Judges not pleased with Bank arguments about foreclosures

[sesmo]

JUDGE DENNIS BLACKMON NAILS US BANK IN GEORGIA ON HAMP, WRONGFUL FORECLOSURE

OP Note for context: The judge wrote the below opinion rejecting the bank's motion to dismiss a case challenging their refusal to do a loan modification.From the opinion

Comments

[nazonatte69]

This needs a cut.

WRT the second article...

[flyghosh]

Mr. Schneiderman and Attorney General Beau Biden of Delaware, joined by a few others, say no. Banks, they say, should disgorge more documents, testify more precisely and prove more completely that they own millions of mortgage notes. These rebel attorneys general want the banks to hand over more than $200 billion, which would enable the government to write down tens of millions of mortgages.

But in the end, their argument is elemental: Wouldn’t the nation benefit from knowing the truth about the behavior of banks and bankers?This. As much as the quick fix is tempting, and it really really is, I agree that we need to know what's going on. It's obvious that the problem here is not a one-off we-thought-this-would-work-but-it-blew-up thing, and is in fact systemic. To address systemic issues, it would probably be useful to understand how the system works to get to know what to change/avoid

[aviv_b]

Thank goodness for 'activist' judges! And kudos to Attorney Generals who actually have the interests of the taxpayers at heart. I'm disgusted with the Obama administration's policy of asking banks to, 'pretty please think about rewriting loans.'

These banks got bailed out with taxpayer money and in exchange the government should have insisted that every single borrower that qualifies get refinanced. And it should be up to the banks to prove the exception in court.

[louisadkins]

“A cynical judge might think that, if the guidelines clearly prevented Mr Phillips from getting his modification, the US Banks would have trotted out theat fact in matematic equations, pie charts, and bar graphs, all on 8 by 10 glossy photo paper, with circles and arrows and paragraphs on the back explaining each winning number.”

Alice's Restaurant Easter Egg inside a Judge's Ruling. Awesome +100.

[normaltrouble]

Comment twins.

Lovely use of a cultural reference, yes!

[normaltrouble]

You can get anything...you want...if you're a corporation hiding behind personhood...
Exceptin', of course, you enter Judge Blackmon's court.

“A cynical judge might think that, if the guidelines clearly prevented Mr Phillips from getting his modification, the US Banks would have trotted out the fact in mathematic equations, pie charts, and bar graphs, all on 8 by 10 glossy photo paper, with circles and arrows and paragraphs on the back explaining each winning number.”(FN1)

Love.