New Orleans Evidence of the death march of the zombie bankers continues as they desperately try to shore up balance sheets based on non-existent assets with continued predatory cannibalization of homeowners through blatant home invasions and foreclosure seizures. Two more stories provide more evidence of both the criminal conspiracy and the banks blatant lying that has won them sweetheart settlements with the government to let them steal with impunity.
The recent deal with the banks that stopped their self-supervised investigation of their own wrongful foreclosures because they lacked documentation or had used robot signatures or other faulty paperwork for a sweetheart deal seems now – to no surprise! – to have been uncovering MORE faulty foreclosures than previously disclosed. The sweetheart deal, as you will remember, had also made the banks judgment proof on these issues in the future. Once again the government caved in and seems to have been snookered.
News breaks today that indicates that, “Wow, yes the banks evicted people by mistake!” Seven hundred (700) military veterans lost their homes this way according to a story by Jessica Silver-Greenberg and Ben Protess in the New York Times. Dan Petegorsky with the Campaign for a Fair Settlement correctly called the earlier sweetheart deal a “step backwards, which is an understatement if anything. Can the deal be unraveled and really negotiated? Unclear to me from anything I’ve seen. At the least perhaps there are other cases still out there where a real settlement might finally be reached to provide relief for those facing foreclosures and the millions of victims crippled already.
Having ranted for years about the work of Arizona Advocates & Action winning the case of Frances Gomez in Phoenix when Bank of America stole her house, were forced to admit the theft, and then still wouldn’t return the house for years or give her a fair settlement, none of this is a surprise, but an open sore wound that the government keeps allowing to fester.
How about a break here, Mr. President?
w Orleans Reports from Bloomberg News and the Los Angeles Times are raising the specter of Bank of America filing for bankruptcy for its Countrywide mortgage unit detonating the “nuclear” option to save the parent company and run from the toxic mortgage load bought in 2008. I wonder if this doesn’t finally give another explanation to Bank of America’s continued resistance to rational modification of mortgages to allow mortgage holders to stay in their homes.
