Wall Street is Split Over the Bank Fraudclosure Deal

Wall Street is Split Over the Bank Foreclosure Deal

Wall Street’s biggest lobbying group is split over a proposed settlement of state and federal foreclosure probes, after a committee of money managers signaled it opposes terms letting banks push some costs onto bondholders.

The Securities Industry and Financial Markets Association’s Asset Management Group planned to release a statement last week urging government negotiators to protect innocent investors, amid reports that banks will get credit for lowering the balances of mortgages packaged into bonds, three people familiar with the matter said. Sifma’s leadership said no. The panel’s members oversee $20 trillion and include BlackRock (BLK) Inc. and Pacific Investment Management Co.

Sifma elected not to issue the statement “because the settlement surrounds potential legal issues involving the commercial interests of many of our members,” said Cheryl Crispen, a spokeswoman for the group in New York. “Sifma generally does not intervene in such matters and remains focused on matters of policy and advocacy.”

The rift within Sifma follows investor advocates’ complaints that bondholder interests are often trumped by those of the biggest banks when government officials act to address the fallout from the U.S. housing slump. Language similar to the planned statement was included in a Jan. 31 release by the Association of Mortgage Investors, a smaller trade group for bondholders that unlike Sifma doesn’t also lobby on behalf of firms that issue, underwrite, service and trade debt.

Rest here…

Copy of their letter below…

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4closureFraud.org

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The Association of Mortgage Investors Cautions State Attorneys General:
Don’t Rush a Settlement; Get It Right

Comments
18 Responses to “Wall Street is Split Over the Bank Fraudclosure Deal”
  1. talktotennessee says:

    Investor groups will fiddle while the ship sinks! Don’t they see the lenders are selling them out anyway! When houses are foreclosed, the banks make the money on fees along with foreclosure mills. They charge it back to the trust or investors anyway. Principal has to be written off and lost. These same investors won’t write down 70 or 80 cents on the dollar principal for a homeowner but rather be stuck with 50 cents on the dollar in a foreclosure? Makes no sense to me! So investors will go down with the ship rather than cut their losses and run.
    What else is new! Don’t they see the market is already down across the board by 20-30-40% in places. This is a long term deal that isn’t going to end soon. Sure you see pockets of recovery in high end properties or desirable neighborhoods but the majority of defaulting loans aren’t occurring there are they?
    Insane, greed of the market and pie in the sky profits are gone but investors and banks want to slam the gate after the cash cow has faded into the sunset!
    Dumb!

    • lvent says:

      When the banks illegally and fraudulently foreclose it is the bankers, the politicians and the lawyers who are getting rich and that can only be possible via corrupt judges who are all using what the people do not know against them..to steal homes that they have no legal or Constitutional right to take…and the moneyed elite are getting what they want via their perps…poverty for the people…and our NATIONAL SOVEREIGNTY…ONE WALL STREET, GSE, BANKSTER DEBT IMPOSITION VICTIM… AT A TIME….SLOW, PAINFUL, DEHABILITATING ROBBERY AND DESTRUCTION OF AMERICA….AND THE FED IS AIDING AND ABETTING THIS HORROR SHOW VIA CONGRESS AND TGE SENATE…..THIS IS ALL BEING DONE VIA SNEAKY CLASS WARFARE TACTICS UNDER THE RADAR OF MOST AMERICANS WHO ARE STILL BELIEVING THE BIG LIES THAT PEOPLE BOUGHT HOMES THEY COULD NOT AFFORD AND AMERICA IS BROKE….AND SHE SOON.WILL BE BROKE AND NO LONGER A FREE AND SOVEREIGN NATION…..AS LONG AS THE PEOPLE CONTINUE TO BELIEVE THE BIG MANUFACTURED LIES !!!! ELIOT SPITZER FOR PRESIDENT 2012….!! THROW THE TRAITORS IN CONGRESS, THE SENATE AND THE FED OUT..! CONGRESS MUST ISSUE OUR OWN CURRENCY…U.S. BANK NOTES BACKED BY OUR OWN NATURAL RESOURCE REVENUES..OPEN STATE BANKS THEN NATIONAL SOVEREIGNTY WILL PREVAIL!!!!

  2. Fury says:

    the banks are bloodsuckers. there is no question about it.

  3. lvent says:

    $1.2 QUADRILLION IN DERIVATIVES DEBT FRAUD IS APPROXIMATELY WHAT THESE WALL STREET CROOKS AND THE GSE’S CREATED OUT OF THIN AIR….NO COLLATERAL BACKS THEIR MASSIVE DEBT FRAUD…! Stop the robbery of America for the UNSUSTAINABLE DEBTS OF THESE CROOKS..THEIR DEBT CAN NAVER BE REPAID!!! STOP PAYING…CONFORMING AND COMPLYING WITH ALL OF THEIR FAKE FIXES FIR MASSIVE UNSUSTAINABLE DEBT FRAUD!!!! ABOLISH THE FED…..THE MARK OF THE BEAST….! DEMAND OUR OWN CURRENCY…U.S. BANK NOTES BACKED BY OUR OWN NATURAL RESOURCE REVENUES…..!!!! ELIOT SPITZER 2012…!….HISTORY CHANNEL SSYS..TGE SAME THING THAT HAPPENED TO NEBECHNEZAR….HAPPENED TO SUDDAM HUSSEIN…!!! SEE THE HISTORY CHANNELS PROGRAMS ENTITLED…PROPHECIES OF ISRAEL AND PROPHECIES OF IRAQ……!!!! BEWARE THE FED….THE FIXES FOR FRAUD….THEY ARE TRYING TO USHER IN THE MICROCHIP IN THE HAND TI OWN YOU…..!!! REJECT THEIR FIXES FOR FRAUD!!!!…GOD SAID….BE MORAL…BE RIGHTEOUS!!!!! SEE THE LINK TO THE TRUTH ABOUT THE DEBT OF WALL STREETS MASSIVE, UNSUSTAINABLE DEBT FRAUD…..BORN OF MASSIVE FRAUD, LIES AND DECEPTIONS….!!!! FROM DAILY FINANCE ENTITLED….BIG RISK: $1.2 QUADRILLION DERIVATIVES MARKET DWARFS WORLD GDP…. http://www.dailyfinance.com/2010/06/09/risk-quadrillion-derivatives-market-gdp/

    • lvent says:

      Please see the link from living lies entitled…WHY SECURITIZATION IS ILLEGAL UNDER U.S. COMMON LAW……IT IS A MUST READ FOR ALL….!… http://livinglies.wordpress.com/2010/03/15/why-securitisation-is-illegal-under-u-s-common-law

      • lvent says:

        Oh, Hells Bells!…..let me try one more time…If the link does not work this time just GOOLGLE the words..why securitiZation is illegal under U.S. common law..Ilook for the link to living lies and this post..
        http://livinglies.wordpress.com/2010/03/15/why-securitisation-is-illegal-under-u-s-and-common-law/

      • lvent says:

        Thank God..the link works…! I also found another startling FACT out last nite while surfing the web, that nullifies the mortgage contracts: THE ASSIGNOR OF THE MORTGAGE…IF THERE IS A MANUFACTURED ASSIGMENT……MOST LIKELY DOES _NOT_HAVE A SECURTIES BROKERS LICENSE!! THESE ROBOSIGNING CROOKS MUST BE STOPPED….! AND I MEAN THE OWNERS…NOT THE TEN BUCK AN HOUR EMPLOYEES…THESE ORDERS TO MANUFACTURE FRAUDULENT DOCS… COME FROM THE TOP OF THE FRAUD CHAIN!!!

      • lvent says:

        Please pardon my goof ups today..I am a bit tired!…these spawns of Satan we are all fighting..never sleep!

      • lvent says:

        The title of the movie WALL STREET: MONEY NEVER SLEEPS..IS TRUE…MONEY…IS THEIR MEANS OF DECEPTION… THE COVER UP FOR THE MASSIVE DERIVATIVES FRAUD OF THESE MONEYED ELITE OWNED CRIMINALS…VIA LIES, DECEIT ..AND ALL OF THEIR ATTEMPTS TO CONF– USE AND CA– USE CHAOS…NEVER SLEEPS!! THIS IS A MASSIVE CONSPIRACY…THE MASSIVE SCOPE OF THIS MONEYED ELITE HITLER PLAN… IS OF A SIZE SO GIGANTIC, MONOLITIC IN FACT ( as J.F.K WARNED IN HIS SPEECH WARNING ALL OF US OF THE REPUGNANCE OF SECRETS AND SECRET SOCIETIES IN A FREE AND OPEN SOCIETY!)…THE LIKES THE SIZE OF WHICH… NO ONE HAS EVER SEEN IN HISTORY…IT THREATENS EVERY MAN, WOMAN AND CHILD..FREEDOM AND DEMOCRACY…AND OUR NATIONAL SOVEREIGNTY…!!!

      • lvent says:

        Please listen to the brave words of our last Great President JFK..warning us about SECRET SOCIETIES…in this you tube video..

      • lvent says:

        THE FED MUST BE ABOLISHED…!!! THE MONEY CHANGERS!!!…THE LOW INTEREST RATES FOR THE BANKS..FED MONETARY POLICY WILL BANKRUPT AMERICA AND USHER IN THE MARK OF THE BEAST..THE MICROCHIP IN THE HAND…THE VATICAN/ROTHSCHILD GOLD STANDARD BACKED DOLLAR…AND THE END TO ALL SOVEREIGN NATIONS, PRIVATE PROPERTY OWNERSHIP..THERE WILL BE NOTHING GOOD TO COME OF THAT…NOTHING BUT THEIR CREATED INDENTURED SERVITUDE TO THE DEBT OF THEIR PERPS AND GLOBAL POVERTY…BEWARE…THEY ARE TRYING TO START ARMAGEDDON WITH IRAN…OBAMA WARNED..THE ( THESE ARE MY WORDS IN PARENTHESES…THE VATICAN/ROTHSCHILD OWNED) ISRAEL GOVERNMENT MAY STRIKE IRAN WITHOUT WARNING…VLADIMAR PUTIN ALREADY WARNED ANY STRIKE ON IRAN WOULD BE WORLD WAR III…! THROW THE POLITICAL TRAITORS OUT AMERICA…DEMAND OUR OWN CURRENCY ISSUED BY CONGRESS AND BACKED BY OUR NATURAL RESOURCE REVENUES!!! REJECT THEIR ILLEGAL AND UNCONSTITUTIONAL FIXES FOR $1.2 QUADRILLION IN UNSUSTAINABLE DEBT FRAUD COMMITTED BY THE PERPS OF THE MONEYED ELITE ON WALL STREET, THE GSES AND THE BANKS…THE FED IS SNEAKY AND STRATEGICALLY BANKRUPTING AMERICA THROUGH THEIR ILLEGAL AND UNCONSTITUTIONAL MONETARY POLICIES…! CALL CONGRESS…TELL THEM TO DRAW UP AN MANDATE TO ABOLISH THE UNCONSTITUTIONAL AND ILLEGAL FEDERAL RESERVE THEY CREATED…AS BERNANKE TOLD THE TRUTH THE OTHER DAY..CONGRESS CREATED THE FED..AND THEY CAN DRAW UP A MANDATE TO ABOLISH THE FED…..TELL CONGRESS THEY MUST ISSUE OUR OWN CURRENCY…U.S. BANK NOTES… BACKED BY OUR OWN NATURAL RESOURCE REVENUES!!!…THROW THE TRAITORS OUT AMERICA!! ABOLISH THE FED!!

      • lvent says:

        Please watch and share the above posted video with friends and family…J.F.K. tried to get the truth out to the masses via the press and those who knew…but the Good people who knew the truth were to afraid to speak the names above their breath!..CONgress…their minions and cohorts… put us all here! They are the whores and the pimps who whore for the moneyed elite!!

  4. Katheryn says:

    Here is another example of what seems so simple yet I haven’t seen anyone mention this. The TILA Disclosure shows the IR as well as the APR rate. In addition that mandatory disclosure shows the total amount paid over the amoritization period. Mine was 30 years. First, if the loan was sold forward, and we know it was, would render that figure incorrect. Then you compound that with the note being forward sold an number of times and that TILDS showing the total $ paid over the amoritized period a totally bogus figure. Am I missing something here? Just another avenue where the TBTF’s disclosed more bogus information.

  5. lvent says:

    This cabal of crooks and the traitor politicians are destroying America….
    I was watching RON PAUL on Piers Morgan last night……RON PAUL is one of the TRAITORS….a very crafty and DECEPTIVE LIAR! LIBERTARIAN SHAM AND A FRAUD…!
    RON PAUL UTTERED THE 3 WORDS THAT PROVE BEYOND THE SHADOW OF A DOUBT..HE IS A LIAR..RON PAUL SAID,…….AMERICA IS BROKE!!!
    REALLY MR. PAUL?? PLEASE TELL AMERICA HOW IT COULD BE POSSIBLE THAT ONE OF THE WEATHIEST NATIONS ON THE PLANET COULD BE BROKE WHEN ONLY 20% OF MILLIONS OF MORTGAGES WERE SO CALLED LIARS LOANS…HOMES PEOPLE COULD NOT AFFORD????
    THAT WAS NO WHERE NEAR ENOUGH RISK TO COLLAPSE AMERICAS ECONOMY……!!!
    THE STOCK MARKET CRASHED FOR ONE REASON ONLY……TO ROB AMERICAS WEALTH…UNDER THE GUISE OF LIARS LOANS!!!!! BIG LIES!!!!
    THIS WAS ANOTHER MONEYED ELITE HITLER PLAN…TO STEAL EVERYTHING FROM THE PEOPLE INCLUDING OUR COUNTRY.AND THEREFORE OUR FREEDOM..!!!
    THE NEXT PHASE OF THE EVIL PLAN….THEY FULLY INTEND TO .BANKRUPT AMERICA VIA THE FEDERAL RESERVE UNDER THE GUISE OF THE BIG LIES……LIARS LOANS!!!….AND LOAN REFIS….THE RECYCLING AND ROBBERY OF $700 TRILLION DOLLARS IN UNSUSTAINABLE MORTGAGE DEBT FRAUD CREATED BY WALL SRMTREET, TGE BANK, AND THE GSE’S!!!!!
    THAT IS BEING ACCOMPLISHED RIGHT NOW VIA SNEAKY CLASS WARFARE TACTICS ALA NIETSCHE…! VIA THE FEDERAL RESERVES DECEPTIVE, EVIL MONETARY POLICIES….AND CONGRESS AND THE WHITE HO– USE….OBAMA ARE ALL IN ON IT!!!!!
    THE FORCED BANKRUPTCY WILL HAPPEN UNDER THE GUISE OF THOSE BIG LIES..! THEN THEY WILL USHER IN THEIR FIX FOR WHAT THEY WILL CLAIM IS THE FAILURE OF CAPITALISM……WHEN THE MONEYED ELITE…MANUFACTURED THAT FAILURE….! THEY WILL WANT TO “FIX”THAT MANUFACTURED MESS WITH THEIR ONE WORLD CURRENCY….THE VATICAN/JESUIT GOLD BACKED DOLLAR….!!!
    AND THEN NATIONAL SOVEREIGNTY WILL BE A THING OF THE PAST…..!!!
    WE WILL NO LONGER BE FORCED SLAVES TO THE MONEYED ELITE….WE WILL BE FORCED TO BE THEIR INDENTURED SERVANTS….
    .WE WILL OWN NOTHING BUT THE DEBT OF THE $1.2 QUADRILLION IN DERIVATIVES DEBT FRAUD CREATED BY THE PERPS OF THE MONEYED ELITE!!!!!…..WE MUST REJECT ALL OF THEIR EVIL FIXES FOR THEIR FRAUD…!!!!
    ..IT CAN NEVER BE REPAID….!
    ABOLISH THE FED…
    THROW THE TRAITORS IN PRISON…!!!!! BUT FIRST…. MAKE THESE MONEYED ELITE OWNED CRIMINALS PAY THE AMERICAN PEOPLE BACK THEIR TRILLIONS IN STOLEN WEALTH!!!!!
    DEMAND THOSE TRAITORS IN CONGRESS ABOLISH THE FED AND ISSUE U.S. BANK NOTES BACKED BY OUR OWN NATURAL RESOURCE REVENUES…..LIKE NATURAL GAS….ELECTRIC….AND SO ON!…
    ELIOT SPITZER FOR THIRD PARTY CANDIDATE…!!!!…
    HE KNEW WHAT THEY WERE PLANNING AND CAUGHT THEM RED HANDED OVER A DECADE AGO!!!! ELIOT SPITZER FOR PRESIDENT 2012…..NATIONAL SOVEREIGNTY WILL PREVAIL!!!!

    • lvent says:

      PLEASE BEWARE OF THE LIARS, DECEIVERS AND THE MONEY CHANGERS….GOD WARNED! !!! THEY TRIED THE SAME THING MANY TIMES BEFORE….JESUS WARNED….SEE THE HISTORY CHANNELS PROGRAMS ENTITLED: PROPHECIES OF ISRAEL…..PROPHECIES OF IRAQ……! THESE SAME OPPRESSORS NEVER LEFT THE SCENE….THEY WANT TO OWN ALL PEOPLE…WITH THEIR ONE WORLD GOLD BACKED VATICAN/ROTHSCHILD CURRENCY…..AND THEN THEY WILL USHER IN THE MICROCHIP IN THE HAND….THE MARK OF THE BEAST IS THEIR MONEY AND THEIR DEBT BASED MONETARY SYSTEM …..666….THE MARK OF THE BEAST IS THEIR CONTROL OF OUR CURRENCY….!!!!! ABOLISH THE FED….AMERICA MUST ISSUE ITS OWN CURRENCY BACKED BY OUR OWN NATURAL RESOURCE REVENUES…..STATE BANKS…..THROW THE MONEYED ELITE….THE MONEY CHANGERS OUT OF AMERICA….!….MONETIZIED DEBT IS THE MARK OF THE BEADT….666!!!!!!

  6. Fred Amphor says:

    Leeches is right. Stunnig visuals.

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