Reason no. 1 of Yves Smith's top 12 reasons to hate the mortgage settlement: "We’ve now set a...

|By:, SA News Editor

Reason no. 1 of Yves Smith's top 12 reasons to hate the mortgage settlement: "We’ve now set a price for forgeries and fabricating documents. It’s $2,000 per loan. This is a rounding error [for the big banks]… It's a great deal for the banks because no one at any of the servicers going to jail for forgery and the banks have set the upper bound of the cost of riding roughshod over 300 years of real estate law."