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Shahien Nasiripour: Confidential Federal Audits Accuse 5 Top Mortgage Firms of Defrauding Taxpayers Video

DemocracyNow.org - Shahien Nasiripour, senior business reporter of The Huffington Post, has revealed that a set of confidential federal audits accuse the nation's five largest mortgage companies of defrauding taxpayers in their handling of foreclosures on homes purchased with government-backed loans. The audits conclude the banks cheated the government by overvaluing their losses on foreclosed homes and submitting faulty and defective documents to get federal reimbursement. According to the audit, the banks - Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial - violated the False Claims Act, which protects the government from fraudulent billing. The findings have been referred to the Justice Department. Democracy Now! interviewed Shahien Nasiripour May 18th, 2011.

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Comments on "Shahien Nasiripour: Confidential Federal Audits Accuse 5 Top Mortgage Firms of Defrauding Taxpayers"

Democracy Now. You ...
Democracy Now. You can see it on the? tv screen in the back ground. ;-)

Great report....... ...
Great report.......write? more by pressuring government to bring up charges....it should stop .......

AUDIT CONFIRMS: ...
AUDIT CONFIRMS: Banks/Mortgage Firms cheated the government by overvaluing their losses on foreclosed homes and submitting? faulty and defective documents to get federal reimbursement. - [in a nutshell] Banks broke laws, lied, cheated to take our tax dollars and federal government is actually being tough? Why am I skeptical that any justice will be served...

thanks for sharing ...
thanks for sharing this with us, does anybody know what network this? airs on


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