“The bank arguments are stale by now. The “free house” myth is just that — a fictional account of what never was true. Out of the thousands of homeowners who have won cases against the banks, none of them received or wanted a free house. Practically all of them wanted a modification — i.e., a correction to economic reality that would preserve value on both sides of the equation (source of funds at risk and homeowner).”
“It’s simple: it has never been the law that a borrower could not learn the identity of the creditor. The fact that the banks cannot identify such a creditor without going to jail should never have been a burden placed upon homeowners and consumers.”
The closer one gets to the target the more flack is fired at you. Lately there have been posts on my blog obviously written by lawyers or trolls for the banks. Their intent is to undermine all the arguments against the current judicial and regulatory policy of allowing the banks to run wild and then to read them for their obvious misbehavior. My answer is that in nation of laws, such policies take us away from democratic principles and away from due process, accountability and punishment for those who break our laws and those who manipulate the economic marketplace to their own exclusive advantage.
The bank arguments are stale by now. The “free house” myth is just that — a fictional account of what never was true. Out of the thousands of homeowners who have won cases against the banks, none of them received or wanted a free house. Practically…
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