Now, some banks may have to join the dust bin of history, but that the way the cookie crumbles.
1. NO CREDIT BIDDING- Banks are deemed insider dealing and are not allowed to bid their judgment. The forces the house to sell for real market value.
2. ALLOW current occupants to buy the house for the real NOT INFLATED market value. If house prices in the area fell 75% then so be it.
3. Perp walks for bank execs AT THE TOP who turn a blind eye to fake appraisals.
4. Perp walks for PARTNERS in law firms which lied to judges via faked documents.
- PERP WALKS FOR POLITICIANS WHO COVERED THIS UP- Frank, Waters, Dodd...
5. All borrowers get credit discounts for every dollar paid to a bank.
6. Loan servicing agenst have full authority and submit to jurisdiction of the courts to bargain/compromise loans. Swap away but the second you use a servicing agent they have full authority.
7. No note no forclosure. PERIOD. No chain of custody, no forclosure. PERIOD.