Will the Mortgage Industry Pay for Its Crimes?將按揭業支付其罪行？
By通過 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. |有一個時間，在每個人的生命的作家時，您會發現自己怕你已成為機器人通話機-重複同樣的訊息，超過及以上，並與減少的結果。
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.這就是如何我覺得後8個月的沉默後，貼標信用危機“ subcrime ”醜聞，綁紮在欺詐活動，其核心，並要求調查和起訴肇事者。 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.幾乎沒有媒體接受這種方式的制定問題，雖然像往常一樣，英國媒體是未來其在美國的表親諉過於銀行家，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.當美國聯邦調查局宣布，探針14按揭公司，我以為最後的一些調查人員對案件。 But then, word leaked that they were only going after small fish even as big banks reported losses in the billions.但後來， Word會洩露他們只是去後，小魚，甚至作為大銀行報告，損失在十億美元。
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.銀行劫案一直上升，聯邦調查局的胡同，畢竟，這是一間銀行heist情況下，也許其中最大的在歷史上。 Only it was the banks that were doing the heisting.只是，這是銀行做heisting 。
The New York Times reported May 5th that a new criminal investigation was finally underway. 新的紐約時報報導， 5月5日，一個新的刑事調查，終於展開。
A G-Man explained anonymously: “The latest inquiry is broader and deeper. 1克文解釋，類似的： “最新的調查更廣泛和更深入。 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.”這是一個看看按揭業的全國委員會，並已得到了地段更勢頭，在最近幾個星期，因為銀行的收入短缺“ 。
At last, institutional fraud may be on the agenda.最後，體制欺詐，可於議程內。 At last, deeper questions are being asked.最後，更深的問題，現正問。 There have been some Congressional hearings but so far none have risen to a Watergate-type level prompting in-depth investigations fueled by subpoenas.有一些國會聽證會，但至今無一上升到一水型水平，促使在深入調查，刺激了傳票。
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，新聞媒體正在認識到這是一個很大的犯罪故事，他們錯過了1年，或至少是自2002年以來，當次級證券開始包裝出售。
Reports the Washington Independent :報告在華盛頓的獨立 ：
“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. “作為貸款的借款人的信用與體面的開始要失敗的一個令人驚訝的快速率，它的越來越清楚廣泛的欺詐行為，幫助支持整個抵押制度-從借款人誰說謊，對他們的貸款，經紀誰鼓勵它，放款誰誤導，一些低收入的借款人，許多貸款人，投資者和評級機構認為，方便和刻意期待其他方式作為利潤，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.”儘管其廣泛的作用，欺詐尚未一直站在最前列擬議的拯救計劃，其中中心對再融資的人貸款，現在重置，以更高的利率“ 。
Why would reputable bankers and respected investment houses engage in these dishonest activities?為什麼會信譽良好的銀行家和尊重的投資家在從事這些不誠實的活動？ The short answer: money, and lots of it.簡短的回答：金錢，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.銷售從抵押債務（ cdos ）從一千五百七十○點零零億美元在2004年559000000000美元在2006年根據一項研究，為北星基金由凱文康納。 Ten investment banks in all were underwriters for 70% of some $486 billion in securitizations in 2006. 10投資銀行在全部包銷商為70 ％的一些四千八百六十零萬點零萬美元在證券化在2006年。
The banks had a motto: “It’s all about capital.”銀行有一個座右銘： “這都是資本” 。
Subprime-related securities produced large multi-million dollar bonuses for traders and executives as well as high revenues for the firms.次級相關證券製作的大型多萬美元的獎金，為貿易商和行政人員，以及高收入為公司。 In the years when business was booming CEOs at big firms were making $10 to $50 million annually apiece.在未來幾年，當業務蓬勃發展的地球觀測衛星委員會在大公司作出了10元到5000萬美元，每年分。 Collectively, in 2006, a year before their fall, the big banks earned a stunning $130 billion.集體，在2006年，一年前他們的秋天，大銀行賺了驚人的1300億美元。
Even after these practices came to light, hefty bonuses continued.即使在這些做法揭發，巨額獎金繼續。 Wall Streeters walked away with $31 billion at the end of 2007, only one billion less than the year before.牆streeters走開了與310億美元於2007年底，只有10.0億，較前一年。 Executives who were fired still received multi-million dollar payoffs.主管誰被解僱仍接到多萬美元的賄賂。
Most media outlets considered this business as usual, not shocking or illegal.大多數媒體認為，這一切運作如常，而不是令人震驚的或非法的。
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，甚至當一些這些貸款被稱為“說謊者貸款”在業內人士時，貸款orginators勾結或建議借款人就如何說謊對他們的申請。 It was all done with a wink and a nod, reported the Washington Independent .這是所有做一個眨眼和點頭報導， 華盛頓獨立 。 They interviewed many insiders and experts who contended that:他們採訪了許多業內人士和專家誰認為：
” … pervasive fraud was, indeed, a problem — on the lender’s side. “ … …無孔不入的欺詐行為，事實上，一個問題-對貸款人的一邊。 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，房市繁榮，他們說，民族的按揭制度，成立了以促進和鼓勵買斷欺詐行為，以密切貸款-大家，從經紀的貸款人員到華爾街，期待其他方式。 Borrowers also were put into products like payment-option arms that were unsuitable — and lenders knew it.借款人也被放進產品，如付款選擇的武器不適合-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. “他們推一樣， Vioxx的，很少顧及他們的艱難險阻，說： ”凱瑟琳keest ，高級律師與政策中心負責貸款，一個研究小組，負責調查的掠奪性貸款。
Wall Street was not a passive player either because of all the money they made from “subcrime” transactions.華爾街是不是一個被動播放器，因為所有的錢，他們取得了從“ subcrime ”交易。 In some cases they paid more for loans with predatory characteristics.在某些情況下，他們付出更多的貸款與掠奪性的特點。 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.貸款原創，在地方一級-作為s leazy作為，許多人-報導說，這是華爾街公司認為，取決於該類型的貸款，他們希望和他們的承保標準。 Thus the so-called “secondary market” was really in charge.因此，以所謂“二手市場”是真正的負責。
This is why I and others insist this was a Wall Street crime wave built around predatory practices.這就是為什麼我和其他人堅持這是一個華爾街的犯罪浪潮建立在掠奪性做法。 The people who had the most were deeply complicit in ripping off the people who had the least.人民的誰了最深切串通，在轉存人民的小康誰曾最少。 What’s worse, they had no legal liability in these unscrupulous deals.什麼更糟的是，他們沒有法律責任，在這些不法交易。
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.”如何做美國的領先的商業雜誌回應後，信用危機帶來的華爾街到其膝蓋？ 財富的所謂信用危機“完全令人感到震驚和完全可預見的。 ”他們這是令人震驚的，不是因為人類的破壞或以百萬計的家庭誰被欺騙和面臨的贖回，或因該波及的影響，我們的社會，而是因為“最好的頭腦，在業務管理…失去了數百億” 。
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“可預見” ？再次，而不是由於缺乏規例或有利的偽劣產品是由我們的政府，而是“因為無論它的垃圾債券或科技類股或新興市場債券，華爾街總是遊戲機的浪潮，直到它墜毀“什麼是相反，一般的慶祝覆蓋，但也什麼締約方大會第八屆會議，以解釋這一切。
Warren Buffet, perhaps America’s most successful investor, sounded disgusted:華倫自助餐，也許是美國最成功的投資者，吹響了反感：
“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. “華爾街是去那裡有錢不必擔心後果;華爾街是收穫是什麼，他們已經播下了， ”他聳聳肩。 Said his vice chairman: “If this were an Alice in Wonderland fable, you’d say it’s too extreme.說，他的副委員長說： “如果這是一李翹如在仙境的故事，您想要說的過於極端。 It wouldn’t work as satire.它不會工作作為諷刺。 Adults are not going to behave this way.”成年人是不打算這樣的行為“ 。
But adults did — and continue to.但成年人卻-和繼續。 So far, they have been well rewarded as well.直至目前為止，他們已以及獎勵以及。 The question is: what are the rest of us, and our prosecutors, going to do about it?問題是：什麼是我們其餘的，而我們的檢察官，要怎樣呢？
See More: 看到更多的： FBI 美國聯邦調查局 Money 金錢 USA News 美國新聞Have Your Say: Will the Mortgage Industry Pay for Its Crimes? 你說：將按揭業支付其罪行？
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