Hundreds Arrested In Mortgage Sting

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We're still obsessing over the Feds perp-walking former Bear Stearns' executive Ralph Cioffi and Matt Tannin in order to inflict as much damage as possible on the two men. But it didn't start with Bear. Since the beginning of March, the FBI has arrested over 400 people in a sting dubbed "Operation Malicious Mortgage." On just one day, yesterday, sixty people, including real estate players in Chicago, Miami and Houston.
In other news, the Justice Department also is expected to ask Congress for more money to help combat mortgage fraud.
Hundreds swept up in mortgage fraud arrests [Associated Press]

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