Mortgage Fraud Epidemic: How the FBI Blew It and Why There's No 'Perp Walks'

What we need is to do away with the federal reserve. Cheap money is the cause, of "bubbles" not banking regulation. The other fix is already on the books. If the FTC would enforce the antitrust laws there wouldn't be any companies that are too big to fail.

What we need is to do away with the federal reserve. Cheap money is the cause, of "bubbles" not banking regulation. The other fix is already on the books. If the FTC would enforce the antitrust laws there wouldn't be any companies that are too big to fail.

Great revelation...it is a shame taxpayers accept corruption with little outrage...the citizens now assume our business and government leaders are enabling or committing fraud on a routine basis and that corruption is the established normalcy. History has shown this will lead to ruin in the form of dictatorships...once leaders are no longer accountable to the people they serve, the people become powerless because they choose to do so.

Ah yes, yes, yes, how about that. Where's Blodget? Let see why he isn't in the boys playpen. Secirities Fraud to well let's see I'm an expert but don't ask me why???

I think the american taxpayer (who continues to throw this 'class' lifeline after lifeline) wants some kind of 'justice'. These who caused this crisis don't have to worry about money - they earned as much in a year as SEVERAL families entire lifetimes. It's unfortunate, and frustrating for those who work hard and are unwilling to be so shrewd to be 'successful'. There is fraud in every industry, at every level, employee theft is rampant - the difference here is rather than a clerk slipping a $20 in thier pockets at the register it's an offense at a totally different level - where the 'executives' are doing EVERYTHING POSSIBLE TO MAKE BONUS - BIG BIG BONUSES! Some would consider these folks brilliant - those paying for this now - US - don't see it exactly the same way.

In the current situation, even if all the fraudsters are found and convicted, there will not be any sufficient space in the Jails and further public money would be needed to build new ones ...

Well, this should be a two way street. The bankers and those that submitted false info in getting their piece of the American Dream. Theft in any form is wrong

The moment it became 'acceptable' to chose profitability over people this generation of leadership put it's own short term gains and personal success over that of everyone and everything around them! How many of us have worked for company where you saw your leadership squeeze every dollar possible out of your personal work and kick your ass to the curb, with nothing more than a 'it's business' as they put your stuff in a box. Does it make you resentful - why wouldn't it? Would you HONESTLY do anything different once you got into a position of power - wouldn't you do everything LEGALLY possible to drive yourself the largest bonus possible? Of Course, because you have not idea if you have a job tomorrow. We've created our own reality - it's dirty, ugly and dehumanizing.

What you are seeing is the end result of ignorant people voting. The people put these crooks into power...and then re-elect the incumbent...time and time again. Get a clue. Why are there not revolts? Where is the civil war? Where is the protest in the street? Middle class effective tax rate will near 50% when you consider all taxes, sales tax, state and federal taxes, property taxes...just tax the hell out of us...nobody is going to voice enough to say otherwise. A tea party...I like the notion...but that will be more of a parade than a political obstacle. GO ahead and try to fight them...we've armed this government with NUCLEAR weapons...good luck. Next when you see the Senate and the House vote to abolish term limits, know that you idiots got the change you asked for. I

this remindes me of the war on drugs they can't stop it because the crooks are smarter than the people who are supposed to enforce the rules or the laws

Mortgage Fraud, What about Auto Fraud Bigger,,,,Dealerships, Lenders, Managers, all want there commissions, they do what ever it takes to /cheat,,,,they are public company's, where are the regulations, and FBI, Sec,Judges, they all hide the truth by Arbritrations agreements, and the Famous "At Will State" Get real, Put them all in Jail.

WAKE UP PEOPLE. Let's talk about Mary...she makes 20k a year. She's all for Obamas plan because she only makes 20k a year...the taxes and fiscal policy will be paid by someone else. Well Mary, let's talk about nationalizing your health care....you used to make 20k a year but now you make 10k...but have total health insurance. But what if you never get sick Mary? You will continue to make 10k a year regardless....but by God, you got that government backed health care you've been asking for haven't you?

Of course these guys new the rules, of course these guys new that if they became 'to big to fail' that the government would step in... of course these guys new creating a real estate bubble and subsequent bust would get bailed out by the government - we ALL new that - that's why 90%+ of home buyers pay PMI. Did they exploit the system - not as much as they abused it. The greedy and the shrewd have strip mined the weath of no only our parents generation but our grandchildren! It's just too easy to steal from those we (the tax payers) don't see... our grandchildren - who aren't even born yet - will carry a burden of debt they had absolutely NOTHING to do with creating. BRILLIANT! Sadly, there is ZERO legislation to require our government to live/work within a balance budget - they have an open checkbook, and they are writing TRILLION DOLLAR CHECKS now.

I think every bank or mortgage company that is foreclosing on a property prove that there was no mortgage fraud in the original application and prove they have a legal lien on the property. Every family that is being foreclosed on should demand it.

Where is the outrage over the Freddie Mac and Fannie Mae "retention bonuses"? Another $216 million goiing to people that were a part of this problem as well. You can't tell me that the 7,500 people getting these bonuses did not know they were creating fraud.

It was not fraud that caused the housing bubble, it was a number of errors: 1) Al Greenspan, aka easy money. 2) The dems. in 1998 (Bill Clinton) allowing banks to become investment banks. 3) The dems. in congress (Barney and company) forcing banks to lend money to low income barrowers, with zero down payment and no proof of income. It was the "perfect storm". Now the same dems. in congress are attempting to fix the problem, with more easy money, bigger government, taxing the rich, and with socialism.

Not surprised at all.

We are now living in the biggest rip off of US taxpayers in this country history. The FBI is set up only to get the little guy. And lets the big fish alway go. Why? Because they are rich and we are poor. Plain and simple.

Not surprised at all. Considering my boss was trying to overturn my denials of loans for commercial properties that just couldn't support the loans.

After we fulfill the leftist media's dream of arresting all the bankers, can we also arrest the hundreds of thousands of people who lied on their loan applications? Too many welfare recipients who bought expensive houses are getting a free pass.