I would appreciate some thoughts on this action by ALL. This is a little out of character for ALL as they usually remain low key about these type issues.
It would seem to me this would be a tough case to win. One would think that a good defense is that ALL has professional investors and therefore expected to complete due diligence for an investment of this nature and size.
60 Minutes - Prosecuting Wall Street Fraud at Citigroup and Countrywide - DOJ on the Defensive
Is Sarbanes/Oxley a joke?
New Orleans Real Estate Transactions for Metairie, La.
Riverside Drive 538: Citigroup Mortgage Loan Trust 2007-WFHE1 Asset Backed Pass-Through Certificates Series to Qi Ji, $24,000.
(This was a real estate owned post-foreclosure home owned by a bank. Listed value $73,600, Condo with 1,050 Sqft. 3 bedrooms, 3 baths)
Was just thinking of the girls (no pun intended :),Kerri & Cori Rigsby and Anne Marie Vanderweghe after reading this article over at bloomberg:
How can a sophisticated Investor, or at least we tout that in our Investment Department, blame others for their lack of due diligence. Where do you think Wilson got the good news about the CDS's from. Since Liddy was on Goldman's Board and Wilson' Mentor, do you not think that he would be aware of the potential earnings Paulson was touting with the bets and potential returns of CDS's. Think this will be a legal fee with minimal return since intelligent folks will question our lack of wisdom in buying the Junk Toxic Paper in the first place.
Here's looking at you kid!
We'll leave the porch light on for ya!
Huck "Tim" is going to whitewash the foreclosure fence.
Please read comments from Marianne
"the PSA (pooling and servicing agreement) holding the securitized notes between the trusts/hedgefunds - whose custodians are usually banks - dictates who and what tranche within and under what circumstances if any, any loan can be modified; google the American Securitization Forum and see how many times they prevailed in courts based on this constitutional concept.
HAMP was just a smokescreen."
BofA Leak Exposes Possible Force-Placed Insurance Fraud
Can an insurance company owned by a bank which securitized the subprime mortgages, which in turn securitized the HO insurance policies also securitize a "force-placed insurance policy" after the mortgage default using some offshore "RE" also owned by the insurance company?