The 50 state attorneys general probing U.S. foreclosure practices will first settle with the five largest loan servicers, including Bank of America Corp. and JPMorgan Chase & Co., Iowa Attorney General Tom Miller said.
Oh, so 150,000+ bogus affidavits – each an alleged count of perjury (and perhaps forgery) will lead to a felony criminal charge, right?
The group isn’t pursuing a criminal investigation, Miller said. “Our focus is to reform the servicing process and that’s inherently civil, not criminal,” he said.
So the standard is that if you’re a bank, you can break the law.
Any law – and it’s not criminal. At worst it’s a civil matter. Maybe.
It’s not criminal to break into someone’s home when you have no right to be there (as has been documented in multiple cases) – if you’re a bank, or employed by one. And it’s not criminal to falsely swear before a court – if you’re a bank, or employed by one.
This is sorta like how it wasn’t criminal to launder drug money – if you’re a bank, or wire money to a prohibited nation (for alleged terrorist uses) – if you’re a bank, or to be involved in a massive bribery and other associated events scheme over a sewer system – if you’re a bank, or to rig bids in the municipal debt markets – again, if you’re a bank.
Well, it seems to me that if this is the standard for a bank, then the people are well within their rights to decide that the precise same standard shall apply to conduct directed at a bank.
That would be fair and just, right?
One would hope not. But hope is not a strategy, nor is it a reasonably expectation. Instead, we have the mealy-mouthed so-called “law enforcement” folks from our states who cannot in fact be bothered to….. enforce the law.
And here I thought our State AGs would actually perform their jobs and prosecute.
I guess not – after all, nobody has when it was drug money laundering, terrorist funding or ripping off state and local governments.
Why change the record now?