4 ms·

This is amazing. I find it incredible that only .100 billion is going towards "Financial Crimes and Enforcement" given the huge amount of fraud and outright cr

This is amazing. I find it incredible that only .100 billion is going towards "Financial Crimes and Enforcement" given the huge amount of fraud and outright criminal activity that has occurred in our banking sector. This is actually down 10% from last year. Regardless of your political views, left or right, this shows you what the priorities of our government are. After the S&L crisis in the 80s, over 1000 banksters and fraudsters were convicted and imprisoned. Why is it that none have been convicted and imprisoned now?

yummyfajitas 16y ago
While I'd love to see all the home borrowers who lied on their loan applications jailed, it just isn't going to happen. They are "victims" who need a bailout. Besides, it's probably also not that useful to do. From now on, you can expect banks to do a little more verification, so creating disincentives for mortgage application fraud is not that pressing an issue.