13 Years Later RBS “Pays Fine” to DoJ for Fraudulent MBS Scam
13 Years Later RBS “Pays Fine” to DoJ for Fraudulent MBS Scam by Rory – The Daily Coin
Is anyone surprised that another too big to jail member of the banking cabal is having a “fine” levied against their actions during the global fraud of mortgage backed securities between 2005-2007? It seems the Department of InJustice in the U.S. was in no big hurry to finally levy a fine against this criminal banking enterprise.
Notice the words, “fraud” or “crime” or any word that points to the actual truth of what happened is ever used. Wouldn’t want people to start understanding this is a criminal enterprise being operated through the U.K. government. We used to call this type of operation “socialist/communist” now we don’t bring attention to that reality unless, of course, it’s China, Russia or one of the other “enemies” of the Federal Reserve Note/U.S. government.
As reported by Market Watch earlier today
The Royal Bank of Scotland Group PLC RBS, +1.87% RBS, +2.61% on Thursday said it will pay $4.9 billion in a settlement with the U.S. Department of Justice over its role in the misselling of toxic mortgage-backed securities. In a statement, RBS said it will pay a civil monetary cash penalty of US $4.9 billion, linked to its issuance and underwriting of U.S. residential mortgage-backed securities between 2005 and 2007. The bank, which is 71% owned by the U.K. government, said $3.46 billion will be covered by existing provisions and it will take a charge of $1.44 billion in the second quarter. The proposed settlement is subject to the DOJ and RBS entering into a legally-binding agreement. Chief Executive Officer Ross McEwan said the settlement is a “milestone moment” for the bank. Market Watch
Like the good little bought and paid for “reporters of news” they are – the trading symbol and percentage change is published in case you wanted to support this criminal enterprise and help bring more heroin to your neighborhood or was it their support of terrorist organizations you wanted to help out – I get them mixed up. Oh, that’s right, RBS was “fined” for both of these crimes against humanity. But, it’s okay because mutual funds around the world enjoyed another move to the upside, so, it’s all good.