How Bad Is It?
So bad that even CNBC has noticed: Diana Olick – Foreclosure Fraud: It’s Worse Than You Think.
Via CBS: Alain Sherter Why Rampant Foreclosure Fraud Was Inevitable.
Barry Ritholtz on Why Foreclosure Fraud Is So Dangerous To Property Rights.
And, of course, politics raises its ugly head as Moe Tkacik tells of 5 Things David Axelrod Must Have Missed About The Foreclosure Thing.
Digby looks at the White House blowing another campaign issue in Foreclosure Strategy.
Barry Ritholtz with an oldie explaining that while people have a “moral obligation” to pay their underwater mortgages, the Mortgage Bankers Association dumped their DC headquarters when its value tanked.
2 comments
Jon did a very informative show (in his usual style, of course) on this whole thing. He even went out of his way to show the hypocrisy of the MBA (you know, their typical banker morality of “Do as I say, not as I do”).
TDS October 07, 2010 – Naomi Watts
It’s far worse than most people think! I’m surprised the entire World isn’t camping on the US doorstep with baseball bat’s. *shrug*
The US wasn’t the only place with a housing bubble, in some ways Spain was even worse, but other countries were much better at dealing with it. Even Iceland has been more effective at cleaning up the mess than the Goldman Sachs alumni that Obama brought in with him.