Obama’s Massive Fraud
...Attorney General Eric Holder’s minions have recently sued Bank of America and UBS. The complaints filed in court by prosecutors allege that these financial institutions defrauded investors in the sale of mortgage-backed securities by failing to disclose important facts about the underlying mortgages. Indeed, prosecutors asserted that financial institutions’ statements about these securities were both lies and, even where arguably true, material omissions. That’s because the statements withheld from investors the fact that the institutions well knew, based on internal analyses, that many of the mortgages backing the securities would go into default.

Recall that President Obama knew three years ago, based on internal analyses, that because of his administration’s own regulation-writing, millions of Americans would lose the health plans he nonetheless continued to promise they could keep. The president hid the data . . . just as did those financial institutions that his trusty attorney general has sued. Comparatively speaking, though, the financial institutions defrauded significantly fewer victims. Thus it is noteworthy that Holder is now demanding that the institutions pay hundreds of millions of dollars for their fraudulent misrepresentations....