Across
- 5. Since the government could not prosecute big banks for the 2008 crisis, they targeted a smaller, ___ - ___ bank, which was small enough to jail.
- 8. Per the documentary, if the big banks of America had operated as ethically as Abacus, there never would have been a ___ ___ .
- 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.
- 13. 2009, Manhattan District Attorney, Cyrus Vance, accused Abacus Bank of being one of the causes of the 2008 ___ ___ .
- 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 ___ ___ .
- 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.
- 16. Allegedly, U.S. government could not prosecute big banks for 2008 crisis, so they prosecuted Abacus; Abacus was ___ ____ to jail.
- 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.
- 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. Allegedly, the government could not charge big banks for the 2008 crisis, because doing so would collapse the ___ ___ in the U.S..
- 2. This documentary argues that the gov prosecuted Abacus because City Corp, Chase, etc. were ___ ___ ___ ___ & prosecuting them would hurt the whole financial system.
- 3. When Abacus learned its employees were committing fraud, they fired them & reported the incident to their ___ , the Office of Thrift management.
- 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.
- 6. Thomas Sung wanted to be like the movie character George Baily, so he started a bank to help ___ get mortgage loans for homes.
- 7. Thomas Sung is a banker in Chinatown, NY & he helps his community like the main character in the movie “It’s A ___ ___ “.
- 9. When Thomas Sung moved to Chinatown, NY, none of the banks served the ___ community, or were owned by [same].
- 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.
- 12. When Mr. Sung started his bank to help Chinese immigrants get homes, he named it ___ , which is a calculator in his home country.
- 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.
- 17. Before the Abacus Bank, the banks in Chinatown would only let citizens deposit money. Banks would not ___ ___ to Chinese customers.