No one mentions the fraud. Yesterday I listened to Obama's speech waiting to hear the words that would show me that this administration understands the large scale fraud and law violations behind the mortgage meltdown. Nothing. The company who perpetrated these violations of law, in my case, was GMAC who owns 50% of Homecomings Financial along with Cerberus a hedge fund company. Meanwhile we have Rick Santelli of CNBC spewing hate at delinquent homeowners. Perhaps they protest from a guilty conscience. No where is my situation represented in the discussion of foreclosure in America. I will provide links and sources that make it clear that fraud has contributed significantly to the current crises. Follow me over the fold for a discussion about accounting and mortgage fraud in the banking industry and it's very conspicuous absence from discussions about foreclosures. It's absence speaks louder than words.
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