Comments on: Here We Go Again | Banks, SEC in Talks to “Settle” Fraud Allegations Relating to the Sale of Toxic Mortgage Bonds

By: Katheryn

Katheryn — Sat, 16 Apr 2011 16:51:32 +0000

In reply to Mary Cochrane. They (the lawyers) will surface when they see the courts finally start ruling iwith regards to the laws and see the revenue oppoutunites they are missing.

By: Mary Cochrane

Mary Cochrane — Sat, 16 Apr 2011 15:51:06 +0000

I’m always confused by everyone believing the powers are unlimited of the SEC.
Congress vests all powers.
The right to interpret the regulations approved and I believe Congress approves that too.
Congress controls creations of all laws and regulations including the acts that form the agencies (SEC, OTS, OCC) and complete control whether sanctions or trial. If trial jurisdiction with Attorney Generals under Article II Executive Branch.
Otherwise Congress has to be accountable for the harm to the economy, third element of our national security, for Congress alone oversteps their powers preventing enforcement of laws as designed under the Constitution.
When will there be a first impression case to stop Congress from overstepping their limited powers for the Federal Republic harmed by lack of enforcement of laws!

The Judiciary is to be impartial and they don’t file the complaints or cases, the Executive Branch does or citizens in civil court.

So all the citizens as consumers can do is seek due process in civil court for the malfeasances of harms which are indeed many.

And good attorneys can make a difference.
Where are they?

By: Martskers

Martskers — Sat, 16 Apr 2011 14:43:14 +0000

As long as the chair of the SEC is a shill for the securities (including financial services) industry, expect NOTHING in the way of any real consequences to that industry from its various peculations these last few years.

Remember, Mary Schapiro was the head of the so-called “self-regulatory” organization known, at the time, as the NASD (now known as FINRA), during which time she made MILLIONS doing the bidding of the entities she was supposedly regulating. Remember, too, that she was one of Bernie Madoff’s cronies in that position. Her elevation to the chairmanship of the SEC is part and parcel of the same plan that brought Larry Summers and Tim Geithner to power (and we know how well that went too, don’t we?).

By: saveamericaone

saveamericaone — Fri, 15 Apr 2011 21:32:40 +0000

Not a “Conclusion” rather a blinding fact.

Upon approveal of the Gram Leach Bliley Act Congress authorized a superior class of consumer without an amendment to the US Constitution.

Foreign organizations coveted proterty of the United States. ‘Financial Holding Companies targetted consumers as individuals are the ‘Weakest Link’ the least protected.

The poniz-money laundering scams involving real estate, banking and securities, designed with great care, what would happen at the end of the day if a consumer fought a foreclouse or bankruptcy in court.

The actual view of the ‘mortgage’ as recorded in the name of the ‘LENDER’ was only the “LENDER’ in the event of a default! If ‘Wells Fargo Bank NA’ LENDER on a ‘Mortgage’ they were the SELLER of the loan sold at a discount during secret originations. The BUYER sold back to the SELLER servicing rights to collect monthly payments until such time as the consumer defaults. Once late, the Reconstituted Servicing Agreements hanging off of the 8K’s of TRUST FUNDS contain the Miscellaneous Exhibits and Unassociated Documents you can only see via http//www.secinfo.com example SASCO 2006-Wf3, 8K, see ‘Other’ and find all (5) documents about 150 pages of Agreements in which the ‘Trustee’ US Bank National Assocaition will present to courts throughout the 50 states that they are TRUSTEE of any of the 88 Loan Trusts listed in the ‘TRUST FUND’ many foreign and not recorded over the financial exchagnes as entities.

By: decrepit

decrepit — Fri, 15 Apr 2011 14:43:53 +0000

O THANK HEAVEN!

By: dckanz

dckanz — Fri, 15 Apr 2011 14:26:27 +0000

Any “deals” with the SEC still leave the banks wide open for personal actions against them….this sudden wave of “repentance” is nothing more than smoke and mirrors——and a CYA or an attempt thereof.