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To: Welshman007

Good read, welcome to FRee Republic.


2 posted on 05/19/2010 12:45:04 PM PDT by Islander7 (If you want to anger conservatives, lie to them. If you want to anger liberals, tell them the truth.)
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To: Islander7
While there are many components in play, let's set aside all the social, ideological, and political ingredients and look at what this country is founded on. This is a country of laws..not men. If a borrower commits a crime in the act of borrowing said borrower should be held accountable. If a lender commits a crime in the act of lending said lender should be held accountable. Americans are splintered on this issue because understanding this very nuanced and technical area of law is by design deliberately counter intuitive and laboriously difficult to understand. An argument could be made that the dreary complexity of the laws involving borrowing and lending forge the bedrock of popular opinion - which largely and lamentably defaults to everything BUT the law. The splinter is large but not yet incurable. I'll go out on this splintered limb and say that not only have homeowners in default ostensibly been had - but so have many of those not in default. Shine the light on all securitized mortgages and let the chips fall where they may. These days, who even knows the averred value of a performing vs. non-performing loan? The same laws that apply to homeowners in foreclosure apply to those who are not. The outrage is coming.... From the Right: Wall Street Probe Widens - J.P. Morgan, Citigroup, Deutsche Bank and UBS Also Face Prosecutors' Scrutiny. Government Probe into Wall Street Sales Widening. From the Left: Prosecutors Ask if 8 Banks Duped Rating Agencies. Class Warfare: Hundreds Protest Outside Bankers' Houses In DC. From Abroad: Greece Considering Legal Action Against U.S. Banks for Crisis. And lastly...from Florida: State AG investigates its own.
3 posted on 05/19/2010 1:13:07 PM PDT by Chunga85 ("Foreclosure Fraud", TARP, "Mortgage Crisis", Bailout)
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