The high-profile mortgage company sponsored Indy Car driver – Danica Patrick.
WE WERE WARNED !! Yet…No one did a thing!!!
SHOCKING, STUNNING, and ACCURATE predictions are quotes from a now almost 3 year old (2008) article (linked below):
“We called it early… Nobody listened,”There was blood on the streets of Cuyahoga County. But it wasn’t until there was blood on the streets of Wall Street that anyone cared.”
(Jim Rokakis – Cuyahogo County Treasure)
‘This is going to become an epidemic,’ and they sat on their hands. For whatever reason, they didn’t act. But if you were looking, the handwriting was on the wall. If you were looking, it was obvious something was wrong.”
(Tony Stevenson, a staff attorney with Housing Advocates Inc. in Cleveland)
“Regulators allowed loose lending to keep the economy going. All the regulators knew what was going on.”
(Raj Aggarwal, dean of the College of Business Administration at the University of Akron)
For years the city of Cleveland had been WARNING the “asleep-at-the-wheel” State and Federal regulators of what was to come. Home prices become so outrageous in value, that during a 6 year period, median home prices (in Cleveland) rose 56%, according to county real estate records, while the city’s population dropped 4% …during this same period. It didn’t make sense!
*The case involves 100 properties in Cuyahoga and Summit counties that were financed with nearly $13 million in Argent loans and sold by Uri Gofman, the owner of Cleveland-based Real Asset Fund, one of his companies. The new investigation grew out of a Cuyahoga County case being prosecuted against Uri Gofman, who was indicted in August 2008, in Cuyahoga County Common Pleas Court, for his role in what was then said to be one of the biggest mortgage fraud schemes in U.S. history. It is said to involve 453 homes purchased with $44 Million in FRAUDulent loans and $31million in siphoned profits.
Check out this report in full here…