Catherine Austin Fitts – Wells Fargo has admitted to creating 2 million phony bank accounts. Speaking as the former Assistant Secretary of Housing – FHA Commissioner, my questions are:
- How many credit cards were issued to the phony account holders?
- How many auto loans were originated for the phony holders?
- How many mortgage loans were originated for the phony holders?
Moreover, if credit cards and loans were associated with these accounts:
- Who provided related auto and housing insurance?
- How many of the mortgage loans were insured by VA or FHA?
- How many mortgage loans were securitized by Freddie Mac, Fannie Mae, and Ginnie Mae?
- Who are the private investors who bought the related securities?
- Are they being paid an above market return?
- Are any of these securities being purchased by central banks? If so, which ones?
- Where did the proceeds of all the mortgages and related securities go?