That's a real simple and totally indefensible soundbite . Lets start off with the article lead in :
Robo-signers: Mortgage experience not necessary
Banks hired hair stylists, teens to process foreclosure documents, workers' testimony shows
Lets add this to the the recent bill that the President Vetoed. It was Voice vote in a congress that couldn't agree on the color of the sky. There is no record of who voted. We do know who had large majorities.
This is the equivalent of a political nuke. If people want Dems to stay in office they better get the record of who voted for that bill and who didn't because that bill was meant to short circuit this latest scandal and represented a huge bail out of the bankers at taxpayer expense.
The headline on this diary is simple little
multi-second soundbite that is a loaded gun. Who will use it first?
NEW YORK (AP) -- In an effort to rush through thousands of home foreclosures since 2007, financial institutions and their mortgage servicing departments hired hair stylists, Walmart floor workers and people who had worked on assembly lines and installed them in "foreclosure expert" jobs with no formal training, a Florida lawyer says.
Oh Boy. I've heard of job creation...
In depositions released Tuesday, many of those workers testified that they barely knew what a mortgage was. Some couldn't define the word "affidavit." Others didn't know what a complaint was, or even what was meant by personal property. Most troubling, several said they knew they were lying when they signed the foreclosure affidavits and that they agreed with the defense lawyers' accusations about document fraud.
The TBTFs AGAIN. This time no one will let anyone off the hook for this.
The deposed employees worked for the mortgage service divisions of banks such as Bank of America and JP Morgan Chase, as well as for mortgage servicers like Litton Loan Servicing, a division of Goldman Sachs.
How much analysis of this is necessary? Normally , I'm pretty long winded, but this transcends words.
This will be real ugly within a week.