Top Bank Regulators Won't Commit To Releasing Reports On Illegal Foreclosures By Banks

[Purveyor]

Source: ASSOCIATED PRESS

DANIEL WAGNER AP Business Writer

12:28 p.m. EDT, July 21, 2011
WASHINGTON (AP) — Banking regulators refused to commit to releasing details of their investigations into illegal foreclosure practices by the nation's largest banks.

Appearing before a Senate panel Thursday, Federal Reserve Chairman Ben Bernanke and Acting Comptroller of the Currency John Walsh said they had not decided whether to release reports on illegal practices by individual banks.

Sen. Robert Menendez, D-N.J, had pressed them to release the reports, banks' individual action plans and agreements with the consultants that investigated the banks. Menendez cited a report by the Associated Press this week that said banks are continuing to foreclose without doing the necessary paperwork, eight months after they had promised to stop.

"We will have to evaluate the individual documents and see if there is anything that would be of a confidential, supervisory nature," Walsh said, adding that his agency will release "some information."

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Read more: http://www.orlandosentinel.com/news/nationworld/sns-bc-apfn-us--financialoverhaul,0,4876654.story

[The Magistrate]

1. Time For Subpoenas And Contempt Citations, Sir

[chill_wind]

2. Taking a page from Geithner, we see.

I think he had to threatened with subpoena as well.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4979094&mesg_id=4982160

[No Elephants]

6. Most transparent administration ever.

Apparently, that meant posting a lot of press releases about what this administration considers its accomplishments.

(The lame list in 5 - 4 - 3 - )

[Proletariatprincess]

3. They own us.....

they don't need to show us no stinking docments! This whole investigation is just Kabuki theater to fool the masses into thinking that our government is doing it's job. It is not. Banksters ARE the government.

[bemildred]

4. The Congress needs to explain to these morons that they (the morons) do not decide such things. nt

[classysassy]

5. Who is in charge of the funny farm?

If an ordinary citizen refused to give congress information they need in order to protect its citizens,they the refusers would be behind bars tonight.Those criminals that protect their hoodlum friends need to be held accountable for their actions.Mr Holder where are you?

[No Elephants]

8. The pigs? Oh, wait, that was Animal Farm, not the funny farm Sorry.

[No Elephants]

7. Incredible arrogance. The people have no right to see reports compiled at their expense?

When are we going to remind these bozos that daring to refuse info to those who pay their salaries, perks and operating expenses is intolerable?

Let me guess. It has something to do with national security. (Heck, if copyright infringement is a terrorist act.....)

Let me also guess what "evaluate the individual documents" means in American English (as opposed to Newspeak).



"Citing a legal opinion by his staff, Menendez said the regulators are permitted to release the information if doing so was in the public's best interest.

"It is not acceptable to violate the law, and it is not acceptable to do robo-signings," Menendez said."


Good for Menendez.

[mulsh]

9. Isn't enough just knowing they did something? Jeeze you guys

sure are harsh on these diligent industry sock puppets -er mean honorable public servants

:sarcasm:

[surrealAmerican]

10. What's the point of doing an investigation ...

... at all, if the findings are kept secret?

[Volaris]

11. so ALL the inside players know exactly

how screwed they all will be if it EVER gets out to the public...as an incentive to work that much harder to make DAMN-sure that it never does.

I think it was one of the Rockafellers who said something like he would spend half his fortune, to protect the other half....

These are the same people who were pissed enough at FDR that they shot John and Bobby, what did you expect of them (really)-- That they would wake up this morning with a freshly-minted SOUL or something?

Silly rabbit...

Peace all