Bernie Sanders, in his speech JAN 5, carried out a scathing denunciation of Wall Street. Former financial regulator, Bill Black, 'unpacks the meaning:' it's important to reimplement the Glass-Steagall Act - but it's not enough to prevent another financial crisis. He also says that Documents In the JP Morgan Settlement Reveal How Every Large Bank in the U.S. has Committed Mortgage Fraud. We know that 90 percent of the liar's loans roughly were fraudulent, and that by 2006 they represented 40 percent of all the loans made in that year.-- over 2 million fraudulent loans being made by the lenders in just that single year! We know that from 2003 to 2006, in other words the critical period in which the bubble hyper-inflated, that that was due almost entirely to the massive increase by 500 percent of liar's loans, and we know that these loans produced these enormous losses.