Former FCIC Chair wrote a letter to AG urging DOJ to immediately re-open the investigation into individual misconduct related to the packaging and sale of mortgage securities

Justice League

Phil Angelides

Served as Chairman of the Financial Crisis Inquiry Commission

Huffington Post:

Five years ago at this time, the Financial Crisis Inquiry Commission (FCIC) presented the President and Congress with its final report on what caused the 2008 financial meltdown that devastated our economy and millions of American families. The report concluded that the financial crisis was avoidable and was caused by widespread failures of regulation, reckless risk taking on Wall Street, and a systematic breakdown in ethics and accountability.

The FCIC’s report included evidence of industry wide fraud and corruption in the mortgage markets, from loan origination to Wall Street’s bundling and sale of mortgage securities to investors. One study obtained by the Commission placed the losses resulting from fraud on mortgage loans made between 2005 and 2007 alone at $112 billion. The FCIC referred evidence of potential violations of law to the Department of Justice (DOJ) for…

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I rant about issues concerning foreclosure, real estate law and any topic of interest. Normally my day job is Fashion and Costume Design. I like writing and reading interesting subjects.
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