Re: Home Foreclosures: Crisis Is Only Getting Deeper, conservatives

On May 16, 3:07 pm, Steve <stevencan...@[EMAIL PROTECTED]
> wrote:

> If it's common knowledge, you should be able to document it...

 its typical when arguing with a right wing crank that they demand
that we always have to back up each and every sentence we make with
bullet proof evidence, yet, the cranks crank on, and never provide one
bit of their own evidence, even as they are being proven wrong.
 my question to you is, what proof do you have that there was no fraud
being committed by brokers?
 considering the f.b.i. is now involved, and they said firms made
misstatements(a sure sign of fraud)lets see what you got:)

http://www.flippingfrenzy.com/2008/04/16/the-fbis-mortgage-fraud-probe-now-t=
argets-19-firms/

The FBI=92s Mortgage Fraud Probe Now Targets 19 Firms
We learned some interesting things today about the FBI=92s probe into
real estate and mortgage fraud at some of Wall Street=92s top financial
institutions. According to FBI Director Robert S. Mueller, III=92s
testimony before the U.S. Senate Committee on Appropriations,
Subcommittee on Commerce, Justice, Science, and Related Agencies, the
Bureau=92s investigation of real estate fraud in the mortgage industry
now encompasses 19 companies, up from 17 just one month ago. In
Mueller=92s own words:
	=95	=93We=92ve had a tremendous surge in cases related to the subprime
mortgage debacle. We currently have almost 1,300 cases that have grown
exponentially over the last several years and we expect them to grow
even further.=94
	=95	=93We have also 19 cases involving institutions themselves where
mortgage fraud may have contributed to misstatements and the like.=94.
Mueller, who was testifying on Capital Hill in defense of the FBI=92s
budget request for 2009, also said that when the Bureau=92s budget
request was originally drafted, the subprime mortgage mess had not yet
=93grown to the point where we could see the extent of the surge,=94 and
that he was not certain at this point when we can expect to see the
extent of the surge.
Additional information, from Reuters:
Bureau officials declined to name any additional companies targeted in
the probe. =93We=92ve always said it was a fluid number,=94 FBI spokesman
Stephen Kodak said. =93It could change at any time.=94 He said the bureau
has publicly acknowledged only one company as involved =97 Doral
Financial Corp (DRL.N: Quote, Profile, Research). A former Doral
treasurer was indicted for investment fraud last month. He denied the
allegations and the company declined to comment.
The largest U.S. mortgage lender, Countrywide (CFC.N: Quote, Profile,
Research), also is under FBI investigation, authorities have said,
although the FBI has declined to comment and Countrywide said it was
unaware of any investigation. When the FBI disclosed its industry
investigation, major investment banks Goldman Sachs (GS.N: Quote,
Profile, Research), Morgan Stanley (MS.N: Quote, Profile, Research)
and Bear Stearns Cos (BSC.N: Quote, Profile, Research) each said the
government had asked them for information, but there was no
confirmation of any FBI role. Beazer Homes (BZH.N: Quote, Profile,
Research) said last year it had received a federal grand jury subpoena
related to its mortgage business.