General Discussion
In reply to the discussion: Matt Taibbi's New Rolling Stone Piece. WOW!!! [View all]JEB
(4,748 posts)others who saw some of this shit are inspired to also step forward. We know there are others who understood the wrong doings.
from the article:
Then, on December 15th, a Chase sales executive held a lengthy meeting with reps from GreenPoint and the diligence team to examine the remaining loans in the pool. When they got to the manicurist, Fleischmann remembers, one of the diligence guys finally caved under the pressure from the sales executive. "He had his hands up and just said, 'OK,' and he cleared it," says Fleischmann, adding that he was shaking his head "no" even as he was saying yes. Soon afterward, the error rate in the pool had magically dropped below 10 percent a threshold that itself had just been doubled to clear the way for this deal.
Read more: http://www.rollingstone.com/politics/news/the-9-billion-witness-20141106#ixzz3IMIhWTq1
Follow us: @rollingstone on Twitter | RollingStone on Facebook