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clifmo t1_j3o1kez wrote

Reply to comment by asdaaaaaaaa in Woman sentenced to three years in state prison for collecting $400,000 in viral GoFundMe scam by AudibleNod

Fun fact! I work in a building that was massive loan services processing center specializing in mortgage backed securities. The feds definitely raided and confiscated the whole building and all company assets. The owner was convicted on 14 counts and sentenced to 30 years back in 2011. There was an entire episode of CNBC American Greed about it. https://en.m.wikipedia.org/wiki/Taylor,Bean%26_Whitaker

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ONESNZER0S t1_j3p14w3 wrote

Wasn't that a relatively small player though? They never did anything to the big name execs.

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azurleaf t1_j3r1c2d wrote

Many people don't realize that some mortgage processors, like Fannie Mae and Freddie Mac, were completely bought out and taken over by the US Government for the 2008 fiasco.

They were publicly traded companies, and still are some of the largest in the world. Part of the bailout deal was a hostile takeover, and that they send all profits to the US Treasury indefinitely. The entire company was basically gutted and replaced.

Not every high ranking rich dude got off scott free, but a lot of them did.

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