A new movie exposes the ‘ridiculous’ case against the one bank charged after the 2008 crisis
|05/21/2017||Posted by BusinessMediaguide.Com under General World News||
Following the 2008 mortgage crisis, which led to a $700 billion government bailout, the biggest financial institutions in the country were given a light tap on the wrist in fines and penalties. None were brought to criminal court.
But that wasn’t the case for a small, family-owned bank tucked inside Chinatown in New York City.
In 2012, Abacus Federal Savings Bank was indicted on charges of fraud in relation to hundreds of millions of dollars’ worth of mortgages that had been sold to Fannie Mae from 2005 to 2010. It’s the only bank to be indicted in connection read more >>>