The New Yorker is a weighty intellectual magazine…and this substantive publication has published an interesting commentary on FraudclosureGate. In my opinion, the article misses several key facts that argue against the ultimate conclusion…that things will not end as badly as I am predicting, but God knows our country would be far better off if I am wrong…..
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Just wait until banks and foreclosure mills start receiving Fla. Stat. 772.11 demand letters en masse for wrongful foreclosures.
I disagree that the New Yorker is weighty and intellectual, despite the fact that it purports to be. But I do enjoy reading it, and thank you for posting that article.
Like you, I am not as optimistic about the future as the author is, and like you I hope I am wrong.
The article touched on what I find to be one of the most frustrating things about this mess, and that is the failure of the lenders to hire enough personnel to effectively and properly handle this crisis. You and I spoke about that very thing last year…with unemployment at staggering levels, people begging for jobs, and the lenders overwhelmed with delinquent loans and foreclosures, there is no legitimate excuse for the lenders not to hire and train a sufficient number of people to effectively handle these foreclosures.