A Massive Bank Fraud that Calls for Jail Terms
Not a Mortgage Meltdown, Not a Sub-Prime Crisis
‘Tis the season to be jolly, but no one said it was a time to bail out criminals who properly belong in jail.
Not a Mortgage Meltdown, Not a Sub-Prime Crisis
‘Tis the season to be jolly, but no one said it was a time to bail out criminals who properly belong in jail.
I am sick to death of watching the hand-wringing on the part of our Treasury Secretary and Chairman of the Federal Reserve, when they ought properly to be searching for a special prosecutor and asking for indictments. Both Bernanke and Paulson came very late to this party, but they are misleading the country, perhaps criminally.
It is a federal crime (under the RICO Act) to aid, abet or participate in criminal activity as part of an ongoing criminal organization. What part of that does the Sec-Treas and Fed-Chairman not understand?
The balloon that has not yet gone up is public (and media) recognition of the extended and complicit fraud committed by lenders, mortgage packagers, h…