Interesting but how can such actions be stopped.
Nearly a decade after the crash of the U.S. Housing market, the Obama adminstration continues to pursue claims against large financial institutions accused of contributing to the crash. For instance, in the past three years the Department of Justice (DOJ) settled with JPMorgan Chase & CO. in November 2013, Citigroup Inc. in July 2014, and Bank of America in August in 2014. These settlements concerned allegations related to the issuance of residential mortgage backed securities, and collectively these three settlements alone have totaled $36.65 billion in payments from the banks to various federal, state, non-governmental organizations, and direct consumer relief.
In a report released on Thursday by the Senate Homeland Security and Governmental Affairs Committee detailing how the DOJ has essentially become a massive crime syndicate in the business of shaking down financial institutions, the report noted that the DOJ’s Housing settlements removed millions of dollars of third party…
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