Image courtesy of James Mintz Group’s “Global Fact Gathering.” Read more
PaperTrail’s eye was caught by a new newsletter — “Global Fact Gathering” by the James Mintz Group, a private investigative firm — which maps out an “investigative armada” that has descended into the current sub prime-mortgage morass. There are FBI agents assigned to white collar crime, embattled SEC investigators, state auditors, forensic accountants, private investigators, all trying to try to sort out “alleged wrongdoing and conflicts of interest in the mortgage and financial industries.”
The economic tangle these investigators are trying to unravel (neatly laid out in the below graphic from the Mintz team) begins with appraisers (alleged to have inflated home values) and follows a path through mortgage lenders (alleged to have misrepresented the quality of their loans in SEC filings), with occasional pit stops at brokers and underwriters (along with more allegations), before ultimately landing on the welcome mats of eager homeowners across the country. And that’s only the left side of the chart; just wait until the investment banks and their ilk get involved.
1 comment:
It started out with a few getting big bucks by setting people up. Then it just got out of hand and to many started to get their share until the ballon bust and here we are.
Post a Comment