WC Varones

Don't lend your hand to raise no flag atop no ship of fools

Greenspan's Body Count: Norman Rousseau

Norman Rousseau and his wife Oriane bought their house at 580 Wilshire Place, Newbury Park in 2000 for $225,000 with 30% down.

According to a lawsuit filed by the Rousseaus, in 2002, 2006, and 2007, during Greenspan's bubble, they were solicited by World Savings / Wachovia, now a unit of Wells Fargo, to refinance into dangerous Pay Option ARMs. The final 2007 loan was an egregious negative-amortization, 7.2% interest, $368,000 weapon of financial mass destruction.

Read the Rousseaus' lawsuit against Wells Fargo here.

On Sunday, as foreclosure loomed just two days away, Norman Rousseau went into his garage and shot himself to death.

Greenspan's Body Count stands at 213.

Photo credit: Jr. Deputy Accountant.

2 comments:

Anonymous said...

Another Boomer (Norman was 61 years old) who spent the bulk of his adult life in a bull market/boom times, yet still managed to royally screw up financially because of zero common sense.

One less geezer around stealing from their own children.

Allycalifornia said...

Anonymous, you are a piece of work. Are you just out of prison, or been out for a while now?

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