Senator Franken wants GMAC investigation!

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Well other politicians are getting into the pressure cooker toward the banks that are defrauding people of their homes.  We are working to get our state's politicians to do anything other than spend money on the problem.  We live in the 2nd largest state for foreclosures and there is no public addressing of the robo-signatures, fraud mortgages, fraud documentation or falsely recorded documents.  Banks lie in court on a daily basis and the numbers are staggering.   Go watch court and see for yourself. 


 Do you know how many courthouses in Phoenix alone deal with this?  How many cases daily?  That is just one major city.   Multiply that by all  cities  in all 50 states. .

See the below letter by  SENATOR FRANKIN.  If more of our political leaders would get involved then we might see some progress.  Sadly,  I do not think it will do anything for those in process other than halt things for a few months.   It seems the leaders are wanting investigations but do  they have the kahunas to return properties to those cheated? 

Today WALSH announced that there will be investigations into 7 banks. I am confused as to why GMAC or Ally is not on that list of 7 institutions being investigated.

Or will they just say fix the paperwork and ignore the UNDERLYING fraud on mortgages not to mention the  violations of Tila/respa laws?   If this is addressed in a meaningful way it might mean the writing off of milllions of fraudulent toxic cases. 

Thanks to the blogs on the right for keeping up with information, Thanks to google for always having links and thanks to new to me http://www.zerohedge.com for bringing to light the letter from Franken. 

Ally Financial Letter 09292010