Don't forget about Ribotsky's other big scam
He was involved in bundling up mortgage-backed securities, and it involved one of the big commercial banks, and I think the losses were like a billion dollars.
Can anyone remember the name of the bank involved?
But remember that at the time, the government was encouraging the housing bubble. They wanted to "securitize" mortgages, to keep the whole Ponzi scheme going.
So, I am wondering if they are ever really going to go after him. It might expose a lot of fraud that they don't want exposed.
