Anthony Accetta, a former U.S. prosecutor, is beside himself.
If the financial world collapsed because of mortgage fraud, where are the prosecutions? he asks.
Why all this talk of financial reform, and a few civil regulatory actions here and there, but no serious discussions about putting bad people in prison?
When I first met Accetta in 2005, he told he he’d been working for major Wall Street firms and discovered mortgage fraud had become an industrywide practice. He predicted America’s biggest investment houses and banks would all collapse under the weight of their lies. Never did he dream that the U.S. government would bail them all out and gloss over their misdeeds.
Click here to read my column on Accetta.