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.

4 comments
Ben Calvin
Ben Calvin

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

LiberatedCit
LiberatedCit

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?

 

Donovan: Taxpayer bailout option still in play for FHAPublished on December 10, 2012

 

http://bankcreditnews.com/news/donovan-taxpayer-bailout-option-still-in-play-for-fha/6410/

 

The FHA: Next Government Bailout?

 

http://www.businessweek.com/articles/2012-12-11/the-fha-next-government-bailout

 

Corporate Crime, Russia, Peter Orszag and Getting Away with Murder

 

http://corporatecrimereporter.com/morgenson07282011.htm

 

Obama's Budget Has One Small, Missing Piece.... For $6.3 Trillion Dollars

 

http://www.zerohedge.com/article/obamas-budget-has-one-small-missing-piece-63-trillion-dollars

 

Unlimited credit for GSEs seen as backdoor bailout

 

http://www.reuters.com/article/2010/01/05/us-usa-housing-bailout-idUSTRE6044YU20100105

 

GSEs Remain Backdoor Bailouts for Banks

 

http://www.ritholtz.com/blog/2012/09/gses-remain-backdoor-bailouts-for-banks/

 

Is Fannie bailing out the banks?

 

http://finance.fortune.cnn.com/2011/01/03/is-fannie-bailing-out-the-banks/

 

Barack’s Wall Street Problem is Now America’s

 

http://www.noquarterusa.net/blog/4939/baracks-wall-street-problem-is-now-americas/

 

Report: Cronyism, political donations likely behind Obama, Holder failure to charge any bankers after 2008 financial meltdown

 

http://dailycaller.com/2012/08/07/report-cronyism-political-donations-likely-behind-obama-holder-failure-to-charge-any-bankers-after-2008-financial-meltdown/

 

Nick Lucko
Nick Lucko

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

Geo James
Geo James

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