1-10D Abacus Small Enough to Jail

12345678910111213141516171819
Across
  1. 5. Since the government could not prosecute big banks for the 2008 crisis, they targeted a smaller, ___ - ___ bank, which was small enough to jail.
  2. 8. Per the documentary, if the big banks of America had operated as ethically as Abacus, there never would have been a ___ ___ .
  3. 10. Like George Bailey from It’s A Wonderful Life, Mr. Sung used his ___ with his customers & ended a bank run. Customers trusted him & deposited their money.
  4. 13. 2009, Manhattan District Attorney, Cyrus Vance, accused Abacus Bank of being one of the causes of the 2008 ___ ___ .
  5. 14. In the end: Abacus received federal supervision & Ken Yu went to jail. But Abacus was the only bank in America to be charged for mortgage fraud related to the ___ ___ .
  6. 15. ___ ___ refers to the number of customers who stop paying on their loans. Very few Abacus customers do this, which is why Abacus was found innocent.
  7. 16. Allegedly, U.S. government could not prosecute big banks for 2008 crisis, so they prosecuted Abacus; Abacus was ___ ____ to jail.
  8. 18. When customers make a run on a bank, the bank can fail & close because most of the ___ is not in the safe. It is loaned to other customers in the form of mortgages.
  9. 19. When a customer lies about their income, but pays their mortgage once approved, this is called ___ for ___ . It occurred at Abacus, but allegedly it is not a serious crime.
Down
  1. 1. Allegedly, the government could not charge big banks for the 2008 crisis, because doing so would collapse the ___ ___ in the U.S..
  2. 2. This documentary argues that the gov prosecuted Abacus because City Corp, Chase, etc. were ___ ___ ___ ___ & prosecuting them would hurt the whole financial system.
  3. 3. When Abacus learned its employees were committing fraud, they fired them & reported the incident to their ___ , the Office of Thrift management.
  4. 4. When a bank issues a mortgage, but there was no intention to pay, this is fraud for profit, motivated by ___ ___ , not by gaining access to a place to live.
  5. 6. Thomas Sung wanted to be like the movie character George Baily, so he started a bank to help ___ get mortgage loans for homes.
  6. 7. Thomas Sung is a banker in Chinatown, NY & he helps his community like the main character in the movie “It’s A ___ ___ “.
  7. 9. When Thomas Sung moved to Chinatown, NY, none of the banks served the ___ community, or were owned by [same].
  8. 11. Before Ken Yu, an Abacus manager was investigated for embezzling, causing customers to ___ a ___ on the bank. They withdrew millions of dollars before Mr. Sung calmed them.
  9. 12. When Mr. Sung started his bank to help Chinese immigrants get homes, he named it ___ , which is a calculator in his home country.
  10. 13. Abacus’ trouble began Dec 2009. They were acquitted June 2015. Abacus spent millions of dollars as they endured this ___ - ___ battle with the Manhattan DA.
  11. 17. Before the Abacus Bank, the banks in Chinatown would only let citizens deposit money. Banks would not ___ ___ to Chinese customers.