The reluctance of media to ever name Mueller III as having anything to do with even an FBI report,says volumes on who is what in the US today... jz
The Omnipotent - Robert Mueller III
Banksters Love Holder; The FBI's 2010 Mortgage Fraud Report Reveals WhyBy William K. Black, J.D., Ph.D. |
The Obama administration's continuation of the Bush administration's refusal to prosecute the elite banksters (or even the vastly lower status CEOs of the fraudulent mortgage bank) that drove the crisis has made it clear that the rule of law no longer applies to wide ranges of life and that crony capitalism will continue to reign.
One of the difficulties we have is that because the last two administrations have fanatical devotees of the cult of the Virgin Crisis -- the myth that the ongoing crisis was the first in modern times conceived without sin (control fraud) -- that it is exceptionally difficult to know what their creed is. DOJ has refused to prosecute any elite banker for mortgage loan origination fraud. The rare prosecutions it has brought against senior officials of fraudulent loan originator (a large, but obscure regional mortgage bank: Taylor Bean) did not prosecute the officials for their fraudulent origination (or sale) of loans. The Taylor Bean officials were only prosecuted for their fraud against the TARP program -- and only because Neil Barofsky (SIGTARP) made the criminal referral about that fraud and pushed relentlessly to force the Department of Justice to prosecute. With zero prosecutions of the massively fraudulent home lenders that drove the crisis to we are left with no information on why committing hundreds of thousands of frauds via the twin epidemics of loan origination fraud (inflating appraisals and making endemically fraudulent "liar's" loans) is no longer a crime that the FBI investigates and DOJ prosecutes. No senior DOJ or FBI official, of course, is stupid enough to state openly why we no longer prosecute even the CEOs of long-bankrupt mortgage banks that led these accounting control frauds. The U.S. Attorney for Sacramento, one of the epicenters of accounting control fraud, was foolish enough to attempt to explain why he did not investigate or prosecute the banksters:
Benjamin Wagner, a U.S. Attorney who is actively prosecuting mortgage fraud cases in Sacramento, Calif.,points out that banks lose money when a loan turns out to be fraudulent. "It doesn't make any sense to me that they would be deliberately defrauding themselves," Wagner said.
Wagner's inability to keep his pronouns straight even when they were in the same sentence -- "they" refers to the CEO, "themselves" refers to the bank the CEO is looting -- was so embarrassing that he did not even try to respond to his critics. With no indictments of the bank CEOs for loan origination fraud and no statements by senior DOJ leaders about why they refuse to prosecute the leaders of the accounting control frauds that drove our last three major crises we are forced to guess at what went wrong at the FBI and DOJ.
This is the first in a series of columns that use the FBI's 2010 Mortgage Fraud Report to make intelligent inferences about why the prosecutors have ceased prosecuting control frauds directed by senior financial leaders. To find that report on the FBI web site one searches for "mortgage fraud" and reads the following:
Mortgage FraudThese scams hit us right where we live. From foreclosure frauds to subprime shenanigans, mortgage fraud is a growing crime threat that is hurting homeowners, businesses, and the national economy. We have developed new ways to detect and combat mortgage fraud, including collecting and analyzing data to spot emerging trends and patterns. And we are using the full array of investigative techniques to find and stop criminals before the fact, rather than after the damage has been done.
The first clause is schizophrenic. "Foreclosure fraud" is a massive anti-purchaser control fraud directed by the senior leadership of fraudulent banks. "Subprime" refers to one of the primary forms of "ammunition" used by the accounting control frauds whose fraudulent mortgage loan originations drove the financial crisis. But the FBI calls this form of fraud, which caused catastrophic losses mere "shenanigans."
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