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Obama: Banks broke no laws

October 26, 2011
Brasscheck TV
10/23/2011

Today, from our sister site RealEcon TV, we have a video of President Obama, who is a creature of Wall St. himself, proclaiming that the ‘…banks broke no laws.”

Mixing sub-prime mortgages into a derivatives package and giving it a triple A credit rating is fraud. Is fraud no longer illegal?

Obama even squirms a little as he defends his buddies in banking, almost as if the lies tasted foul coming out of his mouth.

Max Keiser breaks it down for us on the Keiser Report…

3 Comments leave one →
  1. October 28, 2011 12:15 am

    Both rights, there are no low on the book that specifically address those action BUT I am taking a look at the fiduciary law. It surely can be interpreted as covering that. Obama is not supporting the bank the issue is worse than that. When Obama was elected, mostly by new votes and independents like us, he found himself among Hillary supporter and the Party insiders who left him little choice of selecting his staff. We raised all kind of hell as he left out those of us who elected him and the Party took over. Interestingly he stepped into a viper’s pit
    because most of those people wanted Hillary and set out to slide Obama out. Also Obama is a loyal trusty friend, I used his e-mail n his website to warn him of those vipers. Hard for him to conceive corruption so deep. By and By he admitted but given how crocked Congress is Obama would have been left totally alone to run the country. JFK was clear when he used TV to warn and ask for help “I am a prisoner here!” he said and did not survive it. We have to help him, exposure must come from us and we have been doing fairly well. He Knows he had to let go of Geithner but he has known him for so many years that he probably feel Geithner has the experience to now where the buttons to push without blowing up the place are located. Now lets start pushing, the protester should start demanding by names, targeting the key cause of problem. I keep mentioning the bribery law on the Congressional book for people taking money or gifts from special interest.have any idea what will happen to Congress if thew were to enforce that law? And talking about oaths, any one ever read the rules of citizenship,how many could loose it. Yes even if born here if you take another oath to a foreign nation you automatically loose your citizenship cannot serve two masters. Now lets me get on with the Fiduciary law and demand action.

  2. Rwolf permalink
    October 26, 2011 4:53 pm

    Seize Assets of Lenders, anyone Who Knowingly Made or Sold Fraudulent Mortgages!

    The U.S. Justice Department should make every effort to forfeit the ill-gotten gains of lenders, their executives, anyone that criminally or civilly is proven to have defrauded home loan borrowers or purchasers of mortgage-backed securities.

    Many foreclosed American homeowners don’t know they have “recourse mortgages” including equity credit lines that allow “lenders” to attach their subsequent income and assets to recover “lender loan losses not satisfied by foreclosure.”

    Mortgage lenders claim they did not breach a fiduciary relationship with borrowers by not disclosing high numbers of foreclosures in neighborhoods which they solicited making refinance and purchase money mortgage loans—when it appeared obvious increasing foreclosures would bring down property values leaving property buyers holding the bag. Lenders have responded that U.S. Law made them make loans to unqualified home buyers. While that excuse may serve lenders, why should lenders be protected from homeowner lawsuits for not disclosing large numbers of foreclosures in neighborhoods lenders solicited home loans? Lenders in such cases, should be prohibited from being able to go beyond the foreclosed property to collect from a foreclosed homeowner any amount not satisfied by lender foreclosure.

  3. October 26, 2011 1:21 pm

    Barney Franks and Chris Dodds are the reason the economy is in the STate it is in. Im sure they dids all kinds of things they shouldnt have, one is not looking out for the welfare of the American People and only THEMSELVES!! YOu dont have to be a rocket scientist to guess the things they did!!!

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