Bank of America documents get released by Anonymous - 60 billion home mortgage fraud

[VitruvianDoc]

http://www.reddit.com/r/AskReddit/comments/g3oah/breaking_down_the_bank_of_america_leak_can_anyone/

The guy who leaked this information is a former employee of BofA. Since his firing BofA has ruined his life/credit/relationships and he will probably be in court for the rest of his life.

Bank of America made a lot of errors with their loan adjustments due to not updating and/or staying on top of things and subsequently forclosed a lot of homes that should not have been forclosed on. So the emails you see at the bottom of the page are BofA execs asking for the removal of certain DTN records from their Databases (from what i understand DTN's are like information records). The reason they are doing that is because they are being audited, and when the auditors look up the loans that should be tied to those DTN's and find that there is no existing DTN record, they will discount it as a system error and move on.

The result of this "deleting of DTN's" was some $60B worth of fraud on the part of Bank Of America in order to cover up the mistakes they made during the housing crisis.

These emails are just the first ones released, but they are clearly TO and FROM BofA execs, asking for the deletion of DTN's from the system and even a response from one exec saying, "Are you sure we can do this"??

Direct source: www.bankofA$$holes.com

 

[MaddSkillz]

Wait! I thought it was all the homeowners fault!!

 

[cjjtulsa]

Shocked! Shocked I say!

They keep releasing things like this, and the sheep won't know who the bad guys are anymore....the bad guys, or the people the press tell them are the bad guys.

 

[Tinbender75]

Disgusting!! Thank god for the bailouts!!

 

[Crosstimbers Okie]

L-E-N-D-E-R F-R-A-U-D.

Homeowners need to use the fact of fraud to negotiate new mortgages rather than rolling over and taking it in the ass through foreclosure.

 

[Young Guns]

we are in the process of dealing with them ourselves right now. we had to sue them to get anywhere with them. i will never use them for ANYTHING again.

 

[Model 70]

I noticed some guy named. Ben E posting about how profits made by the Fed actually flow back to the government. What BS. Has anyone here read a book titled "The Creature from Jekyll Island"? Give it a read sometime. It's an eyeball opener for sure. In a nutshell, The Fed (Federal Reserve Bank) is nothing more than a consortium of the Largest Banks in the country. When they got the nation to go off of the gold standard it was Katy bar the door and look out for the common man, hello inflation and goodbye to responsible banking. Just what is Fractional Reserve Banking? You should find out. Oops, hijack in progress.

 

[MaddSkillz]

I noticed some guy named. Ben E posting about how profits made by the Fed actually flow back to the government. What BS. Has anyone here read a book titled "The Creature from Jekyll Island"? Give it a read sometime. It's an eyeball opener for sure. In a nutshell, The Fed (Federal Reserve Bank) is nothing more than a consortium of the Largest Banks in the country. When they got the nation to go off of the gold standard it was Katy bar the door and look out for the common man, hello inflation and goodbye to responsible banking. Just what is Fractional Reserve Banking? You should find out. Oops, hijack in progress.

That book rules! Highly recommend it as well!

 

[LightningCrash]

Just what is Fractional Reserve Banking? You should find out.

I'm not sure that is cogent. Are you saying we didn't use factional reserve banking prior to 1913?

 

[Model 70]

Cogent? Perhaps not to the original content of the thread, and I do apologize for the deviation from the original thread subject.
Sure, fractional banking was used by some banks that were willing to hang way out in the breeze as far as risk went. For the banks, it's all about the interest payments. The more that they had out in loans, the more that they could expect back on a monthly basis. However, they did not have the group protection that is enjoyed today by the backers of the FED. Back in the day, a run on a bank would put it out of business, bankrupt as it were. That won't happen today. Even back in the fifties and sixties, a phone call was all it took for a bank that was experiencing a run to have a sudden influx of fiat money to cover their shorts (pun intended) and the books just kept on collecting interest.