Posted by HisHughness on 10/13/13 9:59am
Msg #487931

One more reason to dislike big banks

http://economix.blogs.nytimes.com/2013/10/08/the-guarantee-that-banks-may-fear-to-invoke/?src=recpb

When are some of these people going to jail?

Reply by 101livescan on 10/13/13 10:21am
Msg #487934

Actually, this has been a banking business model for decades. I worked for a bank in the 80s when we had a foreclosure bust. The bank had their ways of "skewing" the bad numbers. Crazy biz. I guess if you want to stay on the radar screen. FDIC takeover was imminent. Bank was closed after a few years.

Reply by Frank/NC on 10/13/13 10:52am
Msg #487938

They don't go to jail because the people who now oversee them were once working for the big banks and committed the same offenses. I'm also quite certain that those who now oversee these banks also have a very pleasant working relationship with them. How comfortable it must be for all of them to sleep in the same bed.

Reply by Darlin_AL on 10/13/13 11:25am
Msg #487945

does anyone know if the principals in the mtg fraud that

closed Colonial Bank (FDIC) and TBW in FL ever got jailtime? I had to work w/the LO who was doing it; albeit, at a distance since I was at HQ processing her commercial ACH customers' paperwork. There was not much on the news bcause the guy who owned the bank, Lowery, had worked against the local news outlets to quash all mention of him (as a Trustee for Auburn for 20yrs) and his dirty dealing. I won't publish the woman's name because if she did do jail time, she may be out by now. It was fake mtg scheme--6 digits per day. I'm not posting a link as I don't want to get a call or visit from "Guido".