A substantial percentage of Sarbanes-Oxley whistleblower cases filed were against financial institutions, including Fannie Mae and others. Many times details of accounting irregularities of mortgage brokerages, investment banks and other financial institions were provided to the Dept. of Labor as well as the Federal Judiciary and NOTHING WAS EVER DONE.
$700 billion - and no one saw it coming??
I find that hard to believe, especially in light of the fact that 80 or more Sarbanes-Oxley whistleblower cases were filed against financial institutions, including mortgage brokerages, investment banks and other financial institutions that are now currently screaming that they made bad decisions in regards to loans and leverage and need the American taxpayer to foot the bill. Boohoo. Many of these cases filed included details about the problems within the industry and they date back to 2003 or earlier. Four cases were filed against Fannie Mae, that outlined how Fannie Mae cooked their books to the tune of BILLIONS of $$$.
Here’s the problem, the same I ran into, so you discover the trouble within the company you are working for, get fired for not playing the corporate game, then there is no where you can go to report the problems. Dept. of Labor/OSHA - what a joke. What do THEY know about financial issues?
Nothing is done...........and no one seems to care.
They are caring now - again, it takes a disaster to get our government to pay attention to a problem. Prevention - OH NO, we could never do that.
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