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As federal prosecutors sit on their hands, it's left to judges and state AGs to pursue claims of...

As federal prosecutors sit on their hands, it's left to judges and state AGs to pursue claims of mass foreclosure fraud.  A law firm responsible for 40% of foreclosure filings in NY State was found by a judge to have submitted paperwork so "incredible, outrageous, ludicrous, and disingenuous ... (as to be fit for) The Twilight Zone." The U.S. Attorney's office settled the case for a fine and promises of improvement of foreclosure practices.
Comments (14)
  • Wyatt Junker
    , contributor
    Comments (4503) | Send Message
     
    The lawyers will run this thru their asbestos/tobacco meme generators for counties with the lowest IQs looking to sniff out their best chance of finding jackpot tort lottos.
    29 Dec 2011, 06:09 PM Reply Like
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
     
    Neither the Judge or the AG understands what is going on and that my friends is why we had the problem in the first place.
    29 Dec 2011, 06:25 PM Reply Like
  • D_Virginia
    , contributor
    Comments (2280) | Send Message
     
    This is one of those situations where everyone is at fault and no one is doing it right.

     

    The banks are indeed committing various acts of fraud. To question this is ludicrous, as the evidence is overwhelming.

     

    However, if they're foreclosing on you, even if they're doing it improperly per state/county laws, it's almost certainly because you're not paying your mortgage, and you do indeed deserve to lose your house.
    (Even this is not always true, as banks have attempted to foreclose on homes without mortgages, so clearly there are more kinks that need to be worked out.)

     

    My vote: fine the banks into oblivion AND foreclose on the defaulters.

     

    Everyone needs to learn to get what's coming to them. Especially the banks, but we can't let defaulters off the hook either.
    29 Dec 2011, 06:38 PM Reply Like
  • coddy0
    , contributor
    Comments (1182) | Send Message
     
    D_Virginia
    My vote: fine the banks into oblivion ...
    Banks were already oblivioned by Bank's Managers
    Why to punish victims
    29 Dec 2011, 10:48 PM Reply Like
  • D_Virginia
    , contributor
    Comments (2280) | Send Message
     
    > Banks were already oblivioned by Bank's Managers

     

    But the managers never had any consequences befall them. You're right, we should fine the /executives/ into oblivion. Good idea! :)

     

    > Why to punish victims

     

    Exactly, why punish homeowners even more. They've been victimized by a manipulated market and a government controlled by the financial industry.

     

    But, they /did/ stop paying their loans, so some kind of consequence is certainly warranted.

     

    But it's OK, as long as the banks get it worse, since they orchestrated this whole mess in the first place.
    29 Dec 2011, 11:10 PM Reply Like
  • coddy0
    , contributor
    Comments (1182) | Send Message
     
    D_Virginia
    But it's OK, as long as the banks get it worse, since they orchestrated this whole mess in the first place.
    ----------------------...
    You are talking 2-D

     

    In reality we are in 3-D, which means there are
    Banks
    Bad managers of Banks
    Bank clients

     

    Bank did not orchestrate anything.
    They are buildings filled with people like you and me, who working their jobs while fulfilling our legitimate needs, when properly managed

     

    We need Banks and Banks need us as their clients.

     

    Either we start talking about specific people, who mishandled Banks and Banks' clients, or we will become OW crowd, pissing on the Banks' porches and our own shoes
    29 Dec 2011, 11:39 PM Reply Like
  • D_Virginia
    , contributor
    Comments (2280) | Send Message
     
    > They are buildings filled with people

     

    Excellent point.

     

    And it is high time those people (and I use that term loosely when describing this kind of scum) stop being allowed to hide behind their corporate curtains.

     

    People run these corporations, people make these decisions to commit mass fraud, and people should pay the price in the form of *personal* fines and/or *personal* jail time.

     

    Some specific people include, per the companies mentioned in this article:

     

    Richard Kovacevich and John Stumpf (former and current CEOs of Wells Fargo)

     

    Ken Lewis and Brian Moynihan (former and current CEOs of Bank of America)

     

    Charles Prince and Vikram Pandit (former and current CEOs of Citigroup.

     

    Al do Molina, Michael Carpenter, and Tom Marano (former and current leaders of Ally Financial, formerly GMAC)

     

    Jamie Dimon (CEO of JP Morgan Chase)

     

    Leaders must be held responsible for their corporations' actions on some level. It is not reasonable to think that thousands (tens of thousands? more?) of employees all coincidentally had the same idea to commit the same kinds of frauds.

     

    The lie that this degree of fraud is the fault of a few rogue employees has been told a few times too many.
    30 Dec 2011, 05:25 AM Reply Like
  • Wyatt Junker
    , contributor
    Comments (4503) | Send Message
     
    Your credibility here is lacking. You failed to mention any of the heads of the GSEs or the Senators who blocked any and all attempts at reforming these monsters under GOP publicly documented protestations otherwise, which in 2005 and 2006 were 100% the democrat party in its entirety.

     

    And to boot, this is what directly led to the banks blowing up their balance sheets with ninja junk and brainwashing an entire generation that home ownership is such thing as a 'free lunch'.
    30 Dec 2011, 11:03 AM Reply Like
  • coddy0
    , contributor
    Comments (1182) | Send Message
     
    Virginia, Wyatt

     

    I have Point.
    Virginia has Names
    Wyatt has other Point.
    2011 was fruitful year for all of us.

     

    Happy 2012 New Year for All good people

     

    30 Dec 2011, 01:07 PM Reply Like
  • D_Virginia
    , contributor
    Comments (2280) | Send Message
     
    > You failed to mention any of the heads of the GSEs or the Senators

     

    Like I said: "per the companies mentioned in this article"

     

    Troll elsewhere.
    30 Dec 2011, 02:42 PM Reply Like
  • who me
    , contributor
    Comments (23) | Send Message
     
    This is the reason I sold all of my hard assets and bought a big
    houseboat.Life has never been sweeter! No more RE taxes No more
    mortgage payments.
    29 Dec 2011, 06:42 PM Reply Like
  • GOLLIATH
    , contributor
    Comments (47) | Send Message
     
    I would love to see the reaction of the rednecks when Obama wins in a landslide next election.

     

    All polls show double digit% gain....republicans are f...
    29 Dec 2011, 06:58 PM Reply Like
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
     
    Not true. You should check the polls more often.
    29 Dec 2011, 09:20 PM Reply Like
  • who me
    , contributor
    Comments (23) | Send Message
     
    Wyatt,I bought the slip and only pay electric and water hook up.
    Costs roughly $ 3600 per year.
    29 Dec 2011, 09:25 PM Reply Like
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