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It sickens me that Citigroup acknowledged they fraudently bought loans without the required documentation and even in some cases said documentation was forged o
by DigitalSea 14y ago
It sickens me that Citigroup acknowledged they fraudently bought loans without the required documentation and even in some cases said documentation was forged or incomplete and all they got was a $185 million slap on the wrist. What makes matters worse is that the people who have these mortgages are completely oblivious as to what is going on. What makes the whole situation even more laughable is the fact they got billions in bailout cash and yet were only fined $185 million.
They didn't deny the allegations, why didn't someone go to jail over this? They breached mortgage regulations and by the sounds of it most of their purchased loans were fraudelent. Disgusting.
Even after the housing bubble popped it surprises me that banks are still doing these kinds of things. The saying history repeats itself couldn't be more true even if it tried.