``I don't believe it's just about Washington Mutual,'' Cuomo said at a press conference in Manhattan today.
``I believe it's widespread. I believe it's the rule not the exception. And we're investigating Fannie Mae and Freddie Mac and other investment banks as to the underlying practices that have allowed this to go on for so long.''
(too bad he didn't read HP sooner...)
November 08, 2007
And then the government watchdogs who should have been doing their jobs years ago FINALLY figured out the Big Housing Scam
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19 comments:
I agree but at the same time anything that comes from a NY attorney general should be taken with a grain of salt.
Spitzer prosecuted anyone and everyone he could get his hands on just to build a reputation to run for governor and I expect the same from his successor.
Cuomo is opening up a HUGE can of worms!!! Very stinky rotting worms! I really don't think his stomach can handle it.
Don't get me wrong... I would love nothing more than to see TRUTH be revealed and JUSTICE prevail. However, Cuomo doesn't realize he's un-earthing 7+yrs. of this mess!
Have you guys watched Cramer last night when he was putting a huge hunter's knife on supermodel Gisele's photo, on her face and throat, while blaming the free fall of the dollar on her?
Just because her American financial advisers told her to get the contracts in Euro from now on. Gee, just like Warren Buffet did by buying foreign stocks to get away from dollars. Cramer viciously attacked Gisele as the cause of that huge dollar drop yesterday, and the market tanking as well. Can you believe this guy? She didn't volunteered any personal information. It was Bloomberg that was asking about her financial affairs to her agent.
Hey Cramer, your conman pals on Wall Street are responsible for this mess, so allow us, the HONEST workers, to protect our money from their financial scams and your always stupid and irresponsible financial advice.
We all remember Cramer yelling (like the little girl that he is) on TV, pressuring Bernanke to bail his Republican bankers out, who were gambling and cheating away at taxpayer's expense, as usual. Sure Cramer, it's Gisele's fault...no, it's my fault because I also put my money into Euros.
Let it go again folks, Cramer is applying the old Republican trick of blaming someone else to devoid attention from the real crooks, and to censor opponents. A favorite from the White House. Remember former superhot CIA agent Valerie Plame? Same dirty trick.
Last week Cramer referred an investment to one of those brainwashed schmucks and yesterday the stock tanked, huge wipe off. What Cramer had to say to the sheeple who was complaining to him for losing his shirt? "Too bad, but I take full responsibility"...no sh!t Sherlock! Since when Cramer takes responsibility for all the bad financial advice he gives to the brainless morons who listen to him? I take full responsibility is just a worthless phrase, Cramer, because you are not going to give the money back, are you?
Do you see Cramer's play here, which is Wall Street's along with the corrupt TV networks? The intention here is to censor anyone who goes against the Wall Street scam. Cramer and his pals want the smoke & mirrors to go on, to fool the sheeple into thinking that everything is ok, while Wall Street pump and dump worthless stocks and dollars.
Cuomo may or may or may not be watching HP. But I KNOW his staff is montoring Appraisers Forum. Want to see how disgusted appraisers are with the system and other appraisers? Look here.
Eappraiseit and WAMU have staff that monitor this forum.
Eappraiseit is suing a moderator who spoke out against them on that forum. Meanwhile she has compiled thousands upon thousands of documents against lender's and AMCs. She turned everything she had into Cuomo months ago.
Appraisersforum.com
Go for it Cuomo, dig up all the bones on this one. It might actually give push to the bill that will authorize cram-downs in primary residences during bankruptcy. If the public is informed that they overpaid for housing stock due to collusion then the bought & paid for Congress will have to stop doing their REIC master's bidding and pass the bill. If the REIC can collude to juice the masses, then the courts should be allowed to take that juice away from the REIC.
I am sure if Ron Paul gets elected as Prez., Keith will be Attoney General of USA. HP may replace USA today.
It has been an open secret that, among lenders, WAMU has been a cesspool of corruption. What took Mr. Cuomo so long?
Anon 10:15..... Cramer, along with his fellow swindling parasites, don't want the goyim to wake up to this dollar scam too quickly.
Afterall, he and his fellow tribesmen are not done bleeding us dry yet.
WOW...Did anyone see Cramer's latest rant regarding Cuomo's investigation??--My opinion of this Quack is now forever changed.
He is railing on the guy for destroying "ANY HOPE" of selling all the inventory now on the market and for single handedly destroying the housing market!!...WTF?!!!
ALL THIS, coming from the man who destroyed the housing market long before Cuomo got this claws on it, by yelling "DON'T YOU BUY NOW..YOU WILL LOSE MONEY!!"
LOL!! I see very clearly now that he is no friend to investors, and no friend to Americans in general. The only thing he cares about is rescueing his crooked banker and broker buddies from the fire. He contradicts his own advice left and right, as long as it protects his interests.
I am starting to see him for the Criminal he really is....Sheeesh, what took me so long??
Cuomo is opening a HUGE can of worms here, millions of them, as "Princess Mononoke" said so well, and once he opens that can, there will be no turning back.
There has been NO transparency in this industry, which thanks to the Bushies, has been allowed to run wild and unchecked for years and years. As painful as it will be, what America really needs now, is just the unvarnished TRUTH about what has been happening and what this CRAP is worth...(0 for instance).
God Bless the next president who will inherit the most TOXIC, gargantuan mess in the history of our country. Honestly, I am surprised anyone wants the job now. How could one administration be responsible for SO MUCH damage. Our country is going down the toilet!!
http://www.thetrumpet.com/index.php?q=4406.2649.0.0
yep, I've thought for a long time that outright, widespread criminal level fraud is the "wild card" within this credit bubble that will accelerate the process of declining prices for housing. If it were just purely a matter of a demand/supply plank resting on a fulcrum of price then the price declines would be more gradual but the widespread fraud perpetuated by purposely inflated appraisal and poor credit decisioning are going to accelerate the trend (IMHO).
Anonymous said...
Have you guys watched Cramer last night when he was putting a huge hunter's knife on supermodel Gisele's photo, on her face and throat, while blaming the free fall of the dollar on her?
==============================
Didnt you know that Cramer was the first reporter on the scene at serial killer Ted Bundy's last rampage? The guy loves this kind of thing.
[cramer] is railing on the guy for destroying "ANY HOPE" of selling all the inventory now on the market and for single handedly destroying the housing market!!...WTF?!!!
Cramer doesn't care about Wamu. Retail banking is low class.
He DOES care about his buddies in the big i-banking houses, and of course his station's owner.
If Wamu and Fannie can get subpoenaed, why not GE Financial Services?
People will learn that yes, the conspiracy theorists really WERE right. There is a class war going on---and the billionaire capitalist class is waging it and winning in a blowout.
And they've given people guilt trips when normal people want to fight back.
As if stopping extreme greed and corruption endemic to the hypercapitalist barons means that you're going to turn in to Hugo Chavez' revolutionary comrade tomorrow. GMAFB.
There has been NO transparency in this industry, which thanks to the Bushies, has been allowed to run wild and unchecked for years and years.
Exactly. It's Modern Republicanism Orthodoxy that ANY regulation or restriction on insider greed must be stopped, because it's "socialist".
This isn't an accident, it is intentional "Shock Capitalism".
Cuomo is a great american hero
Keith,
You don't have a clue on how the government works. they allow these things to happen so they come be the knigh tin shining armor that comes along to slay the big evil dragon and get their picture plastered all over the TV, magazines and newspapers. There is no glory in destroying the dragon's egg.
Uh, notice two things:
Cuomo is not in Washington.
Cuomo is not a Republican.
he didn't buy the Ayn Rand bum-sucking insane ideology, which is the true origin of the problem.
The pernicious ideology is "privatize the short-term fee-based profits, socialize the losses".
Except for a few, that's the modern GOP.
"What took Mr. Cuomo so long?"
Well, really, WAMU is a FEDERALLY charted bank, so the DoJ should be taking the lead. You know the DoJ, part of the BUSH Administration, most recently headed by the disgraced Alberto Gonzalez.
But no, the DoJ and the FBI are tracking falalfel purchases.
We are so screwed.
he didn't buy the Ayn Rand bum-sucking insane ideology, which is the true origin of the problem.
The pernicious ideology is "privatize the short-term fee-based profits, socialize the losses".
one visualises rand spinning in her grave after being characterised as in favour of the socialization of losses.
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