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Sunday, August 3, 2014

Randy Wray — Setting the Record Straight One More Time: BofA’s Rebecca Mairone Fined $1Million; BofA Must Pay $1.3Billion

It doesn’t have to be this way. Stop the fraudsters. Stop the foreclosures. There should be an immediate 5 year Country-Wide moratorium on foreclosures. Investigate the fraud. Jail the fraudsters. Put the biggest banks into receivership. Begin to clean-up the document mess created by the banks and MERS (the banks lost or destroyed all the records of property ownership). Our economy will not recover until this is done.
Economonitor — Great Leap Forward
Setting the Record Straight One More Time: BofA’s Rebecca Mairone Fined $1Million; BofA Must Pay $1.3BillionL. Randall Wray | Professor of Economics, University of Missouri at Kansas City
Crossposted at New Economics Perspectives
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1 comment:

  1. googleheimAugust 4, 2014 at 1:52 AM

    BOA rigged my business line of credit interest rate. Intro letter states WSJ prime plus 4.25% margin. When interest rates dropped during year 2008-2010 my LOC stayed at peak.

    Meanwhile they rigged the LIBOR to
    Fall so they BoA would not have to pay the municipalities the CDO swaps

    Win win

    Baseball hotdogs apple pie
    And LIBOR rigging.

    ReplyDelete