Finally, a sense of vindication for the views expressed here over the past several years. It is a sad sense of vindication, because it means that Eric Holder, the Attorney General of the United States, and most probably, his boss, Barrack Obama, President of the United States, have deliberately and consistently lied to the people of America. I don't like using "liar," but facts are facts.
On March 13, 2014 the Inspector General of the United States Justice Department issued a report on the performance of the DOJ in prosecuting the massive mortgage frauds of the late nineties to March, 2007, at least. Readers here know that the lack of prosecution was predicted here, and that not a single major financial institution has been even indicted, much less convicted of any crime. Readers here also know that such prosecution was indeed possible, and would have been successful.
Now, the Justice Department Inspector General reports that Eric Holder "erroneously" reported over an 80% number of prosecutions, and an inflation of over 80% of the dollar values of those prosecutions. Not only that, but after being told of the errors, the IG reports, Holder's DOJ continued to use the false statistics for nearly a whole year!
In addition, the Report states that the FBI, of which I have been very critical on mortgage fraud, became unhappy with the failure of US Attorneys to prosecute mortgage fraud, and simply let cases go. And the public wonders why nobody went to jail for the crime of the young millenium?
What is especially galling is that DOJ has repudiated and challenged its own IG's report! That Holder would direct DOJ to lie about the accuracy of its own internal probe reflects an all too prevalent willingness to govern through the BIG LIE. And, please note, this Report does not even touch on the Wall Street packaging of fraudulent loans; it is limited to just mortgage fraud in the mortgages which Wall Street packaged and sold.
I wish I were shocked. I'm not.