Published: Oct. 6, 2008 at 5:44 PM WASHINGTON, Oct. 6 (UPI) -- Several U.S. agencies failed to see signs of fraud in the mortgage business that led to Wall Street, ABC News reported Monday after an investigation. Evidence of fraud and deception in the home mortgage business was presented to the FBI, the Securities and Exchange Commission and the Federal Reserve during the last five years, but resulted in no coordinated federal reaction, law enforcement, civil rights activists and states' attorneys general told ABC News. "The failure to connect the dots is completely reprehensible and should now lead to strong and effective indictments and prosecutions for fraud," Connecticut Attorney General Richard Blumenthal told ABC News. Federal Reserve...
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