Banksters Win Again

Mortgage fraud was one of the causes of the 2008 financial collapse. Mortgage brokers and lenders falsified documents, sometimes to make mortgages look safer, other times to make the property look more valuable.

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Four years after President Obama promised to crack down on mortgage fraud, his administration has quietly made the crime its lowest priority and has closed hundreds of cases after little or no investigation, the Justice Department’s internal watchdog said on Thursday.

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The F.B.I. received $196 million from the 2009 to 2011 fiscal years to investigate mortgage fraud, the report said, but the number of pending cases and agents investigating them dropped in 2011.

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[The] F.B.I. considered mortgage fraud to be its lowest-ranked national criminal priority. In several large cities, including New York and Los Angeles, F.B.I. agents either ranked mortgage fraud as a low priority or did not rank it at all.

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[Attorney General Eric Holder] announced in 2012 that prosecutors had charged 530 people over the previous year in cases related to mortgage fraud that had cost homeowners more than $1 billion.

Almost immediately, the Justice Department realized it could not back up those statistics, the inspector general said. After months of review, it became clear that only 107 people were charged.

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The $1 billion figure, it turned out, had been drastically inflated. It was actually $95 million

  NYT

This administration has faced no crisis as grave as the financial crisis and no crimes that harmed more people. That crisis set back an entire generation, which may not ever recover to the point at which it can achieve the hopes, dreams and ambitions it had before this happened. And this administration has completely failed to hold the people who did this accountable for their actions. In fact, those people have been rewarded.

  Digby

...but hey, do what you want...you will anyway.