Criminal fraud may be the most underreported aspect of our current financial crisis - May 13, 2009
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Understanding info is a powerful thing. Thank you to all of your reporters for making a significant difference. - Nancy SmithEaken
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In this "Road to Ruin" report, former subprime lenders from Ameriquest, once the country's largest lender, describe a system rife with fraud. They describe how a "by-any-means-necessary" policy pushed employees to cut corners and falsify documents on bad mortgages and then sell the toxic assets to Wall Street banks eager to make fast profits.
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