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Main Forums => Political Opinions => Topic started by: pbsaurus on January 15, 2010, 03:46:57 PM

Title: Your Tax Dollars At Work
Post by: pbsaurus on January 15, 2010, 03:46:57 PM

Clack (http://iamfacingforeclosure.com/blog/2009/12/01/anatomy-of-a-government-abetteded-fraud-why-indymaconewest-always-forecloses/)

Clack (http://onewestbankfail.com/act-now/)

Clack (http://homeownerrevolution.com/)

Clack (http://www.loansafe.org/forum/loan-modification/20357-indymac-lies-3.html)

And in the San Jose Mercury News clack (http://www.mercurynews.com/ci_14142901?source=most_emailed&nclick_check=1)

There are plenty more links and examples.  Basically OneWest, funded by a private equity firm funded by George Soros and Michael Dell cut a sweetheart deal with the FDIC to purchase IndyMac at a substantial discount along with the FDIC picking up 80% of the book value of any losses on 'toxic' loans.  The net effect of this is every foreclosure, no matter the 'loss' to OneWest, will end up reaping a nice profit, thanks to the FDIC subsidies, which are funded by us taxpayers.

So in a nutshell, IndyMac/OneWest will not do any loan modifications because they want to foreclose on all the loans and make windfall profits.  In order to execute this strategy they are using fraudulent practices to force homeowners into foreclosure by offering a temporary modification and then denying it after the homeowner pays the agreed upon amount.  This has the makings for one of the biggest scandals out there.

Title: Re: Your Tax Dollars At Work
Post by: ivan on January 15, 2010, 04:07:15 PM

Wow.

Just... wow.

(BTW, there's some extra characters at the end of that last link.)

Title: Re: Your Tax Dollars At Work
Post by: pbsaurus on January 15, 2010, 05:48:25 PM

Yeah, you should go to that other place and read some more.