Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

Some form of fraud for misrepresenting the risk that the mortgages that were bundled together, seems like the obvious answer. But I'm not a forensic accountant or someone with the nuanced legal understanding to define a charge here. Do you think there was no crime in the actions taken by either the banks or the rating agencies? No failure of fiduciary responsibility?


  - Operation Malicious Mortgage:
    - > 400 arrested
    - 173 convictions
  - Operation Stolen Dream:
    - ~500 arrested
    - > 300 convictions
Those that can, have been charged with fraud. For the rest, typically there's not enough evidence/they covered their tracks well.




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: