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jwerner
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Joined: 20 Jul 2008
Posts: 1140
Location: Cleveland, OH

Re: Is JPMorgan Chase and the FDIC aiding and abetting fraud?
PostPosted: Sun Nov 22, 2009 5:18 am Reply with quoteBack to top

Bringing more light to this thread ...

A spokesman for JPM specifically said recently that the Bank was not wanting to simply throw spaghetti at the wall and hoping some would stick. Exuse me, that is exactly what happened considering the market today as a result of junk from about 2003.

Hypocrisy at its finest (outside of a so-called church of course):
http://www.housingwire.com/200.....fications/

Thanks to God,
Jason

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Woe unto them that decree unrighteous decres, and that write grievousness which they have prescribed;
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rocketrob
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Joined: 18 Mar 2008
Posts: 405

Re: Is JPMorgan Chase and the FDIC aiding and abetting fraud?
PostPosted: Wed Nov 25, 2009 1:01 pm Reply with quoteBack to top

So, let's revisit the FDIC/OTS connection in the WAMU takeover by JPMorgan Chase for about a third of a penny on the dollar...

http://livinglies.files.wordpr.....-final.pdf
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jwerner
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Joined: 20 Jul 2008
Posts: 1140
Location: Cleveland, OH

Re: Is JPMorgan Chase and the FDIC aiding and abetting fraud?
PostPosted: Wed Nov 25, 2009 3:34 pm Reply with quoteBack to top

rocketrob,

I'm with ya. And there should be no questions why the talk is so loud about OTS being wiped out by Congress.

But a failure of regulation and law enforcement across the board:
http://www.responsiblelending......tions.html

Thanks to Jesus,
Jason

_________________
Woe unto them that decree unrighteous decres, and that write grievousness which they have prescribed;
Isaiah 10:1
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rocketrob
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Joined: 18 Mar 2008
Posts: 405

Re: Is JPMorgan Chase and the FDIC aiding and abetting fraud?
PostPosted: Wed Dec 02, 2009 1:28 pm Reply with quoteBack to top

Great article by Patrick Pulatie. He is a mortgage fraud investigator. The title of his writing was published around Dec 1, 2009: "Anatomy of a government abetted fraud: Why IndyMac -One West always forecloses."

http://iamfacingforeclosure.co.....orecloses/

The situation is very similar to JPMorgan Chase and WAMU and the FDIC. OTS "supervised" IndyMac and WAMU.

WAMU was sold on the cheap (third of a penny(?) on the dollar) to JP Morgan Chase.

Wealthy entities who are tied to the government have been given sweetheart deals to pick up guaranteed foreclosures from fraudulent lending origins and strip equity at time of REO disposition.
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simon l
Dud?


Joined: 22 Nov 2009
Posts: 5
Location: cicero, illinois

Re: Is JPMorgan Chase and the FDIC aiding and abetting fraud
PostPosted: Thu Dec 03, 2009 1:06 pm Reply with quoteBack to top

[quote="rocketrob"]The FDIC is backing JPMorgan Chase in (allegedly) fraudulently taking my home. WAMU defrauded myself and potentially 100,000's of other US taxpayer/homeowners.

The FDIC is also defending JPMorgan Chase to cover up this "theft."
http://www.reuters.com/article.....1V20090513
also see:
http://www.businessweek.com/th.....movie.html

If you could pull up the "Texas case," (EXHIBIT A) the allegations that JPMorgan Chase and the FDIC were in collusion to steal WAMU are very damning.
http://www.kccllc.net/document.....000002.pdf

Feel free to contact me at (850) 259-6422 or crharrington@cox.net

Thank you,

Robert Harrington
Niceville, FL[/quote]


Hmmm how strange - in my researching for help with my Servicer Wells Fargo, I found out that it was Wachovia's Trustee for 4 years before it took over Wachovia - it then applied to the SEC to claim non-liability for Wachovias' bad loans.

What the heck gives here?
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DELETED
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Why Isn't Anyone in Jail?
PostPosted: Thu Dec 03, 2009 8:00 pm Reply with quoteBack to top

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rocketrob
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Joined: 18 Mar 2008
Posts: 405

Re: Is JPMorgan Chase and the FDIC aiding and abetting fraud?
PostPosted: Fri Dec 04, 2009 1:52 am Reply with quoteBack to top

and when FDIC shows up in my cases to "protect" a dead WAMU, I will bring up this article from Bloomberg:

http://www.bloomberg.com/apps/.....m5YKDn20BE

The writer Jonathan Weil explains...

"Shaky Credibility

The credibility of that reserve figure gets shaky when you consider how much the number of troubled banks has risen lately. The FDIC last week said the tally of banks on its “problem list” more than tripled during the past year. The list consists of banks that, in the agency’s view, exhibit “unsafe or unsound” lending practices or financial conditions. (The FDIC doesn’t name the banks.)"

and he also states this.... "That’s because the FDIC has been underestimating its losses ever since the financial crisis began, which is another way of saying it has consistently overstated its insurance fund’s capital position. At the rate it’s going, the FDIC soon may have no choice but to borrow money from taxpayers by tapping its $500 billion credit line with the Treasury Department, an option it so far has avoided.

What’s just as troubling, though, is the example the FDIC is setting for the industry it’s supposed to regulate. Either the FDIC isn’t very good at gauging its obligations, or it has a habit of denying reality. "

...................................................
again for full effect...
"What’s just as troubling, though, is the example the FDIC is setting for the industry it’s supposed to regulate. Either the FDIC isn’t very good at gauging its obligations, or it has a habit of denying reality. "
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rocketrob
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Joined: 18 Mar 2008
Posts: 405

Re: Is JPMorgan Chase and the FDIC aiding and abetting fraud?
PostPosted: Sat Dec 12, 2009 1:31 am Reply with quoteBack to top

FDIC Aiding and abetting? They pushed OPTION ARMS TO CONSUMERS ON THEIR OWN WEBSITE? Geez, glad they didn't ever push PINTO's with exploding gas tanks?

http://www.fdic.gov/consumers/.....gages.html

OK, push Option Arms in 05 and scoop up REO's in 09.

Google FDIC REO sales....

So are they a regulator or get-away driver? A cop or a bag-man?
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jwerner
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Joined: 20 Jul 2008
Posts: 1140
Location: Cleveland, OH

Re: Is JPMorgan Chase and the FDIC aiding and abetting fraud?
PostPosted: Thu Dec 24, 2009 1:52 pm Reply with quoteBack to top

rocketrob wrote:
FDIC Aiding and abetting? They pushed OPTION ARMS TO CONSUMERS ON THEIR OWN WEBSITE? Geez, glad they didn't ever push PINTO's with exploding gas tanks?

http://www.fdic.gov/consumers/.....gages.html

OK, push Option Arms in 05 and scoop up REO's in 09.

Google FDIC REO sales....

So are they a regulator or get-away driver? A cop or a bag-man?


I know of a case where a woman had a civil RICO case going against FDIC. We need to get these guys now for racketeering and close 'em down.

Jason

_________________
Woe unto them that decree unrighteous decres, and that write grievousness which they have prescribed;
Isaiah 10:1
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rocketrob
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Joined: 18 Mar 2008
Posts: 405

Re: Is JPMorgan Chase and the FDIC aiding and abetting fraud?
PostPosted: Sun Apr 04, 2010 2:07 pm Reply with quoteBack to top

JPMorgan Chase is now getting in trouble for its dubious foreclosure activities in certain cases. If you are a WAMU homeowner, do a little research on Chase regarding the foreclosure of WAMU homes... Does JPMorgan Chase REALLY own your loan?

http://api.ning.com/files/Y8PC.....pd.wpd.pdf

Good hunting! Smile
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