Friday, September 2, 2011

Sue the Banks

h/t Chicago Tribune

Hmmm. Thank Ja the "Too Big to Fail" gang has had Billions of taxpayer dollars pumped into their legal defense funds.
WASHINGTON (Reuters) - The agency that oversees mortgage markets is preparing to file suit against more than a dozen big banks, accusing them of misrepresenting the quality of mortgages they packaged and sold during the housing bubble, The New York Times reported on Thursday.

I predict reddened, stinging, Armani-clad wrists across boardrooms everywhere.

Former regulator William Black had an accurate assessment of systemic fraud in this interview by Bill Moyers.
Way back in 2009.
At 28 minutes the vid is longish. It's worth every second of your time.

William Black also wrote this Dead Tree indictment of the banking cartel ...
Do YOU trust your bank? Why?

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