4 ms·

Mail fraud... looks like some AG spent too much time watching "The Firm"

• mtgx 14y ago
  They can arrest people whenever they want with "loopholes" like these, and yet they can't seem to do a damn thing about any of the bankers who helped bring down the economy. Yeah, I just don't buy that.
  • deleted 14y ago
    [deleted]
  • alexqgb 14y ago
    Elliot Spitzer - who knows all about books been suddenly thrown in cases that routinely go unpunished - has some choice words about this in "Inside Job". Having been on both sides of the table, he is entirely credible when saying that the dearth of prosecutions reflected a lack of will, not an absence of ways. http://www.youtube.com/watch?v=FzrBurlJUNk http://www.youtube.com/watch?v=FzrBurlJUNk
  • akgerber 14y ago
    The same Preet Bharara did just come out with a suit against Bank Of America: http://www.businessinsider.com/bank-of-americas-hustle-program-2012-10 http://www.businessinsider.com/bank-of-americas-hustle-progr... Not that more oughtn't be done.
  • smsm42 14y ago
    Well, not whenever they want. If you didn't send fraudulent documents by mail and they wanted to arrest you, they'd have hard time charging you with mail fraud, not? As for bringing down the economy, if you're going to arrest everybody that participated, you'd need a lot more jails. You'd have to arrest all that took and signed liar's loans, all that took interest-only 40 year loans with no income source to speak of, all that used their HELOCs as ATMs and took luxurious vacations on borrowed cash, all that saw their house double in value in 3 years and decided they are real estate moguls now, etc. etc. Bankers are a fashionable target, but they were not alone in this.