Unsealed court-settlement documents reveal banks stole $trillions' worth of houses

[Whiskeytide]

9. This OP misses the point...

... I'm afraid. And I don't mean to be snarky. The banks didn't steal all of these homes. Some, certainly, were improper foreclosures. But in most of these cases, the owner of the home did default, and they were going to lose the home one way or another. What you're describing here is simply that the banking industry didn't bother to dot their i's and cross their t's in the foreclosure process. That actually makes things more difficult for the people who later buy the foreclosed property from the bank. They have a hard time getting good title.

But what I mean by misses the point, is that the real crime here is what the banks did to get to that clusterf*ck to start with. The mass securitization and multiple re-packaging of mortgages, sold many times over to retirement funds, municipalities and money market vehicles, all with knowledge that they were destined to collapse ----- that should have resulted in very public prosecutions followed by "first class hangin's" for a lot of Armani wearing assholes. Its because of them that homeowner defaulted in the first place.