January 27th, 2012
12:07 PM ET

Federal task force to investigate mortgage crisis misconduct

Attorney General Eric Holder announced Friday the creation of a wide-ranging federal task force to investigate those responsible for misconduct that led to the financial crisis related to the sale of residential mortgage-backed securities.

Holder said the Residential Mortgage-Backed Securities Working Group will consist of more than 50 Department of Justice attorneys, analysts, agents and investigators around the United States.

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Filed under: Economy • Finance • Justice
soundoff (16 Responses)
  1. fbrothers

    Another cover-up headed your way. Bet the investigation does not finish until after the election. This will probably cost the taxpayer another million or so.

    January 27, 2012 at 12:22 pm | Report abuse |
  2. BOMBO ©

    Task forces are extremely efficient and always get to the bottom of things.

    January 27, 2012 at 12:27 pm | Report abuse |
    • banasy©

      Oh, I know, I know...task forces always generate more questions than answers...

      January 27, 2012 at 3:22 pm | Report abuse |
  3. banasy©

    I have always foung that to be so, BOMBO ©.
    They'll get to the heart of things.

    January 27, 2012 at 12:46 pm | Report abuse |
  4. US Citizen

    they can start with any mortgage arranged under the 2/28 program using the no doc loan process. I guarantee someone at the closing table was guilty of fraud. unless they were deaf and blind. we all know they are dumb.

    January 27, 2012 at 2:06 pm | Report abuse |
  5. Pete

    Barack has commissioned a group of FBI,CIA,and other governments task forces;DEA,ICE in Florida to combat medicade,Medicare fraud.It's working,already in first month they caught one person billing Medicaid,Medicare at 2 million a month.Obama will do the same here as with his other projects,he is a person that makes things happen.Example;Bin Laden,Gaddafi, and other subjects,too long to list.Don't see Repubs doing that ,Bush and the rest of your cronies,just giving more of the same lip service.So beware mortgage companies,lending companies,he's after you...

    January 27, 2012 at 2:19 pm | Report abuse |
    • HPNIII

      Just send a drone over wall street, it will keep the collateral damage to a minimum that way.

      February 2, 2012 at 4:17 pm | Report abuse |
  6. wOT

    Crooks helping Crooks

    January 27, 2012 at 9:31 pm | Report abuse |
  7. TORI©

    Doesn't this garbage on mortgages to ineligible people go way back to the Clinton administration? I can't recall the senators involved in this. Maybe I am remembering something else but feel free to help a kid out.

    January 27, 2012 at 10:37 pm | Report abuse |
  8. TORI©

    I both agree and disagree with you on this issue@brickdaddy. No expensive task force of yes men is needed. I do not believe that these so called mortgages were given only to people of color.

    January 27, 2012 at 11:04 pm | Report abuse |
  9. queenaud

    I don't know which President should be blamed but I'm sure they never intended that all qualifying would virtually disappear. This was the banks responsibility & possibly some buyers who abused the system. The banks should be hung, drawn and quartered!! But will they hell! After the investigation we will hear of huge bonuses again.

    January 28, 2012 at 12:02 am | Report abuse |
  10. L.A. Law

    Really? Task Force...? Brilliant idea hope he's going to make some jail space available too. 😉

    January 28, 2012 at 12:05 am | Report abuse |
  11. Dude

    If they do a "real" investigation... A lot of 1 percent heads would roll. This is highly unlikely to happen.

    January 28, 2012 at 7:11 pm | Report abuse |
  12. Philip

    The nazis made flying saucers,I my self would prefer tea cups that bump up and down.

    January 29, 2012 at 12:12 am | Report abuse |
  13. Andreas Moser

    We could have seen the mortgage and debt crisis coming. There was a warning: http://andreasmoser.wordpress.com/2011/01/11/a-literary-explanation-of-the-us-housing-bubble/

    January 29, 2012 at 10:11 am | Report abuse |

    lets waste some more money instead of lowering intrest rates..

    January 29, 2012 at 11:25 pm | Report abuse |