Comment by MattGaiser
6 months ago
It’s not clear to me in 2008 that anyone committed fraud to the level required.
My understanding was more that things were disclosed deep in the fine print, and nobody really verified anything and didn’t have a legal obligation to do so.
Who allegedly lied to the point of it being fraud in 2008?
See my comment to a similar question that I answered already a few comments up from this one. If more information is desired, let me know, I have mountains of it, this is just the highlights to show in broad strokes the banks did indeed know they had fraudulent loans and they willingly misrepresented them.
Well, the people who lied on their mortgage applications to get loans they couldn't possibly every pay back certainly committed fraud. Nobody went to jail. Neither did anyone of the 100,000 or so people who collected the "first time homebuyers tax credit" fraudulently.