Fukushima Cs-137 Found in Beef, Milk, Vegetation, Beginning in 2011 Through now

Fukushima nuclear material reported in West Coast groundwater; It’s discharging into Pacific Ocean — Fallout also found in meat and fish from same area — “Routinely detected’ in plant life long after March 2011

 
Published: September 4th, 2014 at 11:02 am ET
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Diablo Canyon Power Plant (DCPP) Units 1 and 2 Annual Radiological Environmental Operating Report, published April 30, 2014: Isotopic releases occurred in Japan and were carried by the jet stream to the west coast of the United States… [DCPP] periodically detected cesium (Cs-137) within market fish and cow meat due to deposition of Cs-137 from [Fukushima]… Fukushima Cs-137 was detected within one sample of monitoring well… Cs-137 was detected in three samples of market fish most likely due to rainwater washout of Fukushima Cs-137… Cs-137 was detected in [a] 2013 meat samples due to the Fukushima Japan nuclear accidents. This detection occurred… in October… [DCPP] detected cesium within milk, vegetation, and meat throughout 2011 [and] continued to detect cesium within groundwater, fish, vegetation, and meat throughout 2012.

Diablo Canyon Power Plant Units 1 and 2 Annual Radiological Environmental Operating Report, Apr. 30, 2013: Throughout 2012 [we] continued to detect cesium (Cs-137) within milk, vegetation, monitoring wells, fish, and meat due to deposition of Cs-137 from that event… Concentrations of cesium (Cs-137) were also detected in two shallow monitoring wells… This cesium was evaluated and attributed to rain-washout of Fukushima fallout… Due to topography and site characteristics, this groundwater gradient flow discharged into the Pacific Ocean… Cs-137 was detected in three samples of fish most likely due to rainwater washout of Fukushima Cs-137… Cs-137 was detected in 2012 vegetation samples… due to rainwater washout of Fukushima Cs-137 [that] was absorbed by plant life and the soil. DCPP… has routinely detected Cs-137 in plant life since March of 2011 due to this Fukushima event… Cs-137 was detected in… [cow] meat samples due to the Fukushima Japan nuclear accidents… Vegetation uptake and subsequent digestion by the animals were the source of these Cs-137 isotopes into the meat.

See also: California Nuclear Plant Engineer: We were hit by explosion at Fukushima Unit 3 (MAP) — “The public started to freak out” — Tell colleagues what radioactive material is coming their way… don’t notify public — Don’t release initial data to officials until they’re ‘on board’

BANK OF AMERICA STRIKES AGAIN!!!

Bank Of America Mortgage Fraud: Feds Sue For Over $1 Billion Alleging Multi-Year Scheme

Posted: 10/24/2012 12:20 pm EDT Updated: 10/25/2012 10:27 am EDT

http://www.huffingtonpost.com/2012/10/24/bank-of-america-mortgage-fraud_n_2009791.html

Bank Of America, Bank Of America, Video, Bank Of America Fraud, Business News, Mortgage Fraud, Wells Fargo Lawsuit, Bank Of America Mortgage Fraud, Firsthand, Business News

Federal prosecutors sued Bank of America for $1 billion on Wednesday, alleging that the bank’s former Countrywide unit concocted a mortgage scheme it called the "Hustle" in order to sell thousands of fraudulent and otherwise defective mortgage loans to Fannie Mae and Freddie Mac.

"In order to increase the speed at which it originated and sold loans … Countrywide eliminated every single checkpoint on loan quality and compensated its employees solely based on the volume of loans originated," the lawsuit, filed in Manhattan federal district court, alleges.

This led to "rampant instances of fraud and other serious loan defects," all while Countrywide was telling Fannie Mae and Freddie Mac, which buy up mortgages for resale, that it had strengthened its lending requirements, the lawsuit claims.

When the loans "predictably" defaulted, Fannie and Freddie, which in 2008 required a massive taxpayer bailout due in large part to the purchase of toxic mortgages, incurred more than $1 billion in losses, the lawsuit alleges.

The mortgage scheme, called the "High Speed Swim Lane" or the "Hustle," for short, continued through 2009, well after Bank of America acquired Countrywide, according to the lawsuit.

In a statement, Manhattan U.S. Attorney Preet Bharara characterized the activity as "spectacularly brazen in scope."

Bank of America did not immediately respond to a request for comment.

The government’s lawsuit comes quick on the heels of two other high-profile mortgage fraud cases filed by federal and state law enforcement officials, who have taken fire for not aggressively pursuing those responsible for the financial crisis.

Earlier this month, New York Attorney General Eric Schneiderman sued Bear Stearns, now a unit of JPMorgan Chase, accusing it of stuffing mortgage bonds with bad loans without informing investors of the risk.

A week later, the Department of Justice sued Wells Fargo, claiming the bank lied about the quality of thousands of loans it certified for a federal insurance program. Both of those cases are pending.

The government’s case also comes after years of allegations by whistle-blowers that Countrywide railroaded borrowers into bad loans and in some cases even fraudulently altered documents so that they would qualify.

One of these whistleblowers, Eileen Foster, told the Center for Public Integrity last year that Countrywide allegedly used scissors, tape and Wite-Out to create fake bank statements, inflated property appraisals and other phony paperwork — and that the company tried to cover it up.

Countrywide was once the largest mortgage lender in the U.S. From 2004 to 2007, it originated more than $1.3 trillion in loans. But the company’s remarkable growth was built on the issuance of subprime mortgages, often to borrowers with bad credit or no ability to repay.

In 2007, though, market growth began to slow and air began to leak out of the housing bubble. The mortgage giants Fannie Mae and Freddie Mac, which own or control more than half of all loans in the U.S., began to push the lenders to impose stricter limits on underwriting, which is the process of qualifying someone for a home mortgage loan.

But rather than tightening up those standards, Countrywide crafted a new program meant to move more loans through the pipeline more quickly than before, according to internal documents in the lawsuit.

The lawsuit alleges that the aim of the Hustle was to have loans "move forward, never backward" and to remove unnecessary "toll gates" slowing down the loan origination process.

For instance, instead of reviewing the loans, Countrywide allegedly assigned critical underwriting tasks to loan processors who were previously considered unqualified even to answer borrower questions. The mortgage company also eliminated previously mandatory checklists that provided instructions on how to do this vital task, the lawsuit says.

"Under the Hustle, such instructions on proper underwriting were considered nothing more than unnecessary forms that would slow the swim lane down," the lawsuit says.

Countrywide put the new program in place in August 2007, just as Fannie and Freddie tightened their repurchase requirements due to escalating default rates. The company also concealed from Fannie and Freddie quality control reports that showed instances of fraud and other defects were "legion," the lawsuit alleges.

Specifically, the lawsuit says Countrywide’s own quality control reports identified defect rates of nearly 40 percent in some months, rates that were 10 times the standard industry defect rate.

One of these loans, which closed on Oct. 12, 2007, was made to a borrower in Tampa. Countrywide sold the loan to Fannie Mae with the promise that it complied with underwriting requirements.

But that’s not what a post-default review of the loan revealed, according to the lawsuit. The mortgage application showed that the borrower, a nurse, earned $8,000 a month, when in fact she earned $4,112 a month. Moreover, the home appraisal misrepresented the size of the home and the decline of home values in the neighborhood, the lawsuit says.

The loan defaulted 12 months after closing. Countrywide’s internal fraud investigator later confirmed fraud in connection with the loan.

The Bank of America lawsuit alleges violations of civil fraud statutes, meaning that potential penalties will be measured in dollar terms, not jail time. It also does not single out any current or former officials at the beleaguered bank or at Countrywide.

Bank of America purchased Countrywide in 2008, a decision that has cost the bank an estimated $40 billion in real-estate losses, legal expenses and settlements with state and federal agencies, the Wall Street Journal recently reported.

FDIC ($677.4 Billion) Charges Banks With Fraud, Illegal Underwriting Practices « Livinglies’s Weblog

http://livinglies.wordpress.com/2012/08/22/fdic-677-4-billion-charges-banks-with-fraud-illegal-underwriting-practices/

FDIC ($677.4 Billion) Charges Banks With Fraud, Illegal Underwriting Practices

Posted on August 22, 2012 by Neil Garfield

Has Obama Awakened?

Appraisal Fraud Alleged by this Blog

is found to be Centerpiece of this Action

Editor’s Note: The FDIC claims it studied a rough sampling of the securitized loans and alleges more than 60% of the loans packed into each deal contain material untrue or misleading statements.

In a resounding acceptance of the principles enunciated first on this blog, the FDIC, being the best regulator to file the charges, has moved against the big banks and servicers in the false scheme of securitization resulting in trillions in losses to the government, investors and homeowners.

Central to the allegations are that “defendants made untrue statements or omitted important information about such material facts as the loan-to-value ratios of the mortgage loans, the extent to which appraisals of the properties that secured the loans were performed in compliance with professional appraisal standards, the number of borrowers who did not live in the houses that secured their loans (that is, the number of properties that were not primary residences), and the extent to which the entities that made the loans disregarded their own standards in doing so.”

The allegations are so serious that it is unlikely that there will be any slap on the wrist coming out of this. The result of this lawsuit will have a profound impact on the housing market, the financial community and best of all, homeowners who have been using these allegations as defenses for years. It is apparent that the false premises upon which the bogus mortgage bonds were sold, combined with the complete avoidance of the supposed securitization scheme that was “in place,” has prompted this huge lawsuit. It is the tip of an iceberg where the administration is finally bringing the war to the door of the banks and will most likely lead to criminal charges as the cases progress.

The Federal Deposit Insurance Corp. filed three lawsuits against big banks, alleging the lenders misrepresented the quality of securitized loans sold to the now defunct Texas firm, Guaranty Bank.

The FDIC took Austin, Texas-based Guaranty Bank into receivership back in Aug. 2009.

This week, the regulator filed multiple lawsuits in Austin, Texas, suggesting Guaranty suffered major losses from toxic RMBS loans sold and packaged by mega banks and other financial institutions.

Defendants named in the multibillion-dollar lawsuits include CountrywideJPMorgan Chase ($38.04 0%)Ally Financial, Deutsche Bank Securities ($34.07 0%)Bank of America ($8.190%) and Goldman Sachs ($105.32 0%) among others.

FDIC, on behalf of Guaranty, claims the banks misrepresented loan-to-value ratios, underwriting criteria and appraisal amounts when selling, packaging and underwriting home loans that became collateral for mortgage securities sold to Guaranty.

Specifically, the FDIC alleges the financial firms violated federal and Texas securities laws by failing to fully disclose or truthfully represent the quality of mortgages backing the security certificates.

In the first case, the FDIC accuses Countrywide Securities, Bank of America, Deutsche Bank and Goldman Sachs of playing a role in the packaging, selling or securitization of mortgages sold off to Guaranty Bank for $1.5 billion. The suit says Guaranty Bank acquired 8 certificates in the transaction.

The FDIC claims it studied a rough sampling of the securitized loans and alleges more than 60% of the loans packed into each deal contain material untrue or misleading statements.

The FDIC is suing for an undetermined amount that is no less than $559.7 million in damages.

The bank regulator also sued Ally Securities, Goldman Sachs, Deutsche Bank Securities and JPMorgan Securities among others. In that suit, the regulator claims, the firms were involved in the packaging, underwriting and sale of eight RMBS certificates valued at $1.8 billion.

The FDIC alleged in court records that the “defendants made untrue statements or omitted important information about such material facts as the loan-to-value ratios of the mortgage loans, the extent to which appraisals of the properties that secured the loans were performed in compliance with professional appraisal standards, the number of borrowers who did not live in the houses that secured their loans (that is, the number of properties that were not primary residences), and the extent to which the entities that made the loans disregarded their own standards in doing so.”

In that complaint, the FDIC is asking for at least $900.6 million in damages.

The regulator also sued JPMorgan Securities, Merrill Lynch, RBS Securities and WaMu Asset Acceptance Corp., making similar claims about 20 RMBS certificates that Guaranty paid $2.1 billion to acquire. The FDIC is requesting at least $677.4 billion in damages.

FDIC ($677.4 Billion) Charges Banks With Fraud, Illegal Underwriting Practices « Livinglies’s Weblog