DOJ Trains AUSAs to Chase Mice While Lions Roam the Campsite
By William K. Black
In researching my series of articles on the critical omissions in Attorney General Eric Holders press release about the settlement with Citi I realized that I need to write multiple articles about the destructive role played by Benjamin Wagner. Holder made Wagner DOJs leader on mortgage fraud because Wagner was so willing to propagate the single most absurd, destructive, but so very useful (to the administration and the banksters) lie about mortgage fraud.
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 doesnt make any sense to me that they would be deliberately defrauding themselves, Wagner said.
This column addresses a single article Wagners shop published in a journal volume entitled Mortgage Fraud to train Assistant U.S. Attorneys (AUSAs) on how to investigate and prosecute mortgage fraud. 32 UNITED STATES ATTORNEYS BULLETIN MAY 2010. The title of the article is Finding the Smoking Gun, and the author is Barbara E. Nelan, Assistant United States Attorney, Northern District of Georgia.
This article exemplifies three decisive DOJ failures led by Wagner. AUSAs were trained by Wagner to believe three lies:
1.The bank, by which he really meant the bank CEO, was always the victim of mortgage fraud and never the leader of those frauds
2.Banking regulatory agencies had no meaningful role to play in detecting, investigating, and aiding the prosecution of frauds that was worth mentioning in the training, and
3.Whistleblowers had no meaningful role to play in detecting and aiding the prosecution of frauds that was worth mentioning in the training
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