Mortgage industry and banks trying to play victim in foreclosuregate

Here is an example of the banks PR campaign.  They continually try to say they are the victims in the entire process in an effort to sway public opinion and to steer clear of their insolvency  questions.  Here is more on the NY Times Story with commentary from Yves Smith at http://www.nakedcapitalsm.com/

This time, the “woman who humanizes a supposedly misunderstood industry” ploy goes downscale with tonight’s New York Times piece, “Voices of Foreclosure Speak Daily About Desperation and Misery.” The article’s central actor is Bank of America servicier call center operator Brenda Seymore, who is presented as saving a single borrower from foreclosure, at least for now. Wow! What a cause for celebration

This pure and simple lie is worked early on into an otherwise lightweight piece:
http://www.nytimes.com/2010/11/16/business/economy/16foreclose.html?ref=business

She finds herself caught between frustrated, anxious homeowners many months behind on their mortgage payments, and investors who hold mortgages and do not necessarily want to modify the loans, or reduce the amount of money homeowners owe.

Seymore is most assuredly not under any pressure from investors, either directly or indirectly. The only people pressuring her not to facilitate mods is her management

http://www.nakedcapitalism.com/2010/11/more-mortgage-securitization-industry-propaganda-via-new-york-times-sifma.html