Everyone thought the cancer would get him, but he was actually hit by a car and fell down down an open manhole into the sewer where he was coated in shit and eaten by alligators. Tragic.
This is literally what we're discussing, it is what the thread is about. If you think that actually the truth is that the Obama administration aggressively investigated and prosecuted financial industry malfeasance, you should respond to the OP.
Your memory is a little off. BofA bought Countrywide of its own free will. Here is the press release. http://investor.bankofamerica.com/news-releases/news-release-details/bank-america-agrees-purchase-countrywide-financial-corp
You're think of the Merrill Lynch transaction. That was the shotgun...
Right, the issue is that it was more than loan officers. It's been a while so my memory might not be as clear on this, but I believe there were also banks wrongly foreclosing on houses, banks that were misrepresenting the health of the mortgages in their structured investment products, etc...
Wait, we indicted people that have no chance of ever standing trial so that evidence could be presented? Wow, that's convincing. Weird that none of the Americans you mentioned were also indicted.
It is illegal (I'm pretty sure) to submit fraudulent lending applications, and lending officers that encouraged or facilitated the submission of fraudulent applications as well as the institutions that were supposed to be supervising them should have been accountable.
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