ~~ since they raised him from college to the White House, I guess they just want to protect their investment ~ And with his wife Michele sitting on the board at the secretive elistist panel of the Council on Foreign Relations, I am sure they are going to continue to help fight for the bankster global control over money and power ~

    No I want to hear on the news EVERYDAY of how the banksters have screwed America and continue to do so free from Federal Law Enforcement ~~ I want to hear from the average little people who are being thrown onto the streets everyday as a product of illegal and unethical foreclosures ~~

    I care not about hearing how bad the banks are having it these days ~ let them file bankruptcy like legal businesses that have an insolvable financial problem ~ But what I am hearing is a startup rumbling that is coming from the White House on how we need to print more money to save the economy????

    And for the Social Security money ~~ there is no more there in some magical account that DC wants the people to believe ~~ it all goes to the Queen and the Vatican as a gift ~ this can be proven to anyone in the Federal Codes and Statutes at Large ~~~

    Everyone that has been a victim from these crooked banksters should be paid back – plus interest – plus damages PURSUANT TO A ONE ON ONE CASE ~ not by these cartels grouping all of their fraud into one SETTLEMENT PAYMENT [which they will be paid in the end by their customers/investors] to the US Attorney General’s Office for them to give back to these crooked banksters that put them in office in the 1st place ~~

    • JIM…..BRAVO !!!!!!! GREAT COMMENT….HIT IT RIGHT ON. You have helped make my day…I have repeated so many times of the Queen (British) and our Social Security….that has fried me..actually sends my anger almost beyond control….right along with the IRS and the Fedeeral Reserve….these rat scums right along with the Vatican and the Queen calling it debts we owe to them….we owe them not a damn thing for any debt..period.
      I do not believe and cannot be convienced that any of these scumbags of banksters have ever paid any fines….that was the rotten media spilling false facts…only they forgot to mention the cartel banksters were and are the veins that carry the contaminated blood that has given life to the Vatican and has fed it with stealing from the people to take this country to ruins….using the Hitler Plan. If the control of this government has been in the shadows ruling the roost….there is no way any fines were actually paid…The people did not see one cent of any money paid in fines..and we won’t…not until we all revolt…cause there were no fines paid…..they are all in the same ‘ club ‘….NO FINES AND NO PRISON…..

  11. lvent says:

    Cry me a river…What is their alternative suggestion? No doubt it is to just allow the banks to keep on robbing the American people of everything for themselves and their criminal owners….just allow all of these criminals to party on with their evill plans for a NEW WORLD ORDER, ONE WORLD GLOBAL FASCIST TYRANNY……..by trying to bankrupt America and steal the homes and other property from the people they do not own….. William Cohen author of the best selling book House Of Cards told CNBC on Friday that the banks should not be crying, they are lucky they are not being criminally prosecuted. CNBC anchors said that the Big Banks are raining cats and dogs of mortgage fraud and are a bad investment……Even Kramer who is usually not my favorite said some of the CEO’s should be gone after criminally….but not Chase CEO J Dimon…Yeah right!…..I know the banksters are being punished for carrying out the orders of their owners..the ruling elite….but someone needs to pay for this and they must all be stopped from stealing the homes and property away from the people…

    • I vent……Anyone who carries out orders of any crime…no matter where the orders come from…is guilty of the crime….they did the crime…the owners gave the orders….and told the banksters to do it….so the owners are using this method of stealing from the people to gain control of the world…to make it look like the banks are guilty if caught…all while they hide in Rome or wherever… thinking no one would ever surmise who the culprits really are…….BUT the banks still followed the orders to do this crime….I am not saying that Rome and their extentions… is not guilty by all means..I just don’t know laws that go this deep..but top surface… the banks did the frauds…The way i see how this whole massive mess can only be handled is with charges and handcuffs….but at this point…..this country has no DOJ…..if so, where? So who is there to put the handcuffs on their wrists? The DOJ certainly has not been with the people…their silence has proven something and that has not been good either. I agree…someone needs to pay and not with fines and a kiss…BUT stopping this crime is left up to the people…otherwise something would have been done before now…..what has been done is all a stall tactic…the take over is in the background…in the shadows.. .

      • lvent says:

        Marilyn, I said Wall Streets crimes are equal to their owners..There is plenty of blame to go around including in the U.S. Government….There are many who should be criminally indicted for all of this..

    • I vent…I think we will have to build more prison’s to house all these criminals…that will bring more jobs…and hire more prison guards…maybe those who have lost everything to guard these bastards…in the mean time, they can all be put into fema camps to hold till their ‘ homes ‘ are ready….

  12. housemanrob says:

    Save the banksters…..and save the economy. Saving the homeowner instead of the banks…..why would that help the economy? The whole world is turning upsife down people. t he rich and corporations get richer and the middle clasw is disappearing while the poor just suffer! Let’s get it right! The people, commen men, come first!!

  13. CaitlinO says:

    If the fraudulently made loans are not put back by Fannie/Freddie, you, I and other taxpayers will be forced to eat the losses. The banks knew what the Fannie/Freddie underwriting standards were and violated them. Per their contracts, the banks are required to purchase back loans in violation of the standards. Why is it that contracts even predatory mortgage contracts, should be honored when they screw the little people but not when they have been violated by the banksters?

    There is either rule of law or there isn’t. It really is that simple.,

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