General Discussion
In reply to the discussion: Obama Is on the Brink of a Settlement With the Big Banks—and Progressives Are Furious [View all]boppers
(16,588 posts)Neither is stupidity committed by those who gamble. (Sadly).
If you gamble, and lose, I have no sympathy for you, if you're a bank, or a homeowner.
If the "fraud" is that a computer passed on the records, rather than a human, that's not fraud. (The "robo-signing" joke outrage.)
Fraud requires intent to deceive.
If a typo means you get foreclosed on a home you bought with cash, that's still not fraud.
Fraud requires intent to deceive.
If you moved into a house, without the means to pay for it, but claimed you could anyways, that's fraud.
Fraud requires intent to deceive.
See the commonality?
Fraud should be prosecuted, but "I can't pay my bills" doesn't indicate a loan crime. It indicates a possible crime committed by the person who took the loan.