I have been closely following the news about the Cuyahoga County Grand Jury Indictment of the Argent Mortgage employees, and frankly, as far as I am concerned, they are just a drop in the bucket of all the fraudulent mortgage activity that had been allowed over the last few years. If this financial crisis had not happened, who knows how much more mortgage fraud would be going on right now.
I find it insulting, to say the least to know that American banks are taking advantage of prospective buyers just so that their employees can earn a few extra bucks, when by their actions they can destroy the lives of numerous desperate families that are already on the edge. Did the banking crisis cause the recession, or did the recession cause the banking crisis? We will most likely never know, however, it is sure that the banking crisis is a factor, if not the cause of the long continuation of the problems facing the American financial system, and several specific states, Ohio being one of the most affected by the current mortgage, foreclosure, and bankruptcy issues.
So many companies in Ohio have had to close, or consolidate, close some of their operations, let people go, or lay people off. These people in turn, then cannot pay their mortgage, and go into foreclosure. It is a never ending cycle, that needs to be fixed for our Ohio economy to get better, and the rest of the country too.
Most families in Ohio are sitting on pins and needles, waiting for the next shoe to drop, hoping and praying that their jobs will stay intact for another few months. I personally would like to see a lot more indictments to companies like Argent, whose employees thought it would be good fun to torment hardworking American families.