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Senate housing reform champions made money off of housing collapse

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Mortgage Professional America | 06 Jul 2016, 06:15 AM Agree 0
Two senators pushing for housing finance reform made millions from a fund that bet against the real estate market during the run-up to the financial collapse
  • | | 07 Jul 2016, 10:30 AM Agree 0
    Ryan--Why do you assume they knew nothing about what Pointer (the Tennessee investment fund) was doing, because their press peopel say so?

    Senators and their House colleagues lies all of the time. (Ergo, don't be quick to buy Corker's line about withdrawing from the Trump VP sweepstakes.)

    How does a Republican rookie Senator from Tennessee come together with a Democrat Senator from Virginia--both members of the Senate Banking Committee, which has jurisdiction over every US financial institution and their regulators--join to invest through a back water Tennessee fund??

    What abotu Corker famous national TV interview when he called on investors "to short" two of the nation's largest financial institutions, which, conveniently, he an Warner both oppose? Anything worth looking into there?

    Don't assume these guys were/are investment naifs.
  • Vote -corker out | | 07 Jul 2016, 07:09 PM Agree 0
    Why is corker or Warner allowed to make policy on any housing reform when they have investments against the housing market. I'm no expert but this sounds like stock fraud . I'm hoping some law enforcement agency is looking into this, hello sec. How does it make sense that public officials are making millions on policies the develop. Make sense now what corker and Warner are against Fannie and Freddie. I hope these two go to jail.
  • Mark Sam | | 15 Jul 2016, 02:50 PM Agree 0
    I wouldn't bet senator Warner didn't know. I reported in 2011 a suspected case of regional bank using insurance fraud to foreclose on high equity properties. I have since found check forged on an account to hide slander of credit enabling bank to push small woman owned business owner into bankruptcy and foreclosure. Bank also falsified evidence and lied to Federal Reserve Bank and to Senator Warner's office. When the complaint was brought up after the federal reserve bank investigator dismissed the case as no problems found (over 60k in lender forced insurance added in 18 months) Senator Warner's response was a very annoyed 'we do not get involved in civil matters'. Last I heard evidence of check forging, falsifying evidence in a civil case, stealing mortgage payments, check kiting and money laundering were felonies! Bank definitely lied as a response to Senator Warner's investigation. No one called this bank on these criminal felonies!!!!

    Of course the CEO and Pres of this bank was a sitting director on the federal reserve bank board at the time! Complainant lived in Virgina at the time also.

    Senator Warner should have forced a criminal investigation not pushed these criminal investigations off to a private resident of Virginia. Pushing these actions off on the private individual left her with zero protections when the money ran out for legal bills. Bank was worth around 120 million in 2000. In 2015 they were reported to be worth over 13 BILLION. Of course through the worst economy this country has ever seen, it was just good management. Couldn't possibly be the potential theft of mortgage holders properties combined with the potential money laundering could it.
  • Bruce R Nelson | | 15 Jul 2016, 04:53 PM Agree 0
    Yeah, thats always been a problem for me, not knowing where or why my MILLIONS of dollars came from. I always thought it was thru Ocwen who, no doubt in my mind made my "MILLIONS" from laundering "RL CHAPPOS Medelien Drug Cartel profits from HSBC and Ocwen helping poor ole MASS MURDERER El Chappo.....yeah thats right I just happened to forget what Goldman was making me rich with....heck I am just an innocent old Senator who sits around with my thumb up my ass. "scuse moi but I just plain out FORGOT why I was so rich (sumbeotches)
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