SEC charges Wells Fargo banker, nine others with insider-trading

Comments (3)
grandma28 wrote:

Now when are they going to go after the Congress for doing the same thing? Probably never…

Dec 05, 2012 6:38pm EST  --  Report as abuse
Harry079 wrote:

When will they ever learn, when will they evvvvvvver learn?

Dec 05, 2012 6:44pm EST  --  Report as abuse
CharlesReed wrote:

What about Wells Fargo involvement in the illegal foreclosing of all the Washington Mutual Bank federal government loans (FHA, VA, USDA) that were in Ginnie Mae Mortgage Backed Securities (MBS).

We are talking about billions that Wells Fargo owes the US taxpayer in fraudulent foreclosure sales and False Claims against the FHA Mortgage Insurance Premium and VA Guaranty Fund.

Now Wells Fargo not along in this crime but they are a part of the crime and is why the FHA has up to the $31 billion shortfall, on $70 billion loan losses.

What part of Ginnie Mae program is not understood by financial reporters in the fact that Ginnie Mae cannot purchase home loan mortgages because it not a lender and is not authorized by Congress to place into debt the America taxpayer at all.

When it is convenient Ginnie Mae implies some type of ownership, however simply being in possession of a endorse blank Note without having purchase the debt per UCC 9 means the Note is worthless and is forever non-negotiable.

Simple is a Note is a Note because a debt that is attached to it is still actively owed and possession by the Note holder. Now one without the other means there not a valid contract and there is also no valid lien/title that can be recorded, which means there no foreclosure that can take place.

Not that complex once you use common sense! We the People in this Ponzi scheme are owed at total of $264 billion that includes the treble damage.

Dec 05, 2012 7:43pm EST  --  Report as abuse
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