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Mortgage Servicers Are Still Making It Up

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Thursday, 01 September 2011 16:55
That's what readers of Kate Berry's articles at American Banker know, why aren't readers of the NYT, WAPO, and the WSJ learning this? Apparently the servicers are still inventing documents and forging signatures just like nothing ever happened.
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The Revolution Has Begun: Bankers Endorse Squatter Rights Uprising
written by izzatzo, September 01, 2011 8:06
Taking the lead from banks that recorded documentation of private property is no longer required by owners as an essential basis of capitalism, would-be homebuyers instead occupy empty houses with squatting rights made up on the spot posted on the mailbox as the required legal claim.

Teabaggers were particularly excited with the new first-come first-served property rights standard since it reminded them of homesteading in the Old West while providing a revenge outlet against evicted homeowners and bankers living off the government dole.

Stupid liberals.
"Just like nothing ever happened"
written by Union Member, September 01, 2011 8:56

Because nothing ever did happen. Until the handcuffs come out and real prison sentences start getting handed out, this crap is going to continue. White collar crime does pay.

You would think the NYT, the Wash Post, and especially Murdoch's WSJ might see the potential to goose their circulation with some sensational true crime stories.

Long prison sentences don't deter street crime, but they scare the hell out of the professionals. The thought of liquidating assets to pay lawyers, only to have to miss their daughter's wedding anyway, provides a great incentive for truth telling which of course leads to efficent markets.

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About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.

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