Friday, February 10, 2012

SEC will sue big banks for fraud that helped create the financial crisis

How to get very rich - fraud. The wonderful values of the very rich which help them succeed : greed and dishonesty.

http://thinkprogress.org/politics/2012/02/09/421880/morning-briefing-february-9-2012/

By ThinkProgress on Feb 9, 2012 at 9:00 am

Federal regulators with the Securities and Exchange Commission will sue several big banks for contributing to the financial crisis through the sale of bonds linked to subprime mortgages. The SEC is expected to argue that the banks misrepresented the poor quality of the loans pools they bundled and sold to investors. The suit represents a greater crackdown on Wall Street giants that have yet to be held accountable for their role in the economic downturn.

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