Wednesday, October 20, 2010

The latest story by the banks is that they were just over whelmed by the massive number of foreclosures so it was ok for them to break the law. It was also ok to not follow proper rules of law while steam rolling borrowers. Is there a difference in the outcome based on there intentions? I don't think so. Why then are they going to be investigated to find out their motive and reasons for their shoddy procedural work?

Learn about structured finance here

Structured Finance and Collateralized Debt Obligations: New Developments in Cash and Synthetic Securitization (Wiley Finance)

This not just a few clerical mistakes. The banks were willing to falsify documents, give misleading and fraudulent statements, forge signatures and use robo signers to sign documents without even reading them or inspecting their validity.

When is it going to stop? When are people going to stop believing this rhetoric from the banks and start holding them accountable for their fraudulent activity?

How can you give them a free pass again? The banks, with all the money from the government, the ability to access more funds at nearly zero percent interest whenever they were in need of cash, have been given a free pass since the beginning of this crisis.
I am sure a lot of people would like to be able use the excuse that they were overwhelmed by their work load or their increasing debt load but they would still be held accountable if they broke the law. The corporations are getting off easy here and the individual is the one who is suffering the most. The corporations are shafting the individual while the government endorses it.
Accounting and Finance for Non-Specialists

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