When The Government Compounds Crimes Rather Than Fights Them: The Case of Mortgage Fraud.
By Danny Schechter
We were all victims of the financial crisis that began in 2007 (not 2008) but some of us suffered more than others. And, hundreds of millions of us are still living with the painful aftermath as its consequences began to be felt worldwide.
The first order of business in Washington back then was to bail out the victimizers, who have done quite well, thank you very much, in rebuilding their citadels of profit.
They were only marginally impacted by some fines that were finally assessed in lieu of jail sentences.
That money was paid by the financial institutions, and their shareholders, not by decision-makers who were never held accountable. It was written off as a "cost of doing business" just as fraud became a way of doing business.
We have all read about the outrageous compensation schemes that offending executives have been rewarded with, even as the media has finally discovered deepening income inequality.