Thursday, February 14, 2013

The farce continues

In last year's State of the Union address, the President promised a "mortgage fraud task force".  In short, it didn't happen.

Banks reached an $8.5 billion settlement to compensate people who lost their homes due to fraud commuted by banks (so-called "robo-signing").  After allowing the banks to waste almost $2 billion of the settlement paying their own consultants to review mortgage files, the government is now allowing the banks to just go ahead and decide for themselves which (former) homeowners deserve compensation.

You can't make this stuff up!


Anonymous said...

Some Bank "Regulators" get raped in Congress for their lack of "Regulating"

Gerard said...

yeah, she's showing her teeth!