Will Someone Go To Jail This Time?
With foreclosures not exactly making front page news anymore, a recent internal report states the Justice Department massively overstated its successes in targeting mortgage fraud while in fact ranking it as a low priority for investigation. Sound familiar? Our government overstating successes?
And talk about mortgage fraud, this report comes at a time when a recently revealed internal Wells Fargo document appears to guide lawyers step by step on how to fabricate missing documents to foreclose on homeowners. Wasn’t it bad enough to falsify signatures with robosigning? Imagine a bank creating missing documents in order to foreclose on homeowners.
The Justice Department’s inspector general says despite playing a key role in the nation’s financial crisis, mortgage fraud was deemed either a low priority or not a priority at all.
Sounds Like An Inside Job
This attitude seems eerily familiar to what documentary filmmakers Charles Ferguson highlighted in the Academy Award winning documentary Inside Job. He spotlighted how during and after the serious mortgage scandal and meltdown that no one lending executive has gone to jail.
Now with this recent Wells Fargo scandal we shall see is that fact remains true.
For those who wish to read the whole report and transcript then click on the link –