I will have to read up on this case and don’t understand the details yet.
But I speculate that the government would rather not expose the incentive for the whole buy and sell of junk mortgages at the behest of the government and the laundering of these “investments” through Freddie and Fannie.
They found somebody who gamed the system and took advantage of the government and got rich doing it. The victims may have been the bad debtors, but the government first gave the tools to the lending industry and then FORCED them to use the tools to sell high risk loans. They were covered from risk because they could sell the crappy investments for profit to Freddie and Fannie.
This was all under the guise of “affordable housing for everyone” promised by the government.
BTW - We are starting this all over and doing it again now.
I take it that the AmeriQuest crew is getting off Scot free?
I agree with your post. And yes we are starting it all up again..
I knew they wouldn’t get anyone. Congress was the cause, not the loaning agencies.
red
did all the big money men just get a big ol pass from barry?....
the rat party IS the big money oligarchy party....