[CAF Note: I had someone tell me the other day that there were no serious warnings regarding the extent of the fraud in the US housing bubble. That is simply not true.. Chris Sanders published this piece five years before Freddie Mac and Fannie Mae were nationalized. Why did institutional investors repeatedly ignore warnings from numerous credible sources, including myself or an experienced investment professional such as Sanders? That is a question that needs to be addressed.]
By Chris Sanders, October 2003
On the 29th of October, a trial begins in a Federal courtroom in Washington DC. The defendant in the case is our own distinguished advisory board member Catherine Austin Fitts.