Bankers: The Real House Thieves of New Jersey
Richard Eskow
United SteelWorkers
Write a cookbook, go to jail?
David Dayen points out the absurdity and hypocrisy behind the Obama/Holder Justice Departments decision to indict two stars of The Real Housewives of New Jersey on charges of mortgage fraud while Wall Streets crooked bankers still go unpunished.
Dayen points out that Wall Street bankers illegally foreclosed on 244,000 customers, for a total he estimates at $48 billion, and provides more detail on the scope of bankers foreclosures crimes.
But thats barely scratching the surface. Bankers also defrauded mortgage investors, manipulated energy prices, and fraudulently tampered with lending rates, at a total cost that may well run into the trillions.
Does the Obama/Holder DoJ indictment count reflect the relative magnitude of criminality committed by the respective parties? Lets look at the record.
Indictments for reality TV stars who accused of defrauding banks in order to obtain approximately $2.4 million in loans: 2.
Indictments of bankers who falsified millions of loan documents, defrauded homeowners and investors, evaded local property sales taxes, and committed multiple other frauds large and small: 0.
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