Tag Archives: Countrywide

Government Goes After Main Street, Forgets Wall Street

Paying for Wall Street's Sins

From the NY Times Story “In Prison For Taking A Liar Loan”

The little guy just can’t catch a break these days.  While no one on Wall Street has gone to jail for criminal behavior related to mortgage fraud (or any fraud related to the financial meltdown), we now have at least one regular Joe who has.

This New York Times story will shock you.  The FBI has sunk to levels that certainly seem unconstitutional in this case and are certainly immoral.  Charlie Engle is now sitting in prison. When he gets out he gets the pleasure of paying over $260,000 of restitution to….wait for it….Bank of America/Countrywide.  That’s correct, Angelo Mozillo is still on the streets and still a mega millionaire – but Charlie Engle sits in jail.

His crime? Lying on a mortgage loan (though he wasn’t technically even convicted of that), and the evidence shows he didn’t.

Summarizing this article is not enough, you’ve got to read it.  Mr. Engle is not just a victim, he ends up being an inspirational figure and maintains a blog, Running In Place where he blogs from prison.

If this story isn’t proof of a corrupted justice system, I’m not sure what is.