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Somebody In The Goverment Knew About The Foreclosure Crisis

August 27th, 2008 · No Comments


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Plenty of warning, No Action. I find amazing that the took agents off the case.
clipped from www.latimes.com
FBI saw threat of mortgage crisis
Early warning
EARLY WARNING: Chris Swecker in 2005. In charge of criminal probes for the FBI, he believed the agency would prevent upheaval in the mortgage industry.
A top official warned of widening loan fraud in 2004, but the agency focused its resources elsewhere.
WASHINGTON —
Long before the mortgage crisis began rocking Main Street and Wall Street, a top FBI official made a chilling, if little-noticed, prediction: The booming mortgage business, fueled by low interest rates and soaring home values, was starting to attract shady operators and billions in losses were possible.

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