Gretchen Morgenson: A Loan Fraud War That's Short on Combat


Gretchen Morgenson: A Loan Fraud War That’s Short on Combat

Gretchen Morgenson: A Loan Fraud War That’s Short on Combat

“The I.G. report confirmed what’s been clear for quite a while — that the D.O.J. has never taken mortgage fraud seriously,” Professor Levitin said. “There is going to be no comeuppance for crimes committed during the financial crisis. This sets a really bad precedent for future crises because we’re seeing that there is going to be no deterrent effect of criminal law.”


In the years since the financial crisis of 2008, the Justice Department has been regularly questioned about a lack of criminal prosecutions related to the mortgage mess.

Its responses have just about always been the same, whether in public speeches by Eric H. Holder Jr., the attorney general, or in interviews with Lanny A. Breuer, its former criminal division chief. Believe us, they would say, we’ve been working overtime on these matters; if there had been cases to make, we would have made them.

Mr. Breuer was especially vocal with these talking points. But last week, a report from the inspector general of the Justice Department, Michael E. Horowitz, set the record straight. Sure enough, the report told us how hard the nation’s law enforcement officials had been investigating these cases. That is, hardly at all.


image: Jason Reed for Reuters

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2 Responses to “Gretchen Morgenson: A Loan Fraud War That’s Short on Combat”

  1. nydeemarie says:

    So it was only about a budget increase, raises and new hires?

    Damn… Bamboozled again…

  2. Charles Reed says:

    Talking with the FBI in the Omaha NE office about mortgage fraud was like talking to the KKK in 1960 after a lynching in Mississippi were the sheriff was the Grand Wizard!

    Explaining to them that there was a forgery committed at the county Register of Deeds Office and it was document number 123 and recorded on the exact date and created by the forger. But the FBI question to you is were you behind on your payment? Hold the horse, I just told you that someone that no my lender recorded a forgery and law enforcement is asking was I behind on the payment to someone who is not my lender and who has admitted in a letter this fact.

    The crook has confess to the crime in the form of a letter and the police will not take the letter! But this is because President Obama in a backhand way called all mortgage loan complaint people deadbeats and the federal government employee are just following leadership! Politicians will always need funding for the next election!


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