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Mortgage Settlement Makes “Fraud a Business Expense”

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By Barry Ritholtz - March 1st, 2012, 6:00AM

Feb. 29 (Bloomberg Law) — Barry Ritholtz, CEO for Fusion IQ and founder of The Big Picture blog, talks with Bloomberg Law’s Lee Pacchia about the recently announced settlement between 49 state attorneys general and a number of banks regarding improper foreclosure practices. Ritholtz contends that this settlement represents a choice by the Department of Justice to ignore long-settled property laws.

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Category: Legal, Video.

Comments

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

3 Responses to “Mortgage Settlement Makes “Fraud a Business Expense””

  1. Tyler K Says:
    March 1st, 2012 at 11:58 am

    Good stuff Barry!

  2. Sechel Says:
    March 1st, 2012 at 5:24 pm

    Great interview. Hopefully the people making these decisions watch and feel embarrassed.

  3. Francois Says:
    March 3rd, 2012 at 9:13 pm

    Barry addressed one of my biggest pet peeves: there is an easy to cross, very fine, line between prosecutorial discretion and judicial nonfeasance/malfeasance.

    In this country, this line is crossed with almost total impunity by the powers that be. Which means that the Rule of Law is getting trashed for the sake of political expediency.

    “Hope and Change”, right Obuster?

    While this takes place, inquiring minds who’d like to know about finance have stopped listening to the colossally stoopid US media and turned their attention to products like Capital Account ( https://www.youtube.com/capitalaccount# ) At least there, they make an effort to understand and explain what is going on instead of doling out FIRE scripted bullshit.

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