So let me get this straight. Lenders take money to put huge numbers of unqualified borrowers into mortgages far beyond their ability to repay. Then, when the easily foreseen defaults come to pass, they prepare fraudulent documents and forecloses on those mortgages, taking dreams, down payments and equity with them.
And The News Tribune (editorial, 10-20) refers to those actions in terms like “skirting the rules,” “inattention to details,” and “unethical?” How about reprehensible, shameful and contemptible? What about culpable and, yes, criminal?
The corporate megaliths count on media and government’s hesitation and soft pedaling of both the scope and scale of this injustice to enable them to continue perpetrating massive fraud. The media and government, in doing so, align themselves with the corrupt and become part of the problem, whether intending to or not.