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Some form of fraud for misrepresenting the risk that the mortgages that were bundled together, seems like the obvious answer. But I'm not a forensic accountant
by opello 1y ago
Some form of fraud for misrepresenting the risk that the mortgages that were bundled together, seems like the obvious answer. But I'm not a forensic accountant or someone with the nuanced legal understanding to define a charge here. Do you think there was no crime in the actions taken by either the banks or the rating agencies? No failure of fiduciary responsibility?
- yihtserns 11mo ago- Operation Malicious Mortgage: - > 400 arrested - 173 convictions - Operation Stolen Dream: - ~500 arrested - > 300 convictions Those that can, have been charged with fraud. For the rest, typically there's not enough evidence/they covered their tracks well.