Back in January, the federal government announced it was launching a new, prosecutorial task force that would go after banks for the mortgage and securities fraud that spawned the housing crisis and led to thousands suffering Miami foreclosures.
Our Miami foreclosure attorneys were hopeful this task force would finally stem the abuse of power issues that plagued these large banks and allowed them to commit crimes on such a massive level – crimes that continue to impact average people on a very real level on an every day basis.
However, we’ve been paying close attention to all the developments pertaining to issues that effect those struggling with foreclosure in Miami, and we’ve noticed that not a whole lot is happening with this task force. In fact, two months after making a splashy announcement regarding the implementation of this new team, not only does it appear stagnant – they haven’t even hired a supervisor.
This is a task force that President Obama rolled out in his State of the Union Speech. This was a task force that was supposed to slap criminal sanctions on banking institutions for the harm that they inflicted on the country’s very stability through unethical and illegal practices. This was a task force that planned to use the The Administration PR Fail on the Securitization Task Force, By Abigail Caplovitz Field, Reality Check