This is nothing new. The board of directors of many banks all over the country are being sued for the same cause: "negligence."
The FDIC is trying to recoup some money from people who took out loans they could not pay for, for whatever reason.
THE REAL STORY and THE REAL TARGET should be the @ss h013s who take out these big loans, then file for bankruptcy protection then go out and rebuy the same property for half the money using an LLC/Corporation or other tax entity. CROOKS! Look no further than a local real estate owner/broker... Search headlines and it won't be too hard to find who I'm referring to.
More information about formatting options