The Daily Show: Money Boo Boo – Internal e-mails implicate credit rating agencies in the 2008 financial crisis.

Money Boo Boo

Internal e-mails implicate credit rating agencies in the 2008 financial crisis.


9 Responses to “The Daily Show: Money Boo Boo – Internal e-mails implicate credit rating agencies in the 2008 financial crisis.”
  1. J. Alonzo says:

    Why are we amazed at this news? The fraud is already directly in our face as of many years. The sheep being herded along.

  2. BOBBI SWANN says:

    @ TTT – if you were working in the industry you would know that your statement in that post is just as ridiculous as saying that gun control will reduce violence! As has been the same procedure for a long number of years, any borrower is required to sign an application upon applying for a mortgage but it is also requisite that a borrower sign an application at closing to reaffirm all information appearing within. In the days of WAMU and Countrywide and World Savings, there was no figures to put in and therefore no falsification. Those lenders required applications to remain BLANK because they were NO INCOME loans. Simply put, there was no income even revealed. SISA or Stated Income Stated Assets type programs were figures that were derived directly from the borrower stating as such. People were in such a frenzy to buy that they didn’t care nor did they even stop long enough to read the disclosures for the programs. You can lead a horse to water, but you can’t make them drink. Granted, there were a lot of bad originators out there but every industry out there is tainted with a few bad apples. Please do not infer that all originators participated in deception and falsification. If you know of such a person then spill the beans and name names but otherwise your comments don’t hold water.

  3. I am the most honest person that never missed a payment on our home since 1986 and actually paid it off but an employee of the servicer for Freddie Mac is GUILTY of DEFALCATION from 1998 – 2003. Our story is unlike any you have ever heard and I am praying everyday that there is someone out there that is ETHICAL and has a voice that will be heard to expose our story. We have a preponderance of evidence and proof of Dereliction of Duty from the MA Division of Banks, AG Martha Coakley, Office of Consumer Affairs & Business Reg-Daniel Crane, FBI and the unethical Judge in Housing Court. I don’t know how these people sleep at night when they are responsible for FRAUD, CONSPIRACY, EMBEZZLEMENT, UNJUST ENRICHMENT and the list goes on and on. It makes me sick to my stomach to think what our son went through as a Front line Marine & Combat Veteran to return after his 2nd Deployment to find out the only home he ever knew was gone and his parents lost their retirement & life savings to pay legal fees only to have an unethical and corrupt Judge. Why aren’t these Judges and Bankers going to Jail?

    • BOBBI SWANN says:

      Have you taken your story to the press? Any news agency but maybe like Fox News, Sixty Minutes, etc??? There is no hope in our courts with all of the corrupt judges but maybe the press could do some ‘revealing’. Put your story out there. For your son’s sake who put his life on the line for our own protection….and please thank him for me!

      • @Bobbi Swan I have sent emails to numerous reporters about our story. I am not giving up until I find an ETHICAL person that has a voice that will be heard. All the work is done for them I have everything in chronological order. My dad thought it was impossible to lose a home when not in arrears and no knowledge of the sale. When he looked thru all my documents he just cried. It is so sad and hard to believe!

      • BOBBI SWANN says:

        @concerned21bluestarmom-pissed – I have a suggestion. Why don’t you put a video on YouTube but also put your story on a video CD, make several copies and send them to the NATIONAL TV broadcast stations. One of them will pick it up and besides, who can resist not playing a CD when it comes in the mail? Without a doubt, your story needs to be revealed! It will provide such help to others who I know have witnessed the same situation. You are not alone. This has happened everywhere in this country. Obviously you have internet connection; then you can video your story. God Bless.

      • @Bobbi Swan I really want to thank you for your suggestions. You had some great advice and I am going to follow it. I will let you know how I make out. It is so refreshing to see there are still some ethical people out there and are willing to help. I am very appreciative for your responses to my comments. Thanks so much!

  4. Of course there was complicity! But many mortgage originators falsified applications. Banks knew the whole thing was a scam yet not one of them have been charged with developing or fostering a crime. Even Mozilla, Countrywide’s CEO, creator of some of the bogus methods, got out before it all hit the fan and retired comfortably in one of those states that lets you keep everything you scammed off poor taxpayers.
    Now with the government listening to everything we say and write, you would think they could discern who was working illegally in the banking industry, particularly since surveillance was in place since after 9/11, one illegal war and not to mention the government’s ability to trace ricin letters to their perpetrators within days.
    No one can find anything criminally wrong with a mortgage and banking scandal that destroyed the U.S. and global economy? WOW!

    I still have that bridge over the mighty Mississippi here in case anyone is interested in a good buy!

  5. Valerie says:

    That was so dead on and what a revelation that it takes COMEDIANS to point out the folly in our government being in bed with the financial institutions. Guess its pretty obvious who they work for, huh?

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