At GE, We Bring Good Things To Life



Come 'n get it Bitches!!!!!!!

 The wheels turn slowly but they do turn.  "Subprime lenders have long been in the cross hairs. They issued hundreds of billions of dollars in mortgages to people with shaky credit, then bundled the loans for sale to investors as highly rated securities. When the borrowers couldn't pay their mortgages, the investments collapsed — leaving investors and lenders saddled with toxic debt.

Lawsuits in state and federal courts have charged that WMC and GE misled investors and other parties in the sale of mortgages and mortgage-backed securities.
Eight former employees told iWatch News, a publication of the nonprofit, nonpartisan Center for Public Integrity, that WMC managers ignored them when they flagged loans supported by misrepresentations such as fake bank statements and pay stubs.

"They didn't want to hear what you found," Gail Roman, who worked as a loan auditor at a WMC office in New York, told iWatch. "Even if you had enough documentation to show that there was fraud or questionable activity."

“There is nothing more frightful than ignorance in action.” - Johann Wolfgang von Goethe

I'm guessing all of those loans were top quality deals...  "Under her leadership WMC’s production volume soared from less than $12 million to a $1 billion a month in 2004."

"what she most enjoys is feeling “that I’m helping to make the dream of home ownership real" (and the H*U*G*E fucking pay days don't hurt either!!!!!!!!!!!!!).   Give me a fucking break...

“My parents led me to believe that I could do anything,” she says... Well, you can in fact do anything but for doing some things, there might be a price to be paid....