Fraud + Theft = Jail
Finally, one little bone has been pulled from the closet-full of skeletons belonging to America’s largest banks.
The unmitigated gall and greed behind one of the largest consumer frauds ever perpetrated, resulting in a world-wide economic collapse, homelessness and widespread unemployment has so far only cost the perpetrators a mere $25 billion “settlement”.
As Joe Henderson of the Tampa Tribune said, “…the guys who did this are laughing all the way to the Hamptons.”
Thousands upon thousands of borrowers lost their homes while individuals in the banking and financial sectors rewarded themselves with obscene performance bonuses.
These banks may have once been deemed too big to fail, but are the people behind this fraud too big to go to jail?
The Racketeer Influenced and Corrupt Organizations Act; commonly referred to as the RICO Act or simply RICO, went into law to go after the leadership of organized crime organizations such as the Mafia.
The “settlement” costs will just be passed along to the banks’ customers in the form of higher fees.
Take away those homes in the Hamptons and incarcerate those responsible.
<IMHO> Fred Jacobsen
Read some background information on this Curious Puzzle and how this fraud may have touched upon Hillsborough County Florida.