Does First Magnus love Conspiracy Fiction as well as…
…its own fictitious lender guidelines?
The current fiction that First Magnus’ attorneys drafted and called suit is in line with their own fictitious lender guidelines: Fabricated and purehilarity. [nope, we did not misspell this, look at the link]
Their narrative is not fit for the court room.
The lawsuit is filled with utter viciousness and oozes witch hunt all over. Over a hundred pages of allegations and interpretations that will curl your toes. One will question, as our attorney did, how did they come up with that yarn? Even a screen writer could not have done a better job.
Bravo Ali Farhang, Fat Cat will submit your script to the American Writers Guild in Hollywood.
It is so much more cosmopolitan than
Seriously, Ali Farhang accomplished suing about sixty parties, and then pasted them all together into one big conspiracy, while failing to see the real conspiracy that is driven by misrepresentation of facts and lack of internal audits at First Magnus. Of course, how could he see all the facts, First Magnus pays him…
Does the board of First Magnus believe this hoax? While the bottom is falling out of their business, they very well may. Motivation wise it makes sense, it is an easy way out of the board’s fiduciary obligation to its investors:
“See, we could not help this, we got conned by these 60 guys, the Cosa Nostra.”
This all makes for great suspense, albeit far away from the truth. Just the sheer coordination of all the 60 parties committing the alleged fraud is an impractical nightmare. Like: “Who is buying who off?”, “Who is conning whom?” divided over the dexterity of 60 people. Come on now, Fat Cat is in the public eye and not that dumb to be the Godfather.
Is First Magnus “The Godfather”?
First Magnus’ story may work well in the movies a la “The Godfather” and their ring of gun toting conspirators.
We do not know anybody in these circles except for maybe the entourage of Father Hill with their holy shot guns that we found in his blessed shrine and gave to the police. Talk about bad apples, what a creep he is.
First Magnus needs to look at its own conspiracy of licensed employees and upper management that was always ready to make a fast buck.
Years of negligent underwriting and loose guidelines are no longer hidden by fast appreciating real estate prices.
The roof is caving in, no it is collapsing. That hurts…
Who’s to blame now?
More about the state of the mortgage industry and First Magnus tomorrow.
Our facts will shock you.
UPDATE: First Magnus closed its doors today, even we did not expect it this soon.
Filed under: Miscellaneous
