OUT OF MIND
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Latest topics
» Died Suddenly's - 01/26/23
Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud EmptyYesterday at 11:53 am by PurpleSkyz

» Earth’s Core Has Stopped and May Be Reversing Direction, Study Says
Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud EmptyYesterday at 11:48 am by PurpleSkyz

» Transgender Agenda News
Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud EmptyYesterday at 11:33 am by PurpleSkyz

» Parsing an Ungrateful Generation
Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud EmptyYesterday at 11:22 am by PurpleSkyz

» ‘Engineered’, Yes,…But In The Wuhan Lab?
Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud EmptyYesterday at 11:18 am by PurpleSkyz

» It's Hammer Time - San Francisco judge orders police bodycam footage of Paul Pelosi attack to be released
Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud EmptyYesterday at 11:16 am by PurpleSkyz

»  Establishment Demands You Stop Damar Hamlin Conspiracy Theories
Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud EmptyYesterday at 11:10 am by PurpleSkyz

» Record Renewable Energy Generation in Australia Led to Record Low Demand and Emissions in Fourth Quarter of 2022
Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud EmptyYesterday at 1:03 am by PurpleSkyz

» Consuming medicinal cannabis oil improves sleep in adults with insomnia
Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud EmptyYesterday at 12:53 am by PurpleSkyz

» Major Blow as Experimental HIV Vaccine Fails in Late Clinical Trial
Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud EmptyYesterday at 12:35 am by PurpleSkyz

» Oh Oh!! - 90 seconds to midnight
Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud EmptyYesterday at 12:31 am by PurpleSkyz

» NASA is building a nuclear rocket to get to Mars in just 45 days
Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud EmptyYesterday at 12:29 am by PurpleSkyz

» BOMBSHELL: New Project Veritas video hits it out of the park!!! Watch now!
Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud EmptyYesterday at 12:17 am by PurpleSkyz

» This gigantic Face discovered on a mountain near the village of Sardi Khola in Nepal
Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud EmptyWed Jan 25, 2023 11:35 am by PurpleSkyz

» Meanwhile…here on planet vaudeville…
Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud EmptyWed Jan 25, 2023 11:12 am by PurpleSkyz

» I Want To Stop CBDCs – What Can I Do?
Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud EmptyWed Jan 25, 2023 11:07 am by PurpleSkyz

» Good People Doing Good Things — Dr. Kwane Stewart
Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud EmptyWed Jan 25, 2023 11:03 am by PurpleSkyz

» Priests Doing What Priests Do
Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud EmptyWed Jan 25, 2023 10:28 am by PurpleSkyz

» Died Suddenly's - American Fashion Model Jeremy Ruehlemann Dead at 27 plus more
Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud EmptyWed Jan 25, 2023 12:39 am by PurpleSkyz

» Damar Hamlin is officially Tiffany Dover the sequel after sloppy propaganda display during Bengals at Bills game
Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud EmptyWed Jan 25, 2023 12:35 am by PurpleSkyz

» Non-Violent J6 Protester Who Put Feet Up On Pelosi’s Desk Found Guilty On All Charges, Faces Life in Prison
Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud EmptyWed Jan 25, 2023 12:28 am by PurpleSkyz

» City adds defibrillators to 4 Las Vegas parks
Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud EmptyWed Jan 25, 2023 12:24 am by PurpleSkyz

You are not connected. Please login or register

OUT OF MIND » THE INSANITY OF REALITY » FINANCIAL COLLAPSE » Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud

Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud

Go down  Message [Page 1 of 1]

PurpleSkyz

PurpleSkyz
Admin

Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud

4/10/2016 04:32:00 PM  GCRnB, News  
GCRnB (Global Currency Reset & Beyond)

Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud Weren't "ENOUGH"

Posted by Chicago

Wells Fargo - SEC Violations, Rate Rigging, Contract Fraud Wells_fargo_felons

"Top megabank, Wells Fargo & Co just admitted to defrauding the United States government for nearly an entire decade, which subsequently led to the housing market collapse, and no one is going to be punished.

On Friday, the largest US mortgage lender and third-largest US bank admitted to deceiving the U.S. government into insuring thousands of risky mortgages.

According to the settlement, Wells Fargo “admits, acknowledges, and accepts responsibility” for having from 2001 to 2008 falsely certified that many of its home loans qualified for Federal Housing Administration insurance, reports Reuters.


Wells Fargo also admitted to having from 2002 to 2010 failed to file timely reports on several thousand loans that had material defects or were badly underwritten, a process that Kurt Lofrano, a former Wells Fargo vice president, was responsible for supervising.

The intentional deception by this corrupt bank led to an insurmountable debt liability for American taxpayers as the FHA was forced to pay out insurance claims on all the defective loans.

As Reuters reports, Friday’s settlement is a reproach for “years of reckless underwriting” at Wells Fargo, U.S. Attorney Preet Bharara in Manhattan said in a statement.

“While Wells Fargo enjoyed huge profits from its FHA loan business, the government was left holding the bag when the bad loans went bust,” Bharara added.

However, Bharara’s words ring hollow when looking at the bank’s punishment. For robbing the public through defrauding the US government, not one single Wells Fargo employee will face criminal charges. The bank was merely ordered to pay a $1.2 billion fine. This is barely a slap on the wrist considering the turmoil that ensued from such criminal practices.

This punishment is also a kick in the teeth to the American public who are the ones who suffer most from these megabanks fleecing the country through irresponsible and fraudulent actions only to be ‘quantitatively eased’ back into profitable standing.

Franklin Codel, president of Wells Fargo Home Lending, in a statement, said the settlement “allows us to put the legal process behind us, and to focus our resources and energy on what we do best — serving the needs of the nation’s homeowners.”

Imagine for a moment that a rapist, responsible for raping thousands of women, was just let off with a fine and responded with a similar statement. Wells Fargo, who financially ‘raped’ the public for nearly a decade, is essentially saying, “I have been raping women for years, but we can put that behind us now and focus our energy on moving forward.” And the government thinks this is okay.

With their track record of letting megabanks run amok in the US, this settlement comes as no surprise.

Bank of America Corp (BAC.N), Citigroup Inc (C.N), Deutsche Bank AG (DBKGn.DE) and JPMorgan Chase & Co (JPM.N), have all previously settled similar federal lawsuits — again, with no one being held criminally responsible.

Until the people wake up to the atrocities being carried out against them by criminal bankers who control the government, this fleecing of the citizenry will continue. To all those who bank with any of these huge banks — pull your money out today, move it to a local bank, or find another alternative.

Failing to do so only sustains their criminal behavior. Please share this story with your friends and family as it will most assuredly be a mere blip on their televisions and deliberately easy to miss."

Matt Agorist is the co-founder of TheFreeThoughtProject.com, where this article first appeared. He is an honorably discharged veteran of the USMC and former intelligence operator directly tasked by the NSA. This prior experience gives him unique insight into the world of government corruption and the American police state. Agorist has been an independent journalist for over a decade and has been featured on mainstream networks around the world.

http://www.activistpost.com/2016/04/wells-fargo-admits-robbing-citizens-by-deceiving-govt-no-charges.html
Email ThisBlogThis!Share to TwitterShare to Facebook


Thanks to: http://inteldinarchronicles.blogspot.com/



  

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum