After many months of wrangling, a foreclosure settlement has been reached between 49 state attorneys general and a consortium of banks.
It is an epic failure of law and a triumph for bank attorneys.
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A compelling argument to downsize those banks “too big to fail”. Our financial industry is fast becoming bigger than our government, and therefore, America’s real dictator. Why the Hell are banks so anxious to take over properties–even illegally?
The bigger issue is the economics of criminality. Most people who get caught committing crimes are punished. Commit a felony — if you run a bank — and your shareholders ... More »
I would have liked to have known a little bit more about how the infrastructure for robosigned documents came into place by all of these banks, but other than that I thought it was an illuminating op-ed on a disgusting practice.
"we learned that nearly every aspect of the robosigned documents was false. None of the details were ever reviewed. The signatures attesting to the review of the ... More »
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