just in case you missed this
Feb. 10th, 2012 03:29 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
solarbirdTop 12 Reasons You Should Hate the Mortgage Settlement
Basically, it's everything the banks wanted it to be. The amount per forged and fraudulent loan is less than their cost of mortgage insurance, and by some analyses of direct-to-bank cost, less than the cost of an appraisal. No criminal penalties, no future supervision; it is exactly the kind of criminal-in-and-of-itself sham we've all been expecting. It is a farce.
Basically, it's everything the banks wanted it to be. The amount per forged and fraudulent loan is less than their cost of mortgage insurance, and by some analyses of direct-to-bank cost, less than the cost of an appraisal. No criminal penalties, no future supervision; it is exactly the kind of criminal-in-and-of-itself sham we've all been expecting. It is a farce.
no subject
Date: 2012-02-10 11:47 pm (UTC)To paraphrase MAD Magazine of many years ago, "A million bucks they'll fine me well. / A second's income shot to hell!"