As most of you know, Goldman Sachs engaged in massive fraud when it packaged many of the mortgages that are now being foreclosed on and sold them to entities like Deutsche Bank. Homeowners are continuing victims of this fraud and their consequences and penalties continue, but the chief players in the fraud, Goldman Sachs walks away from the game with a petty fine. Read the Wall Street Journal article here. Suffice it to say, the rules really are different when you commit high level, mind-boggling crimes.
Next, consider the impact that senior judges, making $350/day are going to have on foreclosure cases. These judges will be executing millions of dollars in judgments yet I fear they lack the resources and staff to properly supervise the files they are asked to plow through. Read a recent story here. I am deeply troubled by the feeling that our judicial branch is bowing to pressures from the legislative branch and I’m concerned by my perception that many of our elected judges feel like they have a duty to plow through these foreclosure cases…rather than examine the cases from a proper Court of Equity perspective.
