Eric Holder To Crack Down On Mortgage Fraud

Considering that the most prominent fraudsters were huge Democrat donors and politicians, and with the Department of Justice itself clogged with these criminals, it will be interesting to see how honestly the most politicized Justice Department in history will handle this. I have a feeling that this is all a charade that will do nothing until after the election, after which, it will all go away.

"On Tuesday night, the President referenced this initiative, asking us to, 'hold accountable those who broke the law, speed assistance to homeowners, and help turn the page on an era of recklessness that hurt so many Americans,'" Attorney General Eric Holder said this morning. "That is precisely what we intend to do."

In addition to "illegal" activity, Holder indicated that he will try to punish "unethical" financial industry practicies. "We also have learned that behavior that is unethical or reckless may not necessarily be criminal," the attorney general said.  "When we find evidence of criminal wrongdoing, we bring criminal prosecutions.  When we don’t, we endeavor to use other tools available to us – such as civil sanctions – to seek justice."

Obama's Secretary of Housing and Urban Development (HUD), Shaun Donovan, added, during the same press conference, that "We still have unfinished business with those responsible for this crisis."