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They got paid to assess risk, and yet when they came across loan applications that should have set off alarms, their supervisors didn't want to hear about it. >> even if we suspected, we had to say this appears to be incorrect. you would never say this looks fraudulent. >> fraud in the due diligence world, fraud was the "f" word or the "f" bomb. you didn't use that word. >> even if a loan was clearly stated income that made no sense, there was no support. >> but you didn't use the word fraud. >> but it was fraud? you saw loans -- >> by your terms and my terms, yes, it was fraud. >> the obama j...

Loan applications that should have set off alarms, their supervisors didn't want to hear about it. >> even if we suspected, we had to say this appears to be incorrect. you would never say this looks fraudulent. >> fraud in the due diligence world, fraud was the "f" word or the "f" bomb. you didn't use that word. >> even if a loan was clearly stated income that made no sense, there was no support. >> but you didn't use the word fraud. >> but it was fraud? you saw loans -- >> by your terms and my terms, yes, it was fraud. >> the obama justice department has vetted these shady banking practices a...

Well, there's new movement today on the foreclosure mess. wisconsin congresswoman tammy baldwin is introducing a congressional resolution, calling on the obama administration and state attorneys general to investigate the banks, which is different from settling with the banks, i might add, to investigate the banks over their so-called robo signing scandal. state attorneys general and the obama administration have been negotiating with the banks over a settlement. bear in mind, there never has been an investigation, which has always been peculiar. anyway, a settlement of claims arising from imp...

murdoch's protege rebekah brooks to show up tomorrow to answer questions. despite her arrest over the weekend, her spokesman says she will be there. she's denying she knew her reporters hacked phones for scoops while she was the newspaper's editor. rupert murdoch, chairman of news corp, and his son james are expected to testify alongside brooks tomorrow. they will appear before parliament's media committee. a heatwave hitting the middle of u.s. extremely high humidity makes it feel as hot as 117 degrees in some places. that heat is creeping east. >> brutal. i probably lost 10 pound...

Kong and london you're watching "world business today." the veil of secrecy on swiss accounts of some 2,000 prominent accounts may be lifted. former banker rudolph elmer gave wikileaks founder julian assange two disks monday filled with secret swiss banking records. assange says wikileaks could release the information within weeks. elmer describes himself as a reformer who wants transparency in a clandestine banking system he says damaging society. the swiss government will haul him into court tomorrow for his trouble, accusing him of breaking secrecy laws. president global economic slump pu...