Just released FBI report concludes Mortgage fraud continued at elevated levels in 2010, consistent with levels seen in 2009 . . . http://www.fbi.gov/stats-services/public....

We will continue to monitor and report on fraud however no significant arrests will be made

That's not quite true. The FBI did make quite a few arrests, and even got convictions, see below, for fraud. The FBI is quite capable of conducting investigations and making cases when motivated to do so. However Operation Stolen Dreams targeted straw buyers who took out loans to buy homes at inflated prices and then skimmed off the excess value from the loans. In other words, people and entities that had defrauded and caused losses for the banks. That's a big no-no. Just because the banks are allowed to commit fraud and steal money doesn't give others the right to do the same.

What were these buyers thinking?

Quote:

In June 2010, the DOJ, to include the FBI, announced a mortgage fraud takedown referred to as Operation Stolen Dreams. The takedown targeted mortgage fraudsters throughout the country and was the largest collective enforcement effort ever brought to bear in combating mortgage fraud. Operation Stolen Dreams involved 1,215 criminal defendants and included 485 arrests, 673 informations and indictments, and 336 convictions. The defendants were allegedly
responsible for more than $2.3 billion in losses.

Yeah, a whole lot of them were in SoCal for certain.

Let me guess, all of the perps worked for Mom and Pops, not the bigger, politically bribing...err connected players.

Please Bigbluffer point us to all the FBI arrests made on the other side of the equation: TBTF scum banksters

Txin1880,
I can't. Reread my post. The point I was trying to make was that all the arrests were on the borrower side of the transaction and that two different standards were being applied. Apparently my post was as clear as the runoff from a feedlot after a Texas rainstorm. Ewwww. Where did I put those old ****kickers?