Not that I actually understand any of this

[footfootfoot]

Nothing speaks more to the current climate than the foreclosure scandal. We have wealthy sophisticated entities that: i) created tens of millions of legally invalid mortgages; ii)sold billions in securitized instruments not as warranted; iii) escaped financial catastrophe by off-loading large quantities of those obligations on the taxpayer and otherwiss obtaining government largess; iv) cheated local governments out of billions in recordation taxes; v) resorted to fraud, subornation, perjury, thuggery and intimidation to protect and further their interests; and vi) have created a legal and political landscape where the only thing that appears to stand in their way are a handful of judges sickened by the lies and illegality and sundry civil lawsuits by affected private parties and state level governments.
We are looking at one of the largest transfers of wealth in history to the wealthy, cheered on by an Administration, indifferent to what can only be described as organized crime.

—dcflaneur Read dcflaneur's other letters
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