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In reply to the discussion: Bank Bailout 2: Obama Lets Mortgage Abusers Off the Hook Leave No One Accountable [View all]MrCoffee
(24,159 posts)Without the suits on robo-signing, what happens to the chain of title question? That's kind of a big deal.
As was stated brilliantly here: "Weve now set a price for forgeries and fabricating documents. Its $2000 per loan."
The civil lawsuits on robo-signing were the EASY suits to investigate/prosecute. You realize how incredibly difficult and insanely expensive it is to investigate and prosecute the easy ones, right? The criminal cases (if any actually go forward to trial, which I doubt, primarily because of the difficulty of prosecution) will be nightmares. Yet we sold them away for NOTHING.
If all it was was to settle one issue, why give the banks $20,000,000,000.00 in NEW MBS business to pay for the write-down/refi part? Why throw another bailout into the mix?