Lawmaker Seeks FBI Files On Financial Crash; Wants To See Why No Bank Execs Were Arrested – Consumerist
Millions of Americans lost their jobs, houses, savings, and more when the housing market collapsed under the weight of mortgages that should never have been approved, let alone bundled and converted into worthless, toxic securities. And yet, no senior Wall Street bank executives were ever charged with a crime. Now one U.S. congressman is asking to look at the FBI files to find out why. In a letter [PDF] sent yesterday to FBI Director James Comey, Rep. Bill Pascrell (NJ) points out that in 2004 — four years before the collapse — the FBI had already expressed concerns about questionable mortgage practices that would ultimately result in the loss of trillions of dollars in household wealth.