William K. Black: Abacus Bank Indicted for Mortgage Fraud – More Prosecutions to Come?

Posted on June 8, 2012 by | 3 Comments

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3 Responses to William K. Black: Abacus Bank Indicted for Mortgage Fraud – More Prosecutions to Come?

  1. RyanVMarkov | June 8, 2012 at 4:01 pm |

    Great – finally mainstream media is interested as well!

  2. Pray Hard | June 8, 2012 at 5:56 pm |

    The way the banks are trying to play this out is that they’ll, as always, be the victims. They’ve already started retribution against appraisers for fighting back, starting before the economic collapse … They’re filing suit against appraisers for doing the very things they coerced them into doing prior to the crisis and are still coercing today. The duplicity is massive … Do what we tell you to do or you will lose all of our business and we’ll blacklist you … Do what we tell you to do and we’ll also sue you. The banks are going to pick off the small potatoes … individual appraisers, small title companies, individual real estate brokers, surveyors, etc., anyone who doesn’t have adequate resources to fight back and whom they can attempt to pin the blame on. Blame and appearances is the game, whoever looks best after the blood is washed off. I’m not saying that some appraisers shouldn’t bite the dust, but very little fraud was committed by appraisers without overt or covert coercion by bankers. However, some appraisers are countersuing and, I hope, winning.