Foreclosure fraud chaos

Pines and Associates reports that:

Most [mortgage] loans are securitized and most investors have filed class action suits. He finds those suits and joins them on behalf of clients as a “special interest” in the suit.

This is Armageddon for the financial system. The underlying problem is that finance runs on trust, and these days they are all crooks, so the entire financial system has seized up.

Any solution to the problem that could possibly work is far more drastic than anything proposed by anyone on either side of politics. For starters, you would have to send everyone involved in the CRA scam to prison, roll affirmative action back all the way to Marie Curie, and that is only the beginning of what is needed.

One Response to “Foreclosure fraud chaos”

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