Thursday, October 20, 2011

Where Mortgage-Related Fraud Is Found, Justice Is Not Equal

The feds are bringing criminal charges against some alleged local mortgage fraud perpetrators. The charges are serious and it looks like jail or prison time is coming.

So be it. Anyone who had a hand in this national economic scandal should face criminal charges.

But where we have already had banks too big to fail, we've got some bankers who apparently are too big to jail.

The feds are alleging a massive mortgage-securities related scheme perpetrated by Citigroup by letting the Wall Street giant  settle and buy its way out through a civil complaint process...though Citigroup continues to report billions of dollars in profits that dwarf the amount of the proposed settlement...after having received the largest taxpayer-paid bailout to survive the crash it helped bring on by creating and selling and profiting from shady, toxic mortgage securities and manipulations.

And you wonder why the Occupy Wall Street movement has power?

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