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Road to Ruin: Mortgage Fraud Scandal Brewing

By Lagan Sebert on May 11, 2009

574 Comments

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.

Keywords: Economy, Politics, Ameriquest, Argent, bailout, Citigroup, Financial Crisis, Foreclosure, Mortgage fraud, Obama, predatory lending, Roland Arnall, subprime, subprime lenders, Wayne Lee

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