President Pardons Mortgage Scammer: A Trend?
In keeping with lame duck Presidential tradition, George W. Bush recently pardoned a number of convicted criminals including Timothy Alfred Thone, who was convicted of making a false statement to the US Department of Housing and Urban Development (HUD) to get a mortgage loan. During the past year, several federal indictments have been made including multiple counts connected with various types of mortgage fraud including house flipping schemes, “straw” buyers, and fraudulent mortgage applications for FHA/HUD mortgages.
Will Bush pardon more mortgage scammers? Will he encourage current and potential mortgage fraud by pardoning more criminals who’ve helped bring the mortgage industry to its knees, while cronies such as John Mc Cain continue to blame homeowners for the mortgage mess? Stay tuned, folks.
April 3rd, 2008 at 8:23 am
Thanks for clarifying this, Hardy. I almost forgot that from Bush’s POV, it’s more important to reward the crooks than to look after all those poor folks who’ll soon be out on the streets when their mortgage loans are foreclosed!