FRONTLINE | "Fraud Was … the F-Bomb" re: Wall Street

Categorized | STOP FORECLOSURE FRAUD

FRONTLINE | “Fraud Was … the F-Bomb” re: Wall Street

Watch Alarm Bells In The Housing Market on PBS. See more from FRONTLINE.

FRONTLINE | “Fraud Was … the F-Bomb” re: Wall Street

PBS – Frontline-

To hear some on Wall Street tell it, no one saw the financial crisis coming. As Jamie Dimon, the chairman and CEO of JPMorgan Chase, explained to the Financial Crisis Inquiry Commission, “In mortgage underwriting, somehow we just missed … that home prices don’t go up forever.”

Others were less confident. In fact, well before the housing bubble burst, alarm bells were starting  to sound among key players in the mortgage industry: due diligence underwriters.

Due diligence underwriters are paid by banks to assess the risk of buying mortgage portfolios. In the run-up to the crisis, they were among the first to suspect that loosening loan standards could pose a potentially catastrophic threat to the economy.

[FRONTLINE]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Comments

comments

This post was written by:

- who has written 8687 posts on FORECLOSURE FRAUD | by DinSFLA.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

Contact the author

Leave a Reply

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Advertise your business on StopForeclosureFraud.com

Archives