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View Diary: When you stand up to bankers, you win (146 comments)

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  •  Let's start with the robosigning, which has been (17+ / 0-)

    admitted to.  Heck, let's continue with other crimes that go against state and federal laws and have already been found.  There has been entirely too much of the "it's so widespread a practice there would be chaos if the laws were enforced" attitude in the mortgage industry.  Just start at the bottom with all those mortgages that were improperly processed and then certified falsely as having been witnessed and signed.  That would be throwing the low-level people into jail or fining them severely, but there would be leads from those people for more serious crimes at higher levels with conspiracies.

    This government refuses to even prosecute known, admitted crimes.  I know you said "prosecutable crimes" and IANAL, but when auditors are saying the law says something has to be done a certain way and it's not, but is certified as having been done that way, that's fraud and it should be able to be proven in courts of law.

    •  Prosecutions for (7+ / 0-)

      robo signing are waived in the settlement.

      I think that totally sucks, right?

      Except now they can't pretend they're prosecuting "banks" when they're going after the schmoes who set up robo-signing boiler rooms - i.e, who are paid by the bank to commit fraud.

      Kinda like arresting the dealer when the supplier remains untouched.

      In other words, instead of going after the people who actually robo-signed for $10 per hour, go after the folks who set it up.

      Meantime, though, there was a 60 minutes (?) piece where a notary admitted she robo-notarized.

      Sorry, but when I was a notary I took it fucking seriously, and robo-notarizing fraudulent signatures is a pretty major crime.

      Yes, go after robo-signing, but let's not let arrests and prosecutions of really low level players be shiny objects deflecting our eyes from the real culprits sitting in their ivory towers.

      Why is it that a 3% tax increase for the wealthy is considered "socialism" and an 8% wage cut for the middle class is "doing your part"? MartyM

      by delphine on Mon Feb 20, 2012 at 09:56:32 AM PST

      [ Parent ]

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