Fraudline: Robert Russell on the Economic Crisis

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Uploaded by on Nov 18, 2009

Former Counsel to the Director of the Office of Thrift Supervision and Senior Litigation Counsel at the FDIC discusses the role of fraud and complex financial instruments in the current financial crisis, what it will take to bring the markets back to health and the role of the government in the crisis. Fraudline - November 20, 2009 - Robert Russell

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  • Really wish that there would be more attention paid to the role of bank foreclosure attorneys and the huge amount of leeway they have in both devaluing and selling valuable properties "at will." The con games and fraud by bank insiders, particularly in the commercial real estate markets, hurt everyone, including the banks themselves, destroy innocent people with no rights to sue, and severely damages communities. Requiring proof of good faith and just cause would stop some major frauds.

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