SAN JOSE, Calif. -- When California wildfires ruined their jewelry business, Tony Becker and his wife fell months behind on their mortgage payments and experienced firsthand the perils of subprime mortgages.
The couple wound up in a desperate, six-year fight to keep their modest, 1,500-square-foot San Jose home, a struggle that pushed them into bankruptcy.
The lender with whom they sparred, however, wasn't the one that had written their loans. It was an obscure subsidiary of Wall Street colossus Goldman Sachs Group .
Goldman spent years buying hundreds of thousands of subprime mortgages, many of them from some of the more unsavory lenders in the business, and packaging them into high-yield bonds. Now that the bottom has fallen out of that market, Goldman finds itself in a different role: as the big banker that takes homes away from folks such as the Beckers.
The couple alleges that Goldman declined for three years to confirm their suspicions that it had bought their mortgages from a subprime lender, even after they wrote to Goldman's then-Chief Executive Henry Paulson -- later U.S. Treasury secretary -- in 2003.
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Goldman Sachs is an Enemy Combatant!
ReplyDeleteGS = scum
ReplyDeleteGoldman Sachs is brilliantly evil. At some point these foreclosures will start a firefight between evicted residents/neighbors/supporters/defenders, and those uniformed servants who have the unfortunate job of enforcing kangaroo court seizure orders. Then shortly after the country devolves into a "anti-domestic terrorist" police state, it will be divided, weakened, impoverished, and ready to follow under the "security" of a NWO government authority. Americans must allow their own military (Marines, Army, Navy, Air Force) to recognize and neutralize the domestic enemies in our midst to restore the nation to law abiding, hardworking free people under **US Constitutional** authority. Pray the military has not fallen under Goldman's magic money/power spell. Semper Fi.
ReplyDeleteDon't bother me none. They'll have their day in Hell.
ReplyDelete..and one day in hell is as a trillion billion zillion years in .... well , hell.
ReplyDelete