Barry Ritholtz | Mortgage Settlement Makes “Felony Fraud a Business Expense” (VIDEO)

Feb. 29 (Bloomberg Law) — Barry Ritholtz, CEO for Fusion IQ and founder of The Big Picture blog, talks with Bloomberg Law’s Lee Pacchia about the recently announced settlement between 49 state attorneys general and a number of banks regarding improper foreclosure practices. Ritholtz contends that this settlement represents a choice by the Department of Justice to ignore long-settled property laws.

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4closureFraud.org

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7 Responses to “Barry Ritholtz | Mortgage Settlement Makes “Felony Fraud a Business Expense” (VIDEO)”
  1. macy says:

    If you have been wrongfully/unlawfully foreclosed on- why are people not reporting it to the authorities and have them launch an investigation regarding Grand Theft?

    • Beth A> says:

      Because the “authorities” deem these “civil matters”.

      • macy says:

        please provide proof, link or article to support your comment that they deem them civil matters. I know that the banks and their attorneys do- of course “they” would. but why would the mortgage fraud division of the fbi deem theft of property a civil matter, why would the police department when presented with the facts deem it civil, illegal securitization and forged/fabricated documents submitted as fraud on the public record and court not be considered criminal? something isn’t adding up.

  2. JL says:

    ‘lvent says’ it like it is, and, the thing is from President Obama to the Dept of Justice to the States AG’s they all know this too!

  3. lvent says:

    If you know the truth about what has occurred in America than you know that Mr. Ritholtz is not being a straight shooter…He is dancing around the real truth and he knows damned well that the FEDERAL RESERVE IS INSOLVENT…
    Bloomberg news reported a few days ago THE TRUTH IS… that the WORLD BANK IS IN TROUBLE..and they are who owns the FED…
    THE TRUTH IS..there is NO POSSIBILITY OF EVER rebuilding these insolvent institutions balance sheets…
    I just watched part of Bernankes testimony to the Senate Banking Committee where Bernanke stated that THE U.S ECONOMY has been PERMANANTLY DAMAGED….WE THE PEOPLE ALL KNOW BY WHOM THIS MASSIVE ROBBERY OF THE PEOPLES WEALTH WAS ALLOWED AND CREATED….THESE CROOKS COMMITTED THE BIGGEST FINANCIAL COUP DE TAT OF THE PEOPLES WEALTH AT THE U.S. TREASURY DEPT AND FORT KNOXX IN HISTORY…
    WE THE PEOPLE NOW KNOW THE TRUTH AND WE HAVE THE PROOF THAT THIS MASSIVE PONZI SCHEME SWINDLE AND HEIST OF THE PEOPLES WEALTH AND JOBS AND PROSPERITY WAS CREATED AND ALLOWED BY NONE OTHER THAN THE TRAITOR POLITICIANS…
    THE TRUTH IS THAT THIS MASSIVE ONGOING CRIME SPREE OF THE PEOPLSE WEALTH WAS AN INSIDE JOB…AND IT IS STILL GOING ON UP TO THIS VERY MINUTE….WE THE PEOPLE NOW KNOW THE TRUTH AND WE HAVE THE PROOF THAT…
    THIS MASSIVE FINANCIAL COUP DE TAT OF OUR WEALTH OF THE AMERICAN PEOPLES WEALTH WAS ALL CREATED AND INSTITUTED AND PULLED OFF BY CRIMINAL IMPOSTERS WHO POSED AND ACTED AS AMERICAN CITIZENS…THEY WERE AND ARE NOT…THEY ARE CRIMINAL TRAITORS TO AMERICA AND THEIR FELLOW MAN…
    THE PEOPLE KNOW WHAT THE CONGRESS AND THE SENATE HAVE CREATED AND ALLOWED THESE FEDERAL RESERVE CRIMINALS TO DO WITH THE PEOPLES MONEY…
    IS NOT ONLY CRIMINAL AND TREASON…BUT THIS MASSIVE COLLATERAL FRAUD DEBT OF $1.2 QUADRILLION DOLLARS IS HIDDEN IN THE FEDERAL RESERVES UNREGULATED,
    SHADOW ELECTRONIC BANK AND CAN NEVER BE REPAID…THIS FRAUD IS MASSIVE AND UNSUSTAINABLE..
    THE TRUTH IS THAT ALL OF THESE TRAITOR POLITICIANS AND THEIR MINIONS AND COHORTS WHO ARE HIDDEN ALL THROUGH OUT THIS MASSIVE CRIME SPREE…
    SHOULD HAVE ALREADY BEEN THROWN INTO A U.S. MILITARY PRISON LIKE GUANTANAMO BAY FOR TREASON A LONG TIME AGO.,.!
    AND IF YOU READ BETWEEN THE LINES OF WHAT MR. BERNANKE IS SAYING TODAY…THE TRUTH IS…THERE IS NO POSSIBLE MONETARY OR LEGAL FIX FOR ANY OF THIS…
    SO THERE YOU HAVE THE TRUTH FROM THE HEAD OF THE CRIME SYNDICATE.. Fox News reported last night that FANNIE MAE intends to extort another $4.5 billion dollars in tax payer money from the U.S. TREASURY DEPT…IT IS WAY PAST TIME TO SHUT THESE CRIMINAL INSTITUTIONS DOWN…AND TO FREEZE ALL OF THE FEDS ASSETS BOTH IN THE U.S. AND ABROAD AND GIVE THE U.S. TAXPAYERS BACK ALL OF THEIR STOLEN WEALTH…AND — USE THAT STOLEN WEALTH TO BACK AND ISSUE OUR OWN CURRENCY, U.S. BANK NOTES..ISSUED VIA STATE BANKS…HOLD ALL CRIMINALS AND TRAITORS ACCOUNTABLE ALL THE WAY BACK TO ALAN GREENSPAN, LARRY SUMMERS AND TIMOTHY GEITHNERS AND HANK PAULSON HIJACKING AND THEFT OF ALL OF THE U.S. TAXPAYERS WEALTH AT THE U.S. TREASURY DEPARTMENT. ROBOSIGNING IS FALSIFYING LEGAL ASSIGNMENTS AKA AS THE LEGAL TRUST AGREEMENTS THAT CREATE SECURITIZATION THAT DO NOT NOR NEVER EXISTED…THERE IS NO LEGAL FIX FOR THE ORIGINATION FRAUD..THAT IS THE REASON WHY THERE WERE STRICT U.S. PROPERTY LAWS AND TRUST LAWS PUT IN PLACE TO PROTECT THE CITIZENS OF THE UNITED STATES FROM FRAUD BEING COMMITTED UPON OUR DEEDS..THERE IS NO MONETARY FIX FOR $1.2 QUADRILLION DOLLARS IN COLLATERAL FRAUD COMMITTED BY THE FEDERAL RESERVE AND THEIR INSTITUTIONS THAT THEY OWN AND CONTROL OR ARE OWNED AND CONTROLLED BY. THE FEDERAL RESERVE BANK IS NO MORE THAN A VAST WORK OF CRIMINAL FICTION….WHO IS IN TRUTH FUNDED AND PAID BY THE AMERICA PEOPLE UP FRONT AND HONEST AT THE ORIGINATION OF EVERYTHING…AND THE TRUTH IS THE FEDERAL RESERVE BANKSTERS OWE THE U.S. TAXPAYERS QUADRILLIONS…EVERYTHING IS A LIE AND A GIANT FRAUD..AND IT ALL NEEDS TO END..AND IT IS WAY PAST TIME FOR THE AMERICAN PEOPLE TO DEMAND THE RETURN OF ALL OF OUR HIJACKED, STOLEN WEALTH AND ISSUE OUR OWN CURRENCY IN THE FORM OF U.S. BANK NOTES BACKED BY OUR RECOVERED STOLEN WEALTH… AS THE U.S. CONSTITUTION AND OUR FOUNDING FATHERS REQUIRED. THAT REQUIREMENT WAS PUT IN PLACE IN ORDER TO UPHOLD AND PROTECT OUR FREEDOM, OUR INDEPENDENCE, OUR LIBERTY, OUR WEALTH, OUR JUSTICE SYSTEM, OUR PROSPERITY AND THEREFORE OUR NATIONAL SOVEREIGNTY..! BERNANKE STATED PUBLICLY THAT CONGRESS CREATED THE FED…AND CONGRESS CAN DRAW UP A MANDATE TO ABOLISH THE FED…AND WE THE PEOPLE MUST ALL STAND UP AND DEMAND THAT AND THE RETURN OF ALL OF OUR HIJACKED, HIDDEN WEALTH..!

  4. Fed up says:

    When will Fox News start covering this madness?

  5. Katheryn says:

    Mr. Ritholtz

    I am glad to see you publically talking about the lack of prosecutions for ‘fraud’. However, you’re opinion about the housing market collapse being totally about people being lent money to buy houses that couldn’t afford them was only one piece of the fraud that went on. You left out very important elements such as inflated values and incomes WHICH IS WHAT ALLOWED THE BUBBLE TO KEEP GROWING, therefore, causing a much wider and deeper collapse then what would have occurred with a few people buying too much house. Second, with the housing collapse also went the collapse of many many jobs, therefore, people such as myself, suddenly found their income falling right along with the housing market…what about those people Mr. Ritholtz? What about all the jobs lost by others who also had homes that could afford when they bought them, but find their jobs being sent overseas, therefore, now without income???? How about companies like BAIN CAPITAL, who went and consulted with companies telling them how to cut back their staff, meaning LAYOFFS, or destroying the company altogether?? What about those people who bought homes that they COULD afford. I hate to see people get the opportunity to spread the word publically to the masses about what is happening in this country…but tell the whole story not just parts of the whole story.

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