Charging the Nameless

The Inspector General for HUD has just released a series of reports documenting problems with the foreclosure processes of five big lenders - Citicorp, JP Morgan, BofA, Welles Fargo and Ally.  The IG said, “I believe the reports we just released will leave the reader asking one question — how could so many people have participated in this misconduct? The answer — simple greed.”  Yet, who is being charged for these crimes?

Many of the charges have become common such as invented titles for those signing documents and documents which were checked for format and spelling errors, not for facts.  Not prosecuting the higher-ups responsible for these crimes has also become quite common.