muses of the moment

October 12, 2012

Groovygirl’s new favorite word: scumbaggery

Filed under: Bailout Nation, Bank bailout, Housing Market, Odds 'n ends, The Banking Crisis — totallygroovygirlfriday @ 2:21 pm

Click here.

Taibbi discusses the latest: US is suing Wells Fargo for mortgage violations (for the last ten years). Wow.

Kind of funny, the government bails out Wells Fargo, then sues to get some money. Seems like just a circular move of money and the foreclosed and/or under-water homeowners are not in the circle. Unless you count their tax dollars bailing out the bank.

It seems like scumbaggery 🙂

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2 Comments »

  1. Showboating ahead of the elections. Let’s see, WFC got $25 billion from Tarp and a tax break from Hank Paulson worth another $25 billion. The law suit is for a couple $100 million. So the maximum recovery for this fraud will be less than 1% of the money given to them. Wow, I want that deal. Little more than a slap on the wrist for the banksters. And of course WFC will settle out of court for much less with no admission of guilt and no one will go to jail.

    Comment by sw — October 12, 2012 @ 2:58 pm

  2. Have you had a chance to watch G. Edward Griffin’s video “”Legalized Plunder of the American People”? A must watch.

    http://www.zerohedge.com/news/2012-10-10/guest-post-feds-sole-purpose-keeping-banks-afloat-g-edward-griffin

    Comment by sw — October 12, 2012 @ 3:17 pm


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