New Economic Perspectives has the article DOJ Trains AUSAs to Chase Mice While Lions Roam the Campsite by William K. Black.
According to the article, Attorney general Eric Holder appointed Benjamin Wagner as the Department Of Justice’s leader on mortgage fraud.
Black cites a quote from Wagner.
“Benjamin Wagner, a U.S. Attorney who is actively prosecuting mortgage fraud cases in Sacramento, Calif., points out that banks lose money when a loan turns out to be fraudulent. ‘It doesn’t make any sense to me that they would be deliberately defrauding themselves,’ Wagner said.”
If you don’t understand why this statement makes Wagner a totally inept leader on mortgage fraud, then you need to read the article.
Wagner makes the Supreme Court mistake. Corporations are not people. People commit fraud to line their own pockets, not necessarily the pockets of the corporation for which they work. If a top criminal attorney can understand the crime of embezzlement, then he ought to be able to understand that “control fraud” is one way to commit that crime. If it makes no sense to him, you have to wonder if he was sleeping during that lecture in law school.
Does this ignorance of how crime is committed go all the way up the chain of command through Eric Holder and on to President Obama? That is what makes no sense to me. I am still mystified as to how these smart people are willing to let themselves appear so dumb.
Maybe these politicians aren’t so dumb after all. The majority of voters don’t seem to have figured out the magnitude of the crimes these people are allowing to go unpunished.