Business Is Booming For Federal Prosecutors Targeting Mortgage Fraud; "We're Running Out Of Bodies To Handle These Cases!" Says One U.S. Attorney

The Associated Press reports:

• Investigations into the collapse of financial titans such as Lehman Brothers, Bear Stearns and Washington Mutual have attracted most of the attention in the ongoing unraveling of the nation's mortgage-backed security mess.

• Lost in the headlines are prosecutions proceeding quietly on the local level against smaller players. In dozens of jurisdictions around the country, federal prosecutors are charging hundreds of people with originating the bad loans that helped derail the world's financial markets.

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• "We're running out of bodies to handle these cases," said [Sacramento-based U.S. Attorney MacGregor] Scott, calling on Congress to approve more money for investigators and prosecutors. "We're just being overwhelmed."

For more, see Mortgage fraud is booming business for prosecutors.