“It’s a mystery to me how manufacturing a false FICO score, securitizing the mortgage, and then flushing the resulting “AAA” derivative a$$paper/poison into the global economic infrastructure... hasn’t been prosecuted as the obvious and deliberate FRAUD that it is.”
I suspect that it takes a lot of time and money to pinpoint where the fraud occurred in each mortgage. The borrower could have lied, the broker could have phonied up the numbers, the rating agency could have knowingly bestowed a false rating. Prosecutors may not want to devote the resources.
“Somewhere in Hell, Nikita Khrushchev is caressing his shoe and softly chortling... “see, told you so, vee bury you”
I remember watching Khrushchev pound his shoe at the UN. It was great theater courtesy of the Evil Empire.
[I suspect that it takes a lot of time and money to pinpoint where the fraud occurred in each mortgage.]
And when the cats are busy keeping terrorists from doing terroristee things, the mice they do play in the grey areas.