Wednesday, October 5, 2016

What is the most impressive heist ever pulled off?

I’m still amazed at the subprime housing crisis in the United States.

Tens of thousands of individuals at all levels colluded to defraud the nation’s financial system, collectively they made tens of billions and only some minor low-level players have gone to prison so far. In fact, some of the worst offenders made serious political contributions that may have insulated them from prosecutions for the remainder of their lives.

Now THAT was a heist.

References:

Center for Public Integrity

A Master of Disaster

Wall Street, Not Fannie and Freddie, Led Mortgage Meltdown

Subprime Mortgage Crisis

Forbes Welcome



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