More evidence that banksters should go to jail. The Department of Housing and Urban Development just wrapped up an investigation into the nation’s five largest mortgage companies – Bank of America – JP Morgan Chase – Wells Fargo – Citigroup – and Ally Financial. What the agency found is that these banks routinely lied about the how much foreclosed homes were worth when they were getting reimbursed for those loans by the government – a practice that generated huge profits for the bank by swindling taxpayers. This is just the latest report to uncover crimes by banksters.
It was also discovered earlier this year that banks made as much as $30 billion thanks to illegal foreclosure practices – like kicking people out of their homes who didn’t deserve to be. All of these reports have been handed over to the Department of Justice – yet nothing has been done to hold the banksters accountable.
It seems like the only way banksters go to jail nowadays is if they also try to rape a hotel maid. When will we once again start throwing banksters in jail for fraud and fraud alone – like Reagan did with the S & Ls?