Crime and Punishment (or the Lack Thereof) for Financial Fraud in the Subprime Mortgage Meltdown: Reasons and Remedies for Legal and Ethical Lapses

Author:

Mayer Don,Cava Anita,Baird Catharyn

Publisher

Wiley

Subject

Law,Business and International Management

Reference534 articles.

1. See, e.g Paul Krugman Defining Prosperity Down N.Y. Times 2013 A21 http://www.nytimes.com/2013/07/08/opinion/krugman-defining-prosperity-down.html?_r=0

2. Carmen M. Reinhart Kenneth S. Rogoff Sorry, U.S. Recoveries Really Aren't Different Bloomberg 2012 http://www.bloomberg.com/news/2012-10-15/sorry-u-s-recoveries-really-aren-t-different.html

3. Jessica Silver-Greenberg Ben Protess Banks Find More Wrongful Foreclosures Among Military Members N.Y. Times 2013 B1

4. See also Marian Wang What Is a Wrongful Foreclosure? ProPublica 2011 http://www.propublica.org/blog/item/primer-what-is-a-wrongful-foreclosure available at http://naag.org/state-attorneys-general-feds-reach-25-billion-settlement-with-five-largest-mortgage-servicers-on-foreclosure-wrongs.php

5. Phillip Swagel The Cost of the Financial Crisis: The Impact of the 2008 Economic Collapse The Pew Charitable Trusts 2010 http://www.pewtrusts.org/uploadedFiles/wwwpewtrustsorg/Reports/Economic_Mobility/Cost-of-the-Crisis-final.pdf?n=6727 U.S. households lost on average nearly $5,800 in income due to reduced economic growth during the acute stage of the financial crisis from September 2008 through the end of 2009. Costs to the federal government due to its interventions to mitigate the financial crisis amounted to $2,050, on average, for each U.S. household. Also, the combined peak loss from declining stock and home values totaled nearly $100,000, on average per U.S. household, during the July 2008 to March 2009 period. The Impact of the September 2008 Economic Collapse http://www.pewtrusts.org/our_work_report_detail.aspx?id=58695

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