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chiman commented on the blog post Schneiderman’s RMBS Working Group: Resources, Jurisdiction and Will
Search on “Paul Shukovsky, Tracy Johnson and Daniel Lathrop” for the detailed story.
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chiman commented on the blog post Schneiderman’s RMBS Working Group: Resources, Jurisdiction and Will
Yes, that’s the one. That’s one of the reporters for sure. I thought there was an expanded version, but maybe I am remembering a series of excerpts.
The mention of OCC/OTS is instructive: the AG of Illinois, Lisa Madigan, was so frustrated by their footdragging that she made her testimony before a commission public. It’s amazing reading.
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chiman commented on the blog post Schneiderman’s RMBS Working Group: Resources, Jurisdiction and Will
These deals were flying out of the bank windows by 2002 and probably hit their height around 2007,
In fact, the FBI was on the case at the time. But GW ordered Director Mueller to transfer thousands of agents from the white collar crime beat to the burgeoning field of Islamic domestic terrorism. Result: with no investigator reports at hand, US attorneys could not begin to prosecute the (obvious massive volume of) cases of securities and tax fraud they were well aware of. And the FBI managed to entrap exactly 3 groups of hapless Islamic guys, with exactly zero convictions, in the ensuing years.
The whole sordid story is laid out in a series of reports in the Seattle PI of a few years ago.
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