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Inspector General of Troubled Asset Relief Program Calls Bank Problems “Systemic Fraud in the System”, Not Just Improperly Stapling Documents Together

Here’s the full quote: "You’re not talking about improperly stapling together two documents; you’re talking about systematic fraud in the system," said Neil Barofsky, the former special inspector general for the U.S. Treasury’s Troubled Asset Relief Program. "What this shows is that before the financial crisis, the banks were essentially lying to the purchasers of the mortgages about the quality."

The full article is here:
http://www.tampabay.com/news/business/banking/mortgage-foreclosure-crisis-cost-five-lenders-65-billion/1192022

Evan M. Rosen
Rosen & Rosen, P.A.
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