Does it help to explain DOJ’s failure to crack down on mortgage fraud that one of the agents assigned to investigate it was instead sleeping with–and helping defend–one of those being investigated for fraud?

The FBI just indicted Special Agent Adrian Busby for allegedly lying about how he helped an informant fight indictment. According to the release, the timeline looks like this:

Later 2007: Busby investigating a mortgage fraud case

Early 2008: Busby starts an “intimate relationship” with source

January 10, 2008: Busby gets his girlfriend named as a confidential source claiming falsely she was not under investigation

February 5, 2008: NYPD arrests source for identity theft and other fraud-related crimes

September 18, 2008: Source’s confidential source status canceled

December 2009: Busby provides source’s defense attorney with law enforcement documents to help in her defense

December 15, 2009: Source convicted

Now, what’s weird about this is that the release lists Busby as “a Special Agent of the Federal Bureau of Investigation.” That is, he seems to be still employed by the FBI.

And don’t you think it strange that it took two years to prove that Busby was lying about helping his apparent girlfriend?

I mean, no wonder DOJ hasn’t gotten around to indicting Lloyd Blankfein for fraud that brought down the entire financial system! It apparently takes FBI two years to put together a simple case of false statements against one of their own agents who was facilitating–rather than investigating–mortgage fraud.