Daily Archives: January 4, 2011

Banks Buy-Off State Attorneys General (Update)

To sweep the bank fraud under the rug and re-invigorate the foreclosure process.  Zero Hedge has it just about right.

But of course the judges won’t let them, right?  They won’t approve foreclosures grounded in deep, pervasive and rampant fraud at all levels – in their origination, in their processing, in their transfer and “securitization”, and in their enforcement?

You’ve got to be kidding.  Judges are bought off by banks, almost by definition, before they’re even elected or appointed.  At least the Attorneys General put on a show and threatened to do something, pathetic though that may have been.  Judges don’t even do that;  as we have seen, they just quietly set up special courts to ensure that the banks can have their way sooner rather than later, hoping nobody notices the partisanship.

The worst part about all this is not just that unjust suffering is going to be inflicted; it’s that it’s going to accomplish nothing, or at least nothing good.  The banks cannot be saved, no matter how many homes they foreclose on.  The system itself, as it were, cannot be saved.

But in its death throes it will cause a lot of damage to real human beings.

Continue reading

Leave a comment

Filed under financial crisis, Judicial lying/cheating