Mortgage Fraud

A few months ago, we noted that the FBI had quietly admitted that its primary function was no longer law enforcement (as it was supposed to be), but rather “national security.” Because fighting terrorism is hot. Putting bankers destroying the economy in jail? Not hot. As we noted at the time, the numbers showed that the FBI was putting a huge part of its budget towards “counterterrorism” (potentially doing much more to destroy your civil liberties than the NSA) and its efforts to take down white collar crime was dropping significantly.

A new report from the Justice Department’s Inspector General confirms this finding. It also notes that, despite President Obama and Attorney General Eric Holder promising (yeah, I know…) that cracking down on “mortgage fraud” was a top priority, the FBI has actually put it near the bottom of the list of actual priorities. Say one thing, do another. That sounds mighty familiar…

double red triangle arrows Continue reading “Despite Promises To Fight Mortgage Fraud, DOJ Basically Ignored It, Then Claimed Success With Faulty Stats”

When the gavel fell yesterday, Dallas District Attorney Craig Watkins found his office’s high-profile mortgage fraud case dismissed. What’s worse, Watkins found himself held in contempt of court by Judge Lena Levario.

The judge did not issue a sentence for the contempt charge, but jail time is not out of the question. I’d imagine District Attorneys are not popular in jail.

The trouble for Watkins revolves around the charge that he trumped up a case against a litigious spendthrift backed by a portion of a multi-billion dollar fortune, who nonetheless took out a giant mortgage that may or may not have been fraudulent. Blast you, adversarial legal system! Can’t we find a way to punish everyone in this case?

double red triangle arrows Continue reading “Dallas DA Learns You Don’t Mess With Texas… Judges”