Will the Mortgage Industry Pay for Its Crimes?将按揭业支付其罪行？
By通过 Danny Schechter丹尼Schechter已 | There is a time in the life of every writer when you find yourself fearing that you have become a robo call phone machine — repeating the same message over and over and with diminishing results. |有一个时间，在每个人的生命的作家时，您会发现自己怕你已成为机器人通话机-重复同样的讯息，超过及以上，并与减少的结果。
That’s how I felt after 8 months of silence after labeling the credit crisis a “subcrime” scandal, lashing out at the fraudulent activity at its core and calling for the investigation and prosecution of wrongdoers.这就是如何我觉得后8个月的沉默后，贴标信用危机“ subcrime ”丑闻，绑扎在欺诈活动，其核心，并要求调查和起诉肇事者。 Almost no media outlets accepted this way of framing the problem, although as usual, the British press was ahead of its American cousins in putting the blame on the bankers, not the borrowers.几乎没有媒体接受这种方式的制定问题，虽然像往常一样，英国媒体是未来其在美国的表亲诿过于银行家，而不是借款人。
When the FBI announced a probe of 14 mortgage companies, I thought that finally some investigators were on the case.当美国联邦调查局宣布，探针14按揭公司，我以为最后的一些调查人员对案件。 But then, word leaked that they were only going after small fish even as big banks reported losses in the billions.但后来， Word会泄露他们只是去后，小鱼，甚至作为大银行报告，损失在十亿美元。
Bank robberies have always been up the FBI’s alley, and after all, this is a bank heist case, perhaps one of the biggest in history.银行劫案一直上升，联邦调查局的胡同，毕竟，这是一间银行heist情况下，也许其中最大的在历史上。 Only it was the banks that were doing the heisting.只是，这是银行做heisting 。
The New York Times reported May 5th that a new criminal investigation was finally underway. 新的纽约时报报导， 5月5日，一个新的刑事调查，终于展开。
A G-Man explained anonymously: “The latest inquiry is broader and deeper. 1克文解释，类似的： “最新的调查更广泛和更深入。 This is a look at the mortgage industry across the board, and it has gotten a lot more momentum in recent weeks because of the banks’ earnings shortfall.”这是一个看看按揭业的全国委员会，并已得到了地段更势头，在最近几个星期，因为银行的收入短缺“ 。
At last, institutional fraud may be on the agenda.最后，体制欺诈，可于议程内。 At last, deeper questions are being asked.最后，更深的问题，现正问。 There have been some Congressional hearings but so far none have risen to a Watergate-type level prompting in-depth investigations fueled by subpoenas.有一些国会听证会，但至今无一上升到一水型水平，促使在深入调查，刺激了传票。
Slowly, oh so slowly, news outlets are recognizing this is a big crime story, one they missed for years, or at least since 2002 when subprime securities started being packaged for sale.慢慢地，哦，所以慢慢地，新闻媒体正在认识到这是一个很大的犯罪故事，他们错过了1年，或至少是自2002年以来，当次级证券开始包装出售。
Reports the Washington Independent :报告在华盛顿的独立 ：
“As loans made to borrowers with decent credit begin to fail at a surprisingly rapid rate, it’s becoming clear that widespread fraud helped support the entire mortgage system — from borrowers who lied on their loans, to brokers who encouraged it, to lenders who misled some low-income borrowers, to the many lenders, investors and ratings agencies that conveniently and deliberately looked the other way as profits rolled in. “作为贷款的借款人的信用与体面的开始要失败的一个令人惊讶的快速率，它的越来越清楚广泛的欺诈行为，帮助支持整个抵押制度-从借款人谁说谎，对他们的贷款，经纪谁鼓励它，放款谁误导，一些低收入的借款人，许多贷款人，投资者和评级机构认为，方便和刻意期待其他方式作为利润，推出英寸
Despite its widespread role, fraud hasn’t yet been at the forefront of proposed rescue plans, which center on refinancing people out of loans now resetting to higher rates.”尽管其广泛的作用，欺诈尚未一直站在最前列拟议的拯救计划，其中中心对再融资的人贷款，现在重置，以更高的利率“ 。
Why would reputable bankers and respected investment houses engage in these dishonest activities?为什么会信誉良好的银行家和尊重的投资家在从事这些不诚实的活动？ The short answer: money, and lots of it.简短的回答：金钱，很多。
Sales from Collateralized Debt Obligations (CDOs) jumped from $157 billion in 2004 to $559 billion in 2006 according to a study for the North Star Fund by Kevin Connor.销售从抵押债务（ cdos ）从一千五百七十○点零零亿美元在2004年559000000000美元在2006年根据一项研究，为北星基金由凯文康纳。 Ten investment banks in all were underwriters for 70% of some $486 billion in securitizations in 2006. 10投资银行在全部包销商为70 ％的一些四千八百六十零万点零万美元在证券化在2006年。
The banks had a motto: “It’s all about capital.”银行有一个座右铭： “这都是资本” 。
Subprime-related securities produced large multi-million dollar bonuses for traders and executives as well as high revenues for the firms.次级相关证券制作的大型多万美元的奖金，为贸易商和行政人员，以及高收入为公司。 In the years when business was booming CEOs at big firms were making $10 to $50 million annually apiece.在未来几年，当业务蓬勃发展的地球观测卫星委员会在大公司作出了10元到5000万美元，每年分。 Collectively, in 2006, a year before their fall, the big banks earned a stunning $130 billion.集体，在2006年，一年前他们的秋天，大银行赚了惊人的1300亿美元。
Even after these practices came to light, hefty bonuses continued.即使在这些做法揭发，巨额奖金继续。 Wall Streeters walked away with $31 billion at the end of 2007, only one billion less than the year before.墙streeters走开了与310亿美元于2007年底，只有10.0亿，较前一年。 Executives who were fired still received multi-million dollar payoffs.主管谁被解雇仍接到多万美元的贿赂。
Most media outlets considered this business as usual, not shocking or illegal.大多数媒体认为，这一切运作如常，而不是令人震惊的或非法的。
Not even when some of these loans were called “liars’ loans” in the industry as when loan orginators colluded with or advised borrowers on how to lie on their applications.不，甚至当一些这些贷款被称为“说谎者贷款”在业内人士时，贷款orginators勾结或建议借款人就如何说谎对他们的申请。 It was all done with a wink and a nod, reported the Washington Independent .这是所有做一个眨眼和点头报道， 华盛顿独立 。 They interviewed many insiders and experts who contended that:他们采访了许多业内人士和专家谁认为：
” … pervasive fraud was, indeed, a problem — on the lender’s side. “ … …无孔不入的欺诈行为，事实上，一个问题-对贷款人的一边。 At the peak of the housing boom, they say, the nation’s mortgage system was set up to promote and encourage outright fraud in order to close a loan — and everyone, from brokers to loan officers to Wall Street, looked the other way.在高峰期，房市繁荣，他们说，民族的按揭制度，成立了以促进和鼓励买断欺诈行为，以密切贷款-大家，从经纪的贷款人员到华尔街，期待其他方式。 Borrowers also were put into products like payment-option arms that were unsuitable — and lenders knew it.借款人也被放进产品，如付款选择的武器不适合-和放款人知道它。 “They were pushed like Vioxx, with very little regard for their dangers,” said Kathleen Keest, senior policy counsel with the Center for Responsible Lending, a research group that investigates predatory lending. “他们推一样， Vioxx的，很少顾及他们的艰难险阻，说： ”凯瑟琳keest ，高级律师与政策中心负责贷款，一个研究小组，负责调查的掠夺性贷款。
Wall Street was not a passive player either because of all the money they made from “subcrime” transactions.华尔街是不是一个被动播放器，因为所有的钱，他们取得了从“ subcrime ”交易。 In some cases they paid more for loans with predatory characteristics.在某些情况下，他们付出更多的贷款与掠夺性的特点。 Loan originators at the local level — as sleazy as many were — reported that it was the Wall Street firms that dictated the types of loans they wanted and their underwriting criteria.贷款原创，在地方一级-作为s leazy作为，许多人-报道说，这是华尔街公司认为，取决于该类型的贷款，他们希望和他们的承保标准。 Thus the so-called “secondary market” was really in charge.因此，以所谓“二手市场”是真正的负责。
This is why I and others insist this was a Wall Street crime wave built around predatory practices.这就是为什么我和其他人坚持这是一个华尔街的犯罪浪潮建立在掠夺性做法。 The people who had the most were deeply complicit in ripping off the people who had the least.人民的谁了最深切串通，在转存人民的小康谁曾最少。 What’s worse, they had no legal liability in these unscrupulous deals.什么更糟的是，他们没有法律责任，在这些不法交易。
How did America’s leading business magazine respond after the credit crisis brought Wall Street to its knees? Fortune called the credit crisis “both totally shocking and utterly predictable.” For them it was shocking not because of the human devastation or the millions of families who were cheated and faced foreclosure or because of the rippling effects on our society, but because the “best minds in the business … managed to lose tens of billions.”如何做美国的领先的商业杂志回应后，信用危机带来的华尔街到其膝盖？ 财富的所谓信用危机“完全令人感到震惊和完全可预见的。 ”他们这是令人震惊的，不是因为人类的破坏或以百万计的家庭谁被欺骗和面临的赎回，或因该波及的影响，我们的社会，而是因为“最好的头脑，在业务管理…失去了数百亿” 。
And “predictable?” Again, not due to the lack of regulation or the enabling of shoddy products by our government but “because whether it’s junk bonds or tech stocks or emerging-market debt, Wall Street always rides a wave until it crashes.” What a contrast to the usual celebratory coverage, but also what a cop-out to explain it all away.和“可预见” ？再次，而不是由于缺乏规例或有利的伪劣产品是由我们的政府，而是“因为无论它的垃圾债券或科技类股或新兴市场债券，华尔街总是游戏机的浪潮，直到它坠毁“什么是相反，一般的庆祝覆盖，但也什么缔约方大会第八届会议，以解释这一切。
Warren Buffet, perhaps America’s most successful investor, sounded disgusted:华伦自助餐，也许是美国最成功的投资者，吹响了反感：
“Wall Street is going to go where the money is and not worry about consequences; Wall Street is reaping what they’ve sown,” he shrugs. “华尔街是去那里有钱不必担心后果;华尔街是收获是什么，他们已经播下了， ”他耸耸肩。 Said his vice chairman: “If this were an Alice in Wonderland fable, you’d say it’s too extreme.说，他的副委员长说： “如果这是一李翘如在仙境的故事，您想要说的过于极端。 It wouldn’t work as satire.它不会工作作为讽刺。 Adults are not going to behave this way.”成年人是不打算这样的行为“ 。
But adults did — and continue to.但成年人却-和继续。 So far, they have been well rewarded as well.直至目前为止，他们已以及奖励以及。 The question is: what are the rest of us, and our prosecutors, going to do about it?问题是：什么是我们其余的，而我们的检察官，要怎样呢？
See More: 看到更多的： FBI 美国联邦调查局 Money 金钱 USA News 美国新闻Have Your Say: Will the Mortgage Industry Pay for Its Crimes? 你说：将按揭业支付其罪行？
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