I hope this makes a difference. I was blogging about this back when it was one step above UFO posts. Things certainly have changed. There is talk of fines as high as 20 billion dollars although the white knights of Congress are already calling these monetary penalties for illegal or borderline illegal, “confiscatory.”
Pleas watch.
James Pilant
My special thanks to Beyond Money.
via Beyond Money
For about seven months now, I have argued over and over again that lying to the courts with false affidavits and actions amounting to fraud were prosecutable. I have used the word, crimes, and I meant it.
Why is it that if one of my students breaks the law by stealing a few dollars that he will go to jail and these banks can commit these acts and reap huge profits without fear of prosecution?
I want these law-breakers, these greedy well placed fraudsters, to go to jail, to do the perp walk, to pay enormous fines, and to serve as a warning to every Armani clad crook haunting the board rooms of our great investments banks.
James Pilant
My thanks to “Foreclosure Fraud – Fighting Foreclosure Fraud by Sharing the Knowledge.”
via Foreclosure Fraud – Fighting Foreclosure Fraud by Sharing the Knowledge
The foreclosure crisis continues. This is a nice piece of writing highlighted by intelligent illustration. The author has my admiration.
Often, when we have been dealing with a crisis for a long time, we want it to end, to find closure. I promise you my delight in another days’ fukushima crisis is very small. I want that thing to be fixed and stop hurting people every single day. I want to write about other stuff but the nuclear industry has conspired to create a disaster that will run at least ten years. So, I continue writing about it.
I am more than a little afraid this one, the foreclosure crisis, may come to a sudden end. Let me tell you why. There is talk of a settlement of 20 billion dollars by the states attorney generals. Many of our more loathsome congressman are complaining that this is too punitive. It takes a very comfortable distance from the situation and the facts to find compassion for the financial industry. They have in many cases either directly committed crimes, assisted in illegal activity or parsed the law so closely as to send shivers up the spine of the most casual moralist.
Well, these financial industry zealots are likely to ride like some debauched cavalry to the assistance of these banks. They intend to cut the amount and it is quite likely they will gut any proposals to rein in the illegal practices of foreclosure industry. The reform they will aim at with great intensity will be the one ending the abuses of foreclosing without a proper title. Allowing the banks to foreclose with a paper trail will greatly cheapen their costs and make it extremely difficult to police the industry.
So, I want stretched out court battles to reveal to millions of Americans how cruel and unfair this process has been. I want charges filed for false affidavits, penalties assessed for failing to pay state and county fees, and I want justice for those who have suffered fraud during the housing bubble.
James Pilant
A lot of people have problems with their credit report. This is a succinct intelligent analysis of how to approach the problem.
James Pilant
via JV Law
I think this is a wonderful question.
What is this? I have heard the term, “The Great Recession.” I prefer what I have called, “The New Great Depression.” But I freely admit it doesn’t have much ring to it.
In any case, this is a good article. I recommend you read it.
James Pilant
A few stories of the banking industry and how it plays the public for every last extractable fraction of a cent!
I’ll let the stories speak for themselves of the constant danger of being a consumer in America.
James Pilant
Anger and a lot of it.
I’ve been watching it now for years. But I’ve noticed changes in the past few weeks. Generally, I would see tea partiers or the like raging against the government. Now I’m seeing regular bloggers more and more often. They are outraged. They are disgusted. They want something to change.
We’re crossing some kind of line here in America. I don’t understand what’s happening. I can’t help but believe that something is.
This article is well written and thoughtful. You should read it.
James Pilant
This is another of the human tragedies associated with the foreclosure crisis. I think the policy makers flying in their circles above us have forgotten that it is real people who need their consideration.
James Pilant
Can your bank tell you to get out of your home and then … do nothing. Yes. This couple was told to leave but the bank decided not to take possession of the property!
What happens then? Read this fascinating story from the web site, From the Ruins.
James Pilant
via From the Ruins
Here is an interactive map of the foreclosure crisis in the United States. If a picture says a thousands words …
James Pilant
Pilant's Business Ethics Blog 
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