Comments on: Another Wrist Slap | Wells Fargo Agrees to “Settle” with SEC for $11 million on Wachovia Securities Laws Violations Involving Mortgage-Backed Securities

By: usjustice4all

usjustice4all — Thu, 07 Apr 2011 06:50:13 +0000

So by getting money back (the investors). Isn’t that essentially writing down the loan (owed amount) for the home? Algebra says subtract from one side, must subtract from the other. GAAP do as well. And aside from that the cost to the share holders to dispute all this is tons more than what the write downs would do, there must be more to it. But really, did the settlement not pay off the lender for the borrower for paying more for the actual value. and rightfully by the party that took the $.

By: Fury

Fury — Thu, 07 Apr 2011 02:22:50 +0000

i’d like to see fuld ,mozilo, and dimon (to name a few) running out in their jammies and being hustled off into the back of a squad car.

By: Fury

Fury — Thu, 07 Apr 2011 02:19:09 +0000

i want my money.
do i have to get a SWAT team to help me?

By: Fury

Fury — Wed, 06 Apr 2011 00:36:09 +0000

sheila bair of the FDIC doesn’t seem to realize the extend of this fraud.
the fraudsters owe us trillions not billions of dollars.

you are not going to be able to silence us, sheila bair, or your predecessor who takes over in june.

pay back our lost money and the fraudsters ill-gotten gains that they made off of us!

By: Fury

Fury — Tue, 05 Apr 2011 22:49:53 +0000

these banks and their henchmen have the money to pay back what they have stolen from us.
make no mistake. they have billions or trillions at their disposal.

pay it back or we will sue you for many times that in damages!

By: Lit Gant

Lit Gant — Tue, 05 Apr 2011 22:19:20 +0000

Yeah…

None of the money will go back to the victims of the fraud. It will be used by the government for any number of its own programs. Or it will be used to help those who are not in foreclosure and or who have not lifted up a single cry against the fraud. I believe the amount of the settlement is about five billion dollars low. Looks like to me in the secret talks, the Gov regulators and the banks are working out a scheme to raise fees to now cover all these pay-out penalties and fines. So watch for all kinds of new fees and an increase on other use fees. With over 3 billion NSF per year all they have to do is increase the charge from $25 to $35 and then to $45 in incremental steps and there is a lot of cash comes rolling in. So watch for the increase in fees, ATM fees, and so forth. I believe the SEC has sold us out for this small amout of money.

By: Fury

Fury — Tue, 05 Apr 2011 22:06:16 +0000

whoops. wrong thread. i wlll re-post my last comment.

By: Fury

Fury — Tue, 05 Apr 2011 22:04:45 +0000

i guess lynn’s fraudsters COULD re-file but then they would risk another big foam core board enlargement on 60 Minutes. i wouldn’t do it if i were them.

they need to go off w/ their tail between their legs and not defraud other innocent people.

get a new line of work. anything to help their karma. they will have to answer for their dirty deeds….

By: Fury

Fury — Tue, 05 Apr 2011 21:58:02 +0000

uh, yeah, wachovia.

they laundered drug money for mexican drug cartels.

http://www.guardian.co.uk/world/2011/apr/03/us-bank-mexico-drug-gangs

how many other banks did the same?

By: Pamela

Pamela — Tue, 05 Apr 2011 21:43:23 +0000

Thats all they get too a slap on the rest and then in some cladenstien operation the money will just magically be returned.I feel like I’m at the Walt Disney horror flicks.I guess some people are just above jail time and the rest of us should just go along with it.After all it is the common business model.What a scam!!!