Based on existing investigations and mortgage fraud reporting, 80 percent of all reported fraud losses involve collaboration or collusion by industry insiders
The pocket veto stems from the fact that there's no Congress right now to override an actual veto.
But Senate leaders agreed last week to schedule pro-forma sessions of the chamber every week until the lame-duck session in November. The deal prevented Obama from making recess appointments.
the most prevalent type of mortgage fraud - 53% of all claims -- was something called "occupancy fraud." This fraud involved an investor who falsely claimed on the mortgage application that he/she intended to occupy the property as a primary residence.
Whenever Wall Street people tried to argue--as they often did--that the subprime lending problem was caused by the mendacity and financial irresponsibility of ordinary Americans, he'd [Eisman] say, 'What--the entire American population woke up one morning and said "Yeah, I'm going to lie on my loan application"? Yeah, people lied. They lied because they were told to lie
« Older Daniel Davies writes on not being obliged to vote ... | "As part of its ongoing missio... Newer »
This thread has been archived and is closed to new comments
Buy a Shirt