After watching Chris Hansen's report tonight on Dateline NBC on the origins of the mortgage crisis, I was wondering how many cases of mortgage fraud were currently being investigated by the FBI.'If you had a pulse, we give you a loan' - The Hansen Files with Chris Hansen- msnbc.com Based on Hansen's report, you could probably open several thousand files just on the one subprime lender that he focused on in his report. Hansen showed one printout from this one mortgage company, now bankrupt like hundreds of others, where the homeowner claimed to make $12,500 a month as a message therapist or a carpenter. That seemed to be a standard monthly income for virtually any occupation, either $12,500 or $11,500 per month. Really, and did anyone believe it and could it easily be proved false? It seemed to me that the FBI could take that list as a source document to investigate whether those homeowners lied about their incomes to secure a mortgage that they could not afford. One woman had mortgages on four condos but claimed a loss on her income taxes. There seems to be little effort nationwide to prosecute homeowners who committed fraud and the mortgage brokers who aided and abetted the entire process. For the entire country, and this is almost impossible to believe, the FBI opened just 734 investigations in 2008. Federal Bureau of Investigation - Mortgage Fraud If the FBI wanted to be serious about investigating the commission of crimes, I would suspect that it would be extremely easy to open 10 times that many of investigations in just one county in a high foreclosure area. The ones who committed crimes apparently have nothing to fear from the FBI or any other law enforcement agency, and that is one of the problems. I am going to put the FBI's failures to adequately enforce the law, along with inactions and inadequacies of other law enforcement agencies, in my top twelve causes of the current economic crisis. I will add it in #5 which now reads as follows:
5. CATCH ALL CATEGORY: FAILURES IN LAW ENFORCEMENT PARTICULARLY BY THE FBI, LACK OF ETHICS, FRAUD, MOB PSYCHOLOGY, WILD WEST CAPITALIST MENTALITY (GOP IDEOLOGY) , FAITH IN NERDS WITH MODELS, GREED & STUPIDITY
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