Where are the Indictments?

Let’s be clear why there’s a mortgage deal: the banks broke the law. Several laws in fact, in ways that appear criminal as well as civil. Limiting their liability is the only reason the banks did a deal.

In this post I’m going to look at what the banks could be held liable for; how much liability “their” money persuaded law enforcers to ignore will be the next post. But one important kind of peace has not been bought: criminal. So as I detail the wrong doing exposed by the deal, I highlight the crimes our law enforcers seem to allege the bankers committed. After all, a liability release isn’t simply what it says, it’s what law enforcers do with their remaining freedom to act. If crimes were committed, and indictments don’t follow, the release is much broader than its text.

A close read of the complaint and the related language that precedes the releases (see Exhibits F and G) reveals:

1) broad origination fraud occurred but is weirdly not detailed in the complaint, probably for ugly, policy damaging political reasons;

2) HUD’s Office of Inspector General (and perhaps others) did a real investigation exposing apparently criminal and civil false claims and statements;

3) The United States Trustees did a real investigation documenting systemic stealing from debtors in bankruptcy and lying to the courts; and

4) the banks criminally abused our soldiers.

In all, at least three types of criminal conduct–False Claims Act violations, Servicemember Civil Relief Act violations, and False Statements violations–appear to have been substantiated.

So where are the indictments?

Rest here…

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4closureFraud.org