IndyMac was one of the most notorious fraudulent lenders in America. It specialized in making liar’s loans and again, I want to emphasize that there’s testimony in front of the Federal Reserve by the top attorney generals, state attorney generals, who investigated these kinds of frauds. And they said that overwhelmingly the frauds came from the lenders, as opposed to the borrowers. And the incidence of fraud in these liar’s loans, according to the industry’s own anti-fraud experts, was 90%. So, what did these and Goldman Sachs decide to do? Well, create a fund to buy this most-notorious fraudulent entity, and did they do it so they could provide recompense to the victims of the fraud, the borrowers? No, of course not. They did it so that they could start this aggressive wave of foreclosing on the fraudulently originated loans double-victimizing the people that took out these loans.
Mr. Mnuchin, our new Mr. Money, bought IndyMac, and then went on to double victimize victims of bank fraud and he sold the bank and made a ton of cake. Yeah!!!! That’s making the 1% great again!!!
The sad truth is that President TrumpNutz doesn’t have the corner on this market, Hilz would have pulled a very similar move.
And that’s how fucked we are!!