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The Watchdogs that didn't bark

Dec 25, 2011

We have the best government money can buy. So why don't they prosecute those who perpetrated the fraudulent mortgage practices? Perhaps the big dogs in the Justice Department are watching their Swiss bank accounts grow the longer they refuse to bark or bite.

http://www.reuters.com/article/2011/12/22/us-foreclosures-idUSTRE7BL0MC20111222

(Reuters) - Four years after the banking system nearly collapsed from reckless mortgage lending, federal prosecutors have stayed on the sidelines, even as judges around the country are pointing fingers at possible wrongdoing....

The government also hasn't brought any prosecutions for dubious foreclosure practices deployed since 2007 by big banks and other mortgage-servicing companies.

The government also hasn't brought any prosecutions for dubious foreclosure practices deployed since 2007 by big banks and other mortgage-servicing companies.


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Dr. Stephen Jones


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