Goldman Sachs: Justice is “Expensive and Slow-Moving”


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Originally, regulators in April 2011 had asked Goldman Sachs to find errors and mistakes in their foreclosure process for years 2009-2010 using an independent consulting firm.  The consultants were not so independent but that no longer matters.  The investigative process proved to be too time consuming and too expensive.  (Really, the search for justice for homeowners must be stopped when it is too expensive and too slow-moving!)

So the independent review process was stopped and new rules are being applied.  Rather than investigate individual homeowners improperly treated in foreclosure, the new rule just puts a monetary value on the process and Goldman Sachs will pay $135 million to borrowers and offer $195 million worth of relief.  Thus is fraud and illegal activity interpreted as being solved by means of a cash payment.  Goldman does not have to admit or deny wrongdoing or worry about a civil monetary penalty.

That is how fraud and corruption is papered over by the Federal Reserve and the Federal Reserve Bank of New York and no one is investigated or prosecuted for control fraud.  Individuals who caused the crisis continue in their roles.  The bank becomes the “person” responsible by paying a token fine decided upon by the regulators.  The individual homeowners who were mistreated are not given their day in court.

Justice is now construed as  throwing money at the problems caused by the control fraud committed by the banks.  Only Injustice is Being Served!

via Goldman Sachs: Information, Comments, Opinions and Facts: Goldman Sachs: Justice is “Expensive and Slow-Moving”.

via Goldman Sachs: Information, Comments, Opinions and Facts: Goldman Sachs: Justice is “Expensive and Slow-Moving”.

About Old Boy

Love the past and the future but live in the present

Posted on March 6, 2013, in buisiness, Government, International affairs, politics, UK, USA, Wealth and tagged , , , , , , , , . Bookmark the permalink. Leave a comment.

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