Ohio Does Sex and Mortgage Fraud

Mark Dann was the attorney general of Ohio. In January, Ohio Attorney General Mark Dann sued Freddie Mac and the members of its board:

Ohio Pension Fund Sues Freddie Mac

That was right after Cleveland sued 21 lenders:

Cleveland Sues 21 Lenders Over Subprime Mortgages

Shortly thereafter Mr. Dann’s office was engulfed with sex scandals related to alleged sexual harrassment by a subordinate:

State Employee on Leave Amid Sexual Harassment Allegations

He was forced to resign as a result of an accusation that he had an extramarital affair with a subordinate.

Hence, he joins the Solari Hall of “Sex and Mortgage Fraud” fame. For our earlier posts on this topic, see:

Another Unanswered Question (16 Jun 2008)
Unanswered Questions About NY Pension Funds (16 Mar 2008)
New York’s Pension Funds (15 Mar 2008)
More on Mortgage Fraud and Sex
(24 Mar 2008)
More on Mortgage Fraud and Sex (Cisneros) (24 Mar 2008)
It’s Hard Out Here For a Pimp (13 Mar 2008)
Mortgage Bubble Names & Faces (14 Feb 208)

Now the Attorney Generals of California and Illinois and the Governor of Washington are going after Countrywide Mortgage:

Countrywide’s Pressures Mount – Mortgage & Markets – Week of 6.30.08

Is the moral of the story that it is easier to make Angelo Mozilo and Countrywide the poster boy of mortgage fraud than mention that:

  • the pump and dump of the U.S. housing market was engineered at the federal level
  • it has generated billions for insiders
  • illuminating the missing and fraudulent collateral in the agency and mortgage securities market could crash the global financial system

Ah, that is too sensitive. Let’s go back to sex.

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