Throughout the inception of our blog, we've watched cases developed where people have been prosecuted for as little as simply lying on their mortgage applications or as much as being involved in multi million dollar mortgage fraud schemes. Time and time again we've watched prosecutors determined to put people, no matter how small their rolls were in these schemes, behind bars regardless of the tactics that they have to use, perjury, fabricating evidence, coercing testimony, threatening defendants families, etc. You would think based on what we've seen the government do in their quest to punish those involved in these financial crimes that they'd go after the banks with the same zeal, as we've seen though, that simply hasn't been the case.
To this day there hasn't been a single criminal prosecution of a single person from the banks, the same banks that caused the real estate and economic meltdown. Sixty Minutes did a segment on just this topic last night that really nailed it. Take the time in case you missed it and watch through the whole segment...
What gives folks? Can anyone give me a single reason why the government has refused to go after the real culprits behind our real estate and financial crisis that has brought our country if not the world to it's knees? Think about what the bankers behind this mess did, it's not too different than what the government has gone after borrowers for, yet the government refuses to nail these guys. WTF?