Of all the sheriffs in the country how many have taken their own look into criminal prosecution of mortgage foreclosure fraud?
Where do on the issue or are they too busy worried about incense and Internet parlors, the real source of crime in our community?
Apparently only ONE, Christopher Conley High Sheriff of Carroll County New Hampshire (their license plates say "Live Free or Die").
Take a look at the press release and the citations to all of the behavior by the lenders, servicers, lawyers, almost everybody who touched a mortgage. Do I think people who borrowed money have to pay it back? Absolutely.
Do I think $400,000 mortgages were being dispensed like gumablls, with no regard to the ability of the borrowers to pay them back? Yes.
Do I think that lenders knew that by packaging these into AAA rated securities (through a criminal conspiracy by the rating agencies) they could shovel the risk onto pension plans and marks all over the world? Yes.
Was there a total lack of moral hazard to the shareholders of the lenders? Yes... Read on...