Operation Malicious Mortgage

[dogindia]

http://www.huffingtonpost.com/

so how deep will this justice department go?

[tridim]

1. It's just a few bad apples.. Would be my guess.

[Warpy]

2. Probably as far as Bear Stearns

because they've already done the unthinkable, admit they failed and were bankrupt. There's nothing to lose going after those old boys.

There is still a great deal left to lose going after the real players, Countrywide, Citibank, and the thousands of offshore hedge funds that snipped those bad loans into little pieces and laundered bundles of the pieces as structured investment vehicles, "securities" so exotic that nobody knew what they were or how to value them, to financial institutions worldwide.

They'll get a few big fish from Bear Stearns. They'll miss the other big fish as they try to convince bankers who know better that the problem has been taken care of and their remaining SIVs are sound as Gibraltar.

They'll also parade this around to try to convince those of us who know better that a deregulated system will somehow work.

[TomInTib]

3. I've never been cuffed that friendly.

Linked cuffs, my ass.

I hope they het tossed into the GenPop.