I just stumpled upon this article that exposes the way our government deals with the individuals and companies that are thought to be responsible for the housing market debacle. An article everyone should read:
It has become a routine announcement by now: some large financial institution has reached yet another settlement with a government agency prosecuting a case involving mortgage and securities fraud.
Such settlements involve usually several millions of dollars in fines - mostly payable to the government and very little of which can be expected to wind up in the hands of consumers who suffered real losses. Not only do the real victims get little in the way of restitution, but also it is distressingly common that the actual perpetrators suffer no ill consequences as a result of their wrong-doing.
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