Federal Prosecutors May Charge Wall Street Bankers Who Sold Bad Loans Under An Obscure 1984 Law

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Federal Prosecutors May Charge Wall Street Bankers Who Sold Bad Loans Under An Obscure 1984 Law

Federal Prosecutors May Charge Wall Street Bankers Who Sold Bad Loans Under An Obscure 1984 Law

The keyword is “MAY”. How about “WILL”?

 

Business Insider-

U.S. federal prosecutors are considering a new strategy for criminally charging Wall Street bankers who packaged and sold bad mortgage loans at the height of the housing bubble, according to a federal official familiar with the investigation.

The official said federal authorities are finding new evidence they say indicates intent to commit fraud over the packaging and sale of mortgage bonds backed by subprime home loans in some of the civil lawsuits plaintiffs’ lawyers have filed against large banks.

And they are exploring whether they can build criminal cases against bankers by using a 1984 law intended to punish individuals for scamming commercial banks.

[BUSINESS INSIDER]

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One Response to “Federal Prosecutors May Charge Wall Street Bankers Who Sold Bad Loans Under An Obscure 1984 Law”

  1. Sarah says:

    New evidence? As opposed to a huge amount of evidence already available? Eric Holder?

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