In 'Operation Malicious Mortgage' 400 Charged with Fraud, Conspiracy
Just as the FBI arrested two shady, former Bear Stearns hedge fund managers, Bloomberg reports over 400 people were charged amidst 1300+ ongoing mortgage-fraud investigations.
The FBI/DOJ effort, called Operation Malicious Mortgage, which could’ve just as easily been a retail slogan in ‘06, targets “real-estate agents, lawyers, appraisers and borrowers…for their roles in the collapse of hedge funds that helped ignite the sub-prime meltdown.”
Go directly to jail. Do not pass GO. Do not collect $200M in bonuses.