Criminal fraud may be the most underreported aspect of our current financial crisis. In this “Road to Ruin” report, former subprime lenders from Ameriquest, once the country’s largest lender, describe a system rife with fraud. They describe how a “by-any-means-necessary” policy pushed employees to cut corners and falsify documents on bad mortgages and then sell the toxic assets to Wall Street banks eager to make fast profits.
Duration : 0:6:53
Criminal fraud may be the most underreported aspect of our current financial crisis. In this “Road to Ruin” report, former subprime lenders from Ameriquest, once the country’s largest lender, describe a system rife with fraud. They describe how a “by-any-means-necessary” policy pushed employees to cut corners and falsify documents on bad mortgages and then sell the toxic assets to Wall Street banks eager to make fast profits.
Duration : 0:6:53
http://www.pbs.org/billmoyers BILL MOYERS JOURNAL travels to ground zero of the mortgage meltdown — Cleveland, Ohio. Correspondent Rick Karr takes viewers to Slavic Village, one of the hardest hit neighborhoods in the nation when it comes to the spate of foreclosures caused by the subprime mortgage crisis.. Aired Friday, July 18, at 9p.m. on PBS (check local listings). For more: http://www.pbs.org/billmoyers
Duration : 0:20:56
Check out my new blog…
http://mrmortgage.ml-implode.com
S&P, BofA and Fitch all concur that the ‘Home Equity Implosion’ is knocking on, or kicking down rather, the front door.
Duration : 0:6:22