PrestoPundit

FBI Allowed Mortgage Fraud

Posted by PrestoPundit on 01/29/2009

The FBI knew about massive mortgage fraud, but used it’s resources on other things.

On my very short street, two houses were part of a mortgage fraud scam.  The mortgage scammers paid criminals to “buy” the houses, and then let them default, at huge multi-hundred thousand dollar markups over what the scammers had originally paid for the houses.  Prostitutes lived in one of the houses, and folks who dumbed their garbage in the backyard lived in the other house.  The FBI refused to investige, the local police refused to investigate — no one cared.  It was business as usuall in America.

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One Response to “FBI Allowed Mortgage Fraud”

  1. Greg, while there was fraud in the subprime lending industry, it was not rampant. I’ve written extensively about this at my blog. This post contains most links to my thoughts on this subject.

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