NY Attorney General Lawsuit-Lipstick On a Pig

Readers need and deserve to know the truth behind the announcement of a mortgage fraud lawsuit against Bear Stearns and JP Morgan Chase. This is not, as claimed, any sort of "holding accountable." Wall Street has been allowed to escape any real accountability for the mortgage fraud that caused the housing collapse. There has not been a SINGLE criminal case brought against any major individual or financial institution. There has not been a SINGLE announced Grand Jury investigation. There have been "task forces" which have prosecuted low end fraudsters, but no political will to prosecute the higher ups who created and directed massive fraud. To assert that suing the buyer of a bankrupt company for fraud is meaningful accountability is, itself, a fraud.

 

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