‘So just forgive the debt to the homeowner because the banks are corrupt? Is that the solution?”
No, and neither should the banks be given a get-out-of-jail for free card.
The banks were forced to make some bad loans. They gleefully made far far more loans because of the huge profits they were generating though their risky and illegal business practices.
If you support foreclosing on a homeowner then you must also support jailing the bankers who did these things.
Absolutely. But I don’t approve of the courts imposing a solution that let’s homeowners keep their houses for free because of technical improprieties by the banks. This is truly injustice enrichment and rule of lawyers. And it has unintended consequences. It will greatly increase the number of defaults and finish off the corrupt financial system, which in itself is not a bad thing. But it will also lead to a complete implosion of the financial system with replacement system ready to be implemented. I think that a golden jubilee is the only solution and a return to sound money, which is where all the problems started from. Look at the inflation charts. Things got really bad after Nixon took us off the remainder of the gold standard.
Money is far too important to be taken away from the free market and put in the hands of the political system.