Bank of America halts foreclosures in states that regulate the process

Oct 02, 2010 15:23


by Chris in Paris on 10/02/2010 02:15:00 PM



It's shocking what happens when banks are required to provide basic information to the courts instead of simply pulling demands out of thin air. Maybe most of the houses will be foreclosed though it's only fair for consumers that the banks are being forced to provide proof that they ( Read more... )

banking sector, loan defaults, mortgage defaults, regulation, subprime, 'capitalism', bank of america, global financial trainwreck of 2007-?, homelessness, 50 state slump, foreclosures, 52 week lows, real estate bubble

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badnewswade October 3 2010, 01:55:16 UTC
Bank of America halts foreclosures in states that regulate the process

But isn't that... Communism? Anyway, we know why regulation and oversight red tape is so bad. It's bad because television and newspapers say it's bad. When have television and newspapers ever tried to mislead the public? Surely there are laws governing that sort of thing!

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