Mortgage Lenders Committed Massive Fraud and Now Wall St. Wants to Escape the Law

Alternet by Joshua Holland


Here they come looking for an out-clause and a way to keep their coffers full. We need to repeat a simple mantra: No more bailouts for Wall Street.

They committed widespread fraud – largely whitewashed by the corporate media – and, in the process, threw the economy into a tailspin. They've broken into and stolen people's homes, and, in the name of “efficiency,” bilked state governments out of billions of dollars in real estate transfer fees. They've even admitted to ripping off – and foreclosing on – soldiers deployed overseas, in violation of the law.

And they shredded a bedrock principle of capitalism, throwing hundreds of years of settled property law into doubt and in turn creating a massive drag on Main Street's economic “recovery.”

Read the full article here.

Alternet by Joshua Holland