ARE YOU KIDDING? Fed Investigation Can't Find Single Homeowner Wrongfully Foreclosed Upon

[kpete]

Source: Huffington Post

HUFFPOST EXCLUSIVE---ARE YOU KIDDING?
Fed Investigation Can't Find Single Homeowner Wrongfully Foreclosed Upon

Fed Report Finds No Wrongful Foreclosures By Banks, Consumer Advocates Slam Methodology

WASHINGTON, D.C. -- A months-long investigation into abusive mortgage practices by the Federal Reserve found no wrongful foreclosures, members of the Fed's Consumer Advisory Council said Thursday.

During a public meeting attended by Fed chairman Ben Bernanke and other regulators, consumer advocates on the panel criticized federal bank regulators for narrowly defining what constitutes a "wrongful foreclosure." At least one member of the panel voiced concerns that the public would not take the Fed's findings of improper practices seriously, since the wide-ranging review did not find a single homeowner who was wrongfully foreclosed upon.

The Fed's findings seem to support claims from the banking industry, which has admitted to sloppy practices but has maintained that the homeowners whose homes have been repossessed were substantially behind on their payments. The Fed's report has not been released to the public.

All 50 state attorneys general joined together last fall to probe banks' foreclosure practices after several companies halted home repossessions when improper paperwork practices -- like the so-called "robo-signing" scandal -- came to light. The law enforcement officers have said they've found banks violated numerous state laws. State and federal officials are considering a large-scale settlement with banks and mortgage servicers that could include penalties totaling up to $30 billion and requirements to modify more distressed mortgages.

Read more: http://www.huffingtonpost.com/2011/03/10/fed-reports-finds-no-wron_n_834010.html

[RandomThoughts]

1. The Fed just missed another payment.

And I am due beer and travel money and many experiences.

[Bozita]

2. I'm shocked, shocked I tell you!

[rug]

18. Your winnings, sir.

[subterranean]

3. Here, I found some wrongful foreclosures for them.

All it took was couple of minutes on Google.

http://abcnews.go.com/Business/bank-america-sued-foreclosing-wrong-homes/story?id=9637897
http://articles.sun-sentinel.com/2010-09-23/business/fl-wrongful-foreclosure-0922-20100921_1_foreclosure-defense-attorney-foreclosure-case-jumana-bauwens

[subterranean]

4. This is not surprising, since the Fed is owned by the banks it was investigating.

[Bozita]

7. Fox finds reports of missing chickens to be mere hearsay

[struggle4progress]

9. +

[Aerows]

5. They were looking for the foreclosures...

...at the bottom of the ocean, and on the tropical beaches of Antarctica, I presume.

[avaistheone1]

6. Then the Fed is deaf, dumb and blind.

:freak:

[blackspade]

8. This is total bullshit.

They couldn't find a single incident?
That means they didn't look.
Which means that they didn't do their job.

[fasttense]

10. The Fed is no longer the Fed.

It is merely a funnel of our tax dollars and national wealth to the corporate aristocracy. They need a new name.

Ok, you geniuses here on DU, give me a better name for the Fed. I like the RepubliCON nick name and the banksters nick name and the dancing supremes is priceless. We need one for the Fed.

[Plucketeer]

11. Fraudulent Fucking Financiers?

Triple F - like their honesty rating would be. Shit - there's a family next door to us that's been jacked around unmercifully! Course, we DO live off a dead end road section in a rurla area. Probably intimidating to forge out here with us savages!

[PoliticAverse]

12. From the organization that couldn't find a housing bubble... n/t

[Old Codger]

13. LOL

The fed along with most if not all of our "government" is a fully owned subsidiary of the general assoc. of corporations. They could not find their assholes with both hands, or pour piss out of a boot if the directions were written on the heel....

[ixion]

14. Ah, the putrid smell of corruption in the morning

smells like BS.

[jmowreader]

15. I think I understand this...

When they established the team to look for wrongful foreclosures they picked the same people John Ashcroft sent to New Orleans to look for prostitutes.

If those guys could only find twelve hookers in the Big Easy, I'm not surprised they couldn't find any wrongful foreclosures.

[Betty]

16. Of course they couldn't

is there any part of the government left that is not a wholly owned subsidiary of big business? This is 100% fascism, pure and simple.

[Ignis]

17. Change we can ... oh, forget it.

[JoeyT]

19. No crimes committed here!

Time to look forward.

"I found a crime!"
"Too late! We're looking forward now."

[alfredo]

20. The rich have manipulated the laws to make their crimes

legal. We need to start fighting back. Defund the rich!

[StarburstClock]

21. It's been obvious for years that the feds are corrupt

Just another piece of a corrupt country.

[stockholmer]

22. the banks ARE your government,only way to get it back from them is going to eventually be quite ugly

At some near to mid-term date (2 to 4 years out, IMHO), the tipping point will be reached.

The bankers are quite sure that they can crush any potential revolt/dissent action through the legal-military-industrial security state they have built up over the last 50 years (especially the last 10 to 15), along with the mass-psychology media-political-consumer complex, and the overall reduced health of the USA populace. People can't fight/resist for instance if you need a cart simply to shop in a store due to weight or are diabetic and the insulin is cut off (by 2020 half the USA will be diabetic, or on the imminent verge).

The other option (one used throughout history) is to start a global or near-global war via false-flag terror.

like I said---- ugly either way