Cronimerica: Obama Advisor Who Sued Wells Fargo, Now Going to Work for Wells Fargo

These guys just can’t help themselves. The money is just too big.

Bob Ryan, after spending 26 years at Freddie Mac, left that disaster to join the Obama administration as a senior advisor in the Department of Housing and Urban Development. While there, he helped craft the $25 billion mortgage settlement with the big banks.

Though this might sound like a lot, and it is, the settlement is a pittance compared to the potential exposure the banks might have had to deal with, if the lenders had been held fully accountable for the robo-signing scandal and other foreclosure related abuses.

And, never forget that for the most part the lenders who have foreclosed on the most homes balanced their books worse than the people being foreclosed on. The big difference, being of course, that the lenders are “too big to fail.” That family down the street is not.

So it shouldn’t surprise us that a guy who sued Wells Fargo is now leaving government to go work for Wells Fargo. This is the new normal. Hustle in government and out of government. This is the path to riches in Cronimerica.

Ben Calvin
Ben Calvin 5pts

These kinds of reports almost seem like comedy gold. First the Johnson and Johnson story now this. Many lulz for the holidays.

LiberatedCit 5pts

What about Orzag he was O's budget director they kept $6.3 Trillion of GSE debt off O's budget. After telling Congress the GSE's were safe lol he went to work for CITI Fraud. The banks all who backed Obama heavily in 08 have been using the GSE's as a backdoor bailout ever since.  And guess who might have to bail them out again?


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Nick Lucko
Nick Lucko 5pts

One more item on the list of tens of thousands of reasons why we need a Revolution.

Geo James
Geo James 5pts

Most people still don't get it this is just a game its theater. The Bankster And the politician; Pimp and whore. Criminal pieces of sh*t