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View Diary: BREAKING: Justice Dept Misled Public on Mortgage Fraud Probes, Eviscerated By Inspector General (248 comments)

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  •  You are right Catte Nappe (1+ / 0-)
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    Catte Nappe

    The report indicated that the Feds bifurcated the big-time Wall Street bank loan swindles from the bank-office-level rip-offs, by classifying the Wall Street swindles as financial fraud, not mortgage fraud.

    Nonetheless, I feel neither classification of fraud was adequately prosecuted, given the massive financial impacts. My reading of the report indicates that the "liar" loans and robo-signings fell under mortgage fraud.

    The report didn't make it plain whether the Feds went whole-hog after the participants in those earlier abuses.

    “The answer must be, I think, that beauty and grace are performed whether or not we will or sense them. The least we can do is try to be there.” ― Annie Dillard, Pilgrim at Tinker Creek

    by 6412093 on Fri Mar 14, 2014 at 11:32:15 AM PDT

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