FBI Holds 406 for Mortgage Fraud

Disclosure - I work in the lending industry, at a Banker/Broker.

These cases all involve people who learned the rules of lending, and instead of being happy making piles of cash, wanted big piles of cash.

• They all went through background checks, and were hired by lic'd banks or brokers, or state lic'd appraisal firms, Realty Brokers etc.
• They each knew what they were doing was wrong - no one makes fraudulent documents, or sets up straw buyer programs and doesn't know that they're doing something wrong.

The thing that the FBI and the state banking regulators have been dumbfounded by with these cases is that most of these idiots weren't getting the "big payday" from their illicit activity. They were merely getting transactions. The normal amount of legal business they could have done was insufficient to appease their greed, so they began to break the law, to increase sales.

What your question misses is you are treating the problems as an either/ or, Republotard duality deal:

• These 406 idiots were cheating the system- Real estate agents, mortgage brokers, title companies and appraisers working together to enrich themselves, and betray the trust placed in them by their employers, and clients.
• The idiots running World Savings, CountryWide, and IndyMac and the rest of the "new paradigm" thinkers / crooks are also culpaple; they had to have had an idea that their were problems with the RE markets. If incomes are flat - at the state level according to the IRS, and applications for truck drivers are showing "stated" income of $12,000/ month, and values are skyrocketing, then one piece of the lender's equation is false. Money is lent based on how much people can pay - if incomes are flat, and values are hoing up, then the % of money needed for down payments should have been held steady and that means down payments should have been increasing. They weren't, because borrowers didn't have the funds.
• The Ayn Randian, FreeMarketeers at the Fed are also at fault. It was their job to watch the players, and they chose to not provide oversight. In the same way Sherrif Joke chooses to not enforce fealony warrants but instead go after poor dumb immigrants - actually protecting the public from dangerous, violent crooks is scary. Freemarketeers would rather let everything go to s*** then let adults pick up the mess.

The Ayn Randian, FreeMarketeers at the Fed are also at fault. It was their job to watch the players, and they chose to not provide oversight.

LIAR,

This IS your Blue TEAM/Red TEAM Corportists, who like Billy Boy Clinton REREGULATED the Banking industry.......

These were illegal acts...

Main Entry: free market Function: noun Date: 1897 : an economic market operating by free competition

Main Entry: ¹free  adjective Date: before 12th century
1 a: having the legal and political rights of a citizen b: enjoying civil and political liberty

Main Entry: ¹le·gal Function: adjective
1 : of or relating to law
2 a : deriving authority from or founded on law : DE JURE b : having a formal status derived from law often without a basis in actual fact : TITULAR <a corporation is a legal but not a real person> c : established by law; especially : STATUTORY
3 : conforming to or permitted by law or established rules
4 : recognized or made effective by a court of law as distinguished from a court of equity

JUST like the NEW FISA reregulates the 4th Amendment BECAUSE YOUR Blue TEAM failed to hold lawbreakers accountable....

I dont think you understand what LIAR means...

I understand regulation well, I have posted it's definition for you before, when you were lying yet again....

Or just keep LYING?

So, Phaedrus,

Are you NOT going to take ownership and responsiblility for YOUR OWN WORDS?

Are you JUST going to continue to lie, deceive and spred Party propaganda and refuse to take responsibility for your words and actions and the results that they cause?

We all have an incredible opportunity here, with the 'internets', and maybe ONLY for a very short time, to NOT only participate more actively in our own government, but to analyze it's strengths and weaknesses and help bring it to it's fulfillment.

We can break down policy and examine it's roots, who wrote it, who paid for it, who benefits and why, we can examine the causes of our current problems, and make the best of America's future.

You must understand that lies, deception and propaganda are at the root of our problems and unless we can examine them truthfully, we are doomed to repeat the errors of the past.

Laying out all sides and examining the pros and cons honestly, allow citizens to make the best choices for themselves and America.

Just like the hidden costs of Oil has made us Oil addicts, because the true cost was hidden and it SEEMED cheaper up front, it will take us longer and cost us much more in the long run to actually DO THE RIGHT THING....as you see, some STILL do not understand the hidden costs and think that MORE Oil, is the answer to our addiction.

I realize that some come here just to chat, bs, perhaps blow off some steam and spare the dog a kick or two, but this forum is an EXCELLENT opportunity for us to look at cause and effect, other options and opportunities and make better choices for America and our families, rather than follow the blind propaganda being pushed out at us by those who want our wealth and the results of our labor for too little in return.

Here we can put our own views, our own opinions out for scruntiny, evaluate the evidence and LEARN....
I know I have.

I continually put my views and opinions out for scrutiny, even harsh scruntiny, because I want to examine WHY I believe WHAT I believe, and I challange others, because I want to understand WHY they believe what they believe.
I present my evidence or scruntiny.
I even present the f***ing DICTIONARY out for scruntiny.

What I find, all too often is that many believe what they believe because they WANT to believe it, not that it has any basis in truth, fact or reality, and when faced with the truth, with the facts and with reality - they revert back to their 5 year old mentality - denial, blame others, then call names....

I understand that the Truth sometimes shatter their frail reality.

Truth is not, MY enemy....dont let it be yours.....

LIAR!!!

Childishness is all you have left moron,

Everyone sees that VERY clearly.

The Ayn Randian, FreeMarketeers at the Fed are also at fault. It was their job to watch the players, and they chose to not provide oversight.

LIAR,

There was nothing involving the Free Market at work here, proven by the very definition of Free Market.

So this is an untruth, and as I have with you, I made sure that you and Phaedrus understood the definition of Free Market and continued to tell the untruths BEFORE I called you out as the LIAR that you are....

Telling an untruth, when you are aware of the facts is LYING, deliberate LYING....

Face it, moron....

The TRUTH is YOUR enemy....