As it Unravels: Kucinich Grills Lewis of B of A

27 Jun

In this quite revealing (on both sides) ‘confrontation’ between Kucinich and Lewis it becomes obvious that not only is Lewis the latest scapegoat but that the Fed and Treasury are using Kucinich to look clean while still no one is reining in the lending ‘servicers’ ‘institutions’ or whatever their latest name is…

Those institutions who:

send money wires

hold depositors funds

run debit cards

loan funds

make mortgages

sell mortgages

service mortgages

borrow from the Fed

Loan to the ‘People’

Are transformed from lenders to ‘servicers’, collectors, and others
on behalf of mortgages they wrote…

After They Sold Them

It hardly matters about the 20 Billion Lewis admists to here,..

These ‘servicers’ are so awash in ‘money’ now …

That 20 Billion is a drop in the bucket

Compared to what has ‘flowed out’

The only question is…

To Where?

Government and Banks Blame Each Other – Victim or Perpetrator, Who’s Who?
And the answer is – us – how surprising.

Now Dennis, if you have the nads, take on Citi and the Fed.

That’s a bit much to ask. I know.


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