For a moment forget about the $700-billion taxpayer bailout of America’s lending communities.
Think about $100 million or so of that rescue fund set aside for special prosecutors and staffs to ferret out and bring to justice criminals responsible for the financial disaster.
Sure, the ultimate responsibility rests with Republicans—then the majority in Congress—who insisted on an unfettered marketplace.
The lack of governmental oversight and regulation let crooked mortgage salespersons package bad and fraudulent loans and sell them to banks, investment houses and insurance companies.
Lenders frequently granted loans to unqualified borrowers though fraud and deception, then marketed the junk to investors who in turn sold the junk to other investors.
This scandal isn’t about politicians having sex with interns. This scandal is abut the royal screwing of American taxpayers. (28 SEPTEMBER 2008)
