Posted by yani_fl on 4/19/11 8:54pm
Msg #380570

Jury convicts exec in $3B mortgage fraud case

http://news.yahoo.com/s/ap/20110419/ap_on_bi_ge/us_tarp_case_trial

Reply by Susan Fischer on 4/19/11 9:06pm
Msg #380572

One down, so many to go... n/m

Reply by MW/VA on 4/19/11 10:45pm
Msg #380589

Re: One down, so many to go...

It's usually said that something is better than nothing, but this guy is in the middle of the arena, IMO.
I've watched "Inside Job" and most the the big players aren't going to come anywhere near a courtroom or jail. Again, IMO, it reminds me of the big press that Martha Stewart got & did jail time while most of Wall Street was running amuk.

Reply by NJDiva on 4/19/11 10:52pm
Msg #380591

Re: One down, so many to go...

hmmm, you're so right about that deal with Martha Stewart getting the jail time for insider trading. I was an executive assistant to a hedge fund manager and I can tell you right now, insider trading is common place in the whole financial industry!!!

Reply by Susan Fischer on 4/20/11 12:34am
Msg #380598

Boggles the mind, doesn't it? n/m

Reply by JanetK_CA on 4/20/11 1:38am
Msg #380601

It's a start - but I sure hope it's not near the end!! n/m

Reply by Barney on 4/19/11 9:29pm
Msg #380576

That is great news now the FBI need to go after Countrywide.

Reply by Pat/IL on 4/19/11 11:26pm
Msg #380592

That's amazing stuff, but I don't see anything in the story about mortgage fraud - only bank fraud. Where did all that money go?

Reply by Susan Fischer on 4/20/11 12:37am
Msg #380599

It went to Wall Street, Pat. That's the point. n/m

Reply by MW/VA on 4/20/11 2:57pm
Msg #380667

You all really need to see the documentary, "Inside Job". n/m