Banks lie, no way! You mean the Banskter Cartel is a global parasite on humanity. Who'd have thunk that. Help take down the JPMorgue the little man way, buy as much phyzz silver as you can. We can at least get one of them. And make some profits along the way.
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U.S. to 17 banks: You lied
http://www.marketwatch.com/story/us-sues-big-banks-over-mortgage-losses-2011-09-02?dist=afterbell
The Federal Housing Finance Agency, which oversees Fannie Mae FNMA +10.21% and Freddie Mac FMCC +10.53% , argues the banks misrepresented the quality of mortgage securities they put together and sold. It is seeking billions of dollars in compensation. The lawsuits were filed in federal court and announced after the close of trading on Friday. The New York Times had reported the suit earlier Friday.
The list of defendants is a who’s-who of mortgage finance:
Bank of America Corp. BAC -0.14% , Goldman Sachs Group Inc. GS -4.55% , J.P. Morgan & Chase & Co. JPM -0.09% , Citigroup Inc. C -5.33% , Deutsche Bank AG DB +1.15% , Barclays PLC BCS -0.19% , Nomura Holdings Inc. NMR +0.41% , Morgan Stanley MS -5.73% , Ally Financial Inc., Credit Suisse Group Inc. CS +0.07% , First Horizon National Corp. FHN -1.11% , General Electric Co. GE -2.72% , the HSBC North America Holdings unit of HSBC Holdings HBC +0.13% , The Royal Bank of Scotland Group PLC RBS +1.14% and Société Générale S.A. FR:GLE -6.65% .
FHFA filed separate lawsuits against Bank of America and its acquired Countrywide Financial Corp. and Merrill Lynch & Co. divisions.
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