In the real world, Forclosuregate is being trated as a serious, if not crisis-threatening problem caused by widespread and systemic document fraud that should be punished by jail time and fines. It is a massive issue that involves trillions in real estate and could jeopardize the economy of the entire country. it is the genesis of the next financial collapse, plain and simple.
In the financial press, it's just a damn paperwork mishap that doesn't mean anything because everyone the banks are foreclosing on is guilty and deserves to be thrown out in the street for being poor, and the real victim here in Wall Street.
Which side Obama comes down on here will define not only his Presidency, but the direction of America.
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1 comment:
Only little people go to jail for fraud and forgery. Wall Streeters, Ivys, and assorted other rich people make understandable errors in their laudable efforts to become more efficient.
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