2 ms·

Fraud, securities fraud, and forgery would do as a start.

edanm 9y ago
Who committed fraud, specifically? This always comes up and, while I agree that maybe things possibly weren't investigated enough, I don't think there are any clear examples of people who committed fraud and got away with it. A lot of people being stupid does not equal fraud.
- beagle3 9y ago
  I recommend reading Karl Deninger at https://market-ticker.org/ https://market-ticker.org/ ; I don't know if his archive back to 2007 are available to non-subscribers, but he's been documenting these issues, quite well presented, since 2007. The bottom line is, for the 2007/8 crisis, there are hundreds if not thousands of people guilty of fraudulent misrepresentations, and for inventing their own laws, with no reprecussions. I think the most egregious case is the "robo-signing" and MERS case (which are intertwined), which appear to involve thousands of cases of perjury, non of which were prosecuted, or even investigated -- but the publicly available evidence is damning enough, even if no justice official decided to investigate. But why go back so far? So far, the recent wells fargo fraudulent account opening case [0] has resulted in a slap on the wrist and no one being charged. I don't know who committed fraud specifically, and it seems no one who can find out wishes to find out either. In 8 years, someone like you is going to ask "but who specifically committed fraud? this always comes up". There are clear examples of fraud; if there aren't clear examples of who committed that fraud, it is only because the powers that be decided they do not want to know. [0] https://en.wikipedia.org/wiki/Wells_Fargo_account_fraud_scandal#Effects_on_Wells_Fargo_and_management https://en.wikipedia.org/wiki/Wells_Fargo_account_fraud_scan...
- MaysonL 9y ago
  Efery single banker who submitted forged documents in foreclosure cases. Possibly every banker who blacklisted honest real estate appraisers in order to find ones who would give them an appraised value high enough to justify the loans (to people whom the bankter assisted in fraudulently applcations for) which they would sell off profitably securitised to investors duped by credit rating agencies lyingly giving them AAA ratings.

Who committed fraud, specifically? This always comes up and, while I agree that maybe things possibly weren't investigated enough, I don't think there are any clear examples of people who committed fraud and got away with it. A lot of people being stupid does not equal fraud.

beagle3 9y ago
I recommend reading Karl Deninger at https://market-ticker.org/ https://market-ticker.org/ ; I don't know if his archive back to 2007 are available to non-subscribers, but he's been documenting these issues, quite well presented, since 2007. The bottom line is, for the 2007/8 crisis, there are hundreds if not thousands of people guilty of fraudulent misrepresentations, and for inventing their own laws, with no reprecussions. I think the most egregious case is the "robo-signing" and MERS case (which are intertwined), which appear to involve thousands of cases of perjury, non of which were prosecuted, or even investigated -- but the publicly available evidence is damning enough, even if no justice official decided to investigate. But why go back so far? So far, the recent wells fargo fraudulent account opening case [0] has resulted in a slap on the wrist and no one being charged. I don't know who committed fraud specifically, and it seems no one who can find out wishes to find out either. In 8 years, someone like you is going to ask "but who specifically committed fraud? this always comes up". There are clear examples of fraud; if there aren't clear examples of who committed that fraud, it is only because the powers that be decided they do not want to know. [0] https://en.wikipedia.org/wiki/Wells_Fargo_account_fraud_scandal#Effects_on_Wells_Fargo_and_management https://en.wikipedia.org/wiki/Wells_Fargo_account_fraud_scan...
MaysonL 9y ago
Efery single banker who submitted forged documents in foreclosure cases. Possibly every banker who blacklisted honest real estate appraisers in order to find ones who would give them an appraised value high enough to justify the loans (to people whom the bankter assisted in fraudulently applcations for) which they would sell off profitably securitised to investors duped by credit rating agencies lyingly giving them AAA ratings.