As foreclosures skyrocketed across the country in the wake of the financial crisis, banks routinely filed flawed and fraudulent legal documents in a rush to keep up with the wave of defaults. But officials at the Office of the Comptroller of the Currency largely missed the fact that the mortgage servicers were cutting legal corners on such a large scale, according to Friday’s report.
” During this time OCC did not consider foreclosure documentation and processing to be an area of significant risk and, as a result, did not focus examination resources on this function,” the report stated. Rather, it said, the OCC relied too heavily on the banks’ internal auditing and quality-control reports. ” We believe this reliance was misplaced,” the report stated.
Even after all these years, even after all these thousands of cases and thousands of hearings where I have been beaten to a pulp in court, suffered threats, suffered sanctions, threats and actual complaints from the Bar and even lawsuits against me personally and my practice, it still makes me as furious as it did the first several years that the Masters of Legal and Financial Universe have suffered ZERO PENALTIES. They have in fact made hundreds of millions or, as detailed in the 49 State Attorney General Sellout Agreement, they made BILLIONS….facts more particularly described here.
The law firms and the lawyers, the real architects behind the conspiracies, moonwalk away from the crime scenes. Not just moonwalk, they point their private jets and lavish yachts into the sunset, tip the champagne glasses and head off into the sunset.
Toodle-loo to the devastated financial system. Ov-wyah to the court and real property records system that they have left in absolute chaos and destruction. They extracted hundreds of millions of dollars….federal taxpayer dollars, middle class American dollars, general operating fund state and municipal dollars….billions of dollars….then they scoot away.
Those that don’t scoot away, continue making more from the system. Taking down still more hundreds of millions and billions from all of us….a crime spree that continues to be rewarded…with our taxpayer dollars.
And I’m certainly not alone. In fact, virtually every consumer advocate….and certainly every powerful attorney advocate working for consumers have been threatened, bullied, sanctioned and punished for daring to stand up against all this lawlessness, tyranny, fraud and madness. The State of Florida attacking the advocates, the instrumentalites of government attacking their own attorneys, public public servants, and most despicably, the whistle blowers who stuck their neck out and in good faith reported wrongdoing to “their” government. The Florida Office of Inspector General attacked them viciously, the United States Office of Inspector General gave a token of gratitude for their efforts, in the form of an $18 million gratuity.
What does this say about the state of this nation and our legal system?
The defenders are punished, the criminals, the wrongdoers are lavishly rewarded.