Structured finance expert Janet Tavakoli made another powerful presentation regarding the ongoing fraud perpetrated by virtually every segment of the financial industry/captured government “regulators.” This was made to attendees of the Federal Housing Finance Agency’s Supervision Summit. One slide says
Banks (not borrowers) Broke the Law
Foreclosure Fraud (phony affidavits, i.e. perjury) is a crime.
- Delinquency is not a crime.
- Being foreclosed upon is not a crime.
- Bankruptcy is not a crime.
This is such a simple truth but seems to be lost on some of the financial cheerleader media, Wall Street, the bank lawyers, and the judges. Or willfully ignored…
Slide 32. Read the whole thing : Tavakoli Power Point at the FHFA Summit 120810; it’s good.