Road to Ruin: Mortgage Fraud Scandal Brewing
By Lagan Sebert on May 11, 2009
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Criminal fraud may be the most underreported aspect of our current financial crisis. In this “Road to Ruin” report, former subprime lenders from Ameriquest, once the country’s largest lender, describe a system rife with fraud. They describe how a “by-any-means-necessary” policy pushed employees to cut corners and falsify documents on bad mortgages and then sell the toxic assets to Wall Street banks eager to make fast profits.
BFR Webmaster’s Note: This story is now five months old. Here it is October and the Scandal is still only “brewing”? At what point do the Regulators, Politicians and Bureaucrats actually step up to the plate and DO something?
Tags: American Mortgage, American News, Ameriquest, Assets, Bureaucrats, Criminal Fraud, Financial Crisis, Five Months, Fraud Scandal, Mortgage Fraud, Mortgages, News Project, Politicians, Profits, Regulators, Report Fraud, Sebert, Subprime Lenders, Wall Street, Wall Street Banks