Oral arugments from CountryWide Vs Kemp tell incredible story

We are now just seeing the extent of the cover up the banks have participating in regarding their failure to abide by the pooling service agreements. This transcript is from January 7, 2010.  It is clear that the banks were well aware of the issues going on during the past few years and had little regard for the damage they were inflicting on the economy.  It is amazing that people are still coming on national television and saying that the issues is putting people into homes they could not afford. 

These are the professionals running financial institutions on Wall Street.  They seem destined to never take any responsibility for the creation of a MBS system that would take down the country. 

There are a few great parts to the transcript and the Lawyer representing the banks is asked a few questions that he can not answer.  The judge would not let him dance around the issues or put forth the argument that his client had the right to the property because that was the intention of all parties at the time of closing.  It appears that the banks went ahead and created their shell company of Mers with the belief they they could circumvent the law.  The judge in this case put everyone on notice that it wasn't that simple. 
Essentials of Business Ethics: Creating an Organization of High Integrity and Superior Performance (Essentials Series)
Hard to believe we heard little of this story the first 6-8 months of the year as banks foreclosed on thousands and thousands of homes.  The implications may be reach far greater than any one imagined.  

Transcript of Oral Arguments for Countrywide v Kemp