I'm sure many will recall the warning of rampant mortgage fraud issued in 2004 by the FBI.

It'll be interesting to see if anybody in the industry or in Washington pays attention this time around. The article refers to a 36% jump year over year from 2008. If that doesn't get someones attention, nothing will.

http://www.reuters.com/article/topNews/idUSTRE5667LD20090707?feedType=RSS&feedName=topNews

Biden said the administration had misread how bad the economy was.

This in spite of the prior administration obligating taxpayers to over a trillion dollars to fix it.

I guess it depends on your definition of bad.

http://www.msnbc.msn.com/id/31745563/ns/politics-white_house/