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Search All the Documents in the FCIC’s Treasure Trove

After the Financial Crisis Inquiry Commission released its final report last Thursday, many considered it a rather lackluster report telling us little more than what we already know. But while the 662-page report may not be a page-turner, the panel also released a really valuable cache of documents. We've put the complete archive into our document viewer. (The FCIC's site also has the archive, though its search is clunkier and often turns up fewer results.) 

We’ve already dipped into it and found documents confirming the conclusion of our investigation of the hedge fund Magnetar and its role in creating CDOs that it bet against.

There are hundreds of other documents out there. A few quick searches on “transcript," “email CDO,” and names of execs turned up these interesting items:

  • Transcript from a July 2007 phone conversation between two AIG executives discussing potential Goldman losses as being “a fucking number that’s well bigger than we ever planned for.” 
     
  • The full text of the famous email between former Bear Sterns hedge fund managers Matt Tannin and Ralph Cioffi. Prosecutors built a fraud case against the two based heavily on the emails, in which Tannin and Cioffi describe the entire subprime market as “toast” just days before they told investors that their funds were in good shape. The two were found not guilty of lying to investors.
     
  • Also from Matt Tannin: Diary of a Bear Sterns Manager

  • A 2007 email from Moody’s CDO rating head to Moody’s CEO regarding the CDO market, noting that Merrill Lynch, Citigroup and UBS were “furiously doing transactions to clear out their warehouses,” even though the products weren’t selling well. (Related: See paragraph four of our story about banks’ self-dealing.)
     
  • And who could forget the famous emails from Goldman executive Fabrice Tourre? Torre famously dubbed himself the “fabulous Fab” in this email describing the “complex, highly levered exotic trades” he created as “monstruosities” and—with a winky face—joking that he was good at convincing himself of the “humble, noble, and ethical reason” behind his job.

Check out the full archive of documents.

Fabulous job ProPublica!  Now please do a report on the “secret deal” that the banks made with homeowners when they sold us our homes and mortgages for a nominal fee so they could participate in the BIGGEST PONZI SCHEME IN HISTORY using OUR PAID OFF COLLATERAL.  The banks wanted us to SHARE THE WEALTH in their FREE MARKET CAPITALISM PONZI SCHEME UP ON WALL STREET. THANK YOU VERY MUCH TO THE BANKS.  That was VERY FREE MARKET CAPITALIST AMERICAN DEMOCRACY OF THEM. They wanted to share with ALL OF US THE WEALTH. THEY CREATED BY USING OUR COLLATERAL AND SOLD US OUR HOMES FOR A NOMINAL A FEE. The top 1% are just being greedy FORCING THE BANKS to IMPOSE FALSE DEBT LOAN MODS FOR LOANS THAT DO NOT EXIST OR FRAUDCLOSE OR HOUSE STEAL VIA A DEED IN LIEU .  Thanks to the banks our HOMES ARE PAID FOR FREE AND CLEAR.  OUR Government MUST STOP allowing the top 1% to control them and IMPOSE this GIANT KLEPTOCRACY ON TO IT’S OWN PEOPLE. It is completely UNAMERICAN AND UNDEMOCRATIC. THEY SHOULD BE ASHAMED OF THEMSELVES TRYING TO USE THE BANKS AS A SCAPEGOAT FOR THEIR OWN GREEDY GAIN.The banks want to be stopped and are calling out our Government to stop them this is why they are abandoning homes instead of foreclosing because they DO NOT OWN THE PROPERTY and that is also why they are presenting fraud upon the courts trying to FRAUDCLOSE and cannot give FAKE LOAN MODS FOR DEBT THAT DOES NOT EXIST. THAT WOULD BE FORCING THE BANKS TO COMMIT FRAUD ON THE PEOPLE. COME ON PRESIDENT OBAMA, YOU MUST PLACE AND INDEFINITE NATIONWIDE MORATORIUM ON ALL FORECLOSURES, IMMEDIATELY. THE PEOPLE KNOW THE TRUTH. If this does not happen IMMEDIATELY, NO ONE SHOULD VOTE FOR ANY OF THEM NEXT ELECTION BECAUSE IT WILL SURELY BE PROVEN EVERYTHING IS RIGGED AND AMERICAN DEMOCRACY NO LONGER EXISTS, AMERICAN DEMOCRACY WAS SOLD OUT TO THE RICHEST PEOPLE IN THE WORLD and then WE NEED TO TAKE OUR COUNTRY BACK FROM THE TYRANTS AND THEIVES WHO STOLE IT.  GOD BLESS AMERICA!!!

Death to the facsist Oligarchy that has hijacked our Country and our Democracy. They are opressing the masses via the theft of what is ours. It is a war machine and an Oligarchy trying to control the world via a Kleptocracy and is intentionally creating ghetto scenes all across America and the entire world. They are intentionally creating a Universal Weimar Republic via CLASS WARFARE. They bought and therefore rigged everything in their favor.America must not be apathetic to this hijacking of our free market system. Screw Corporate America, become an entrepenauer or they will control every aspect of your life by controlling what you make and therefore impoverishing all of us. 4 corporations own the entire “free market” system. We must educate ourselves. Hitler said:  “How fortunate for the leaders that the masses do not think.” We need to THINK OUTSIDE OF THE BOX alot more and never drink the mainstream media’a kool-aid. These people are trying to control the masses by dumbing us down and creating a living lie. Those living a lie can be easily controlled through that lie.

Think outside of the box and go to other sources for information.Watch RT news or go to RT.com,the Keiser Report, the forbiddenknowledge.com, read about the black pope go to you tube and search black pope Check out 4closurefraud.org. Search the web for the meanings behind symbols and signs that are used by the mainstream everyday. Their true use and meaning may surprise you like the number of points used on stars by corporate america.

Just saw “The Inside Job”, a film that documents much of what is wrong with the world banking system as far as non-bankers are concerned. My two companions were surprised to hear about the connection between the institutions of higher learning, such as Harvard, and the banks.
What is abundantly clear is that the public is duped largely because the public is not empowered. Who among us feels less smart than a banker? Why? When someone tells you they are smarter than you are so they deserve a higher compensation rate you have to buy into their argument.
Congress should “just say no” to any request by financiers to guarantee any financial instruments members do not understand.

Nissim Sasson

Jan. 31, 2011, 6:18 p.m.

Good comments Linda I will add that is not 4 but 6 corporations that are controlling our Gov and the USA
Pharmaceuticals, Defense Contractors, Oil Companies, Telecommunications, Farmers corporations (subsides), and Financial corporations (Goldman Sachs Banks)
they control the country

Nissim Sasson

Jan. 31, 2011, 6:19 p.m.

By the way inside job is an excellent movie i will recommend all the USA to watch it and wake up !

@Nissim Sasson, They are all of these. Goldman Sachs is the leader of the pack. They are one of the biggest Vatican-Jesuit-SMOM Individual banking proxies. The Nazi’s are trying to blame the Jews for everything.

When will we the people do as the Egyptians have done?
YES, the 1% own ?everything? !  Our TV’s turn us off and we sit and watch. Games and food but no say in what our country is about.    Our Congressman earnestly follows what the rich guys tell him.  Try to have a meaningful conversation with his staff. “I don’t understand what you are saying.”

Linda The Banks are bigger and more powerful than Ever, Wells Fargo is now Wells Fargo/Wachovia, Bank of america is now BoA/Countrywide/MerrilLynch, Chase is Now Chase/Wamu/JP Morgan/Bean Stearns, Goldman Sachs is only Goldman Sachs but that is Because Goldman Sachs is the Government !

The Federal courts are corrupt look at
Taylor,Bean& Whitaker bankruptcy court in
Jacksonville FL look at all their connections
TBW had lied cheated and stolen peoples homes
Now tax payer dollars are making them richer
Largest bank robbery in the United States being
Played out in this court
They need to be stopped

acmodspecialists

Feb. 1, 2011, 4:07 a.m.

Who has not seen the lack of standing, inconsistent allegations, evidence of robosigning, fabricated allonges, promissory notes endorsed to non-parties, assignments of mortgage to and from defunct institutions, unauthenticated powers-of-attorney, unsigned promissory notes,  cut-and-paste recorded documents, the fabricated nonsensical land record documents, “original documents” alleged to be originals,  willful disregard of Rules of Civil Procedure including the year old foreclosure complaint verification rule, the mill lawyers’ confessions of “lack of candor to the court”, countless examples of sewer service, inappropriately appointed court guardians for defendants who received service of process,  mortgage servicer abuses and manufactured foreclosures; inappropriate forced-placed insurance, dual-track modification scam, wrongly applied late fees, unexplained increased in escrow requirements, modification payments held in opaque “suspense accounts”, late fees accruing during trial modification periods, manufactured manufactured defaults, etc just to mention a few violations perpetrated by banks and servicers

John F. Mc Graw

Feb. 1, 2011, 1:20 p.m.

Read Michael Lewis “The Big Short” for a stunning narrative of the world of CDO’s and CDS’s and of the craven and despicable actions of the merchant banks and their minions to knowingly cheat investors.

cathy lawrence

Feb. 2, 2011, 11:28 a.m.

Why are commenters SHOUTING? Facts in ProPublica investigations are not invitations to conspiracy rants. This is a community space, not a soapbox. Please keep it civil and on point.

acmodspecialists

Feb. 2, 2011, 10:16 p.m.

cathy lawrence, civil? read again my comment yesterday at 4:07 am do you think the banks are civil?

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