Blog Flux Directory Subscribe in NewsGator Online Subscribe with Bloglines Blog directory
And, yes, I DO take it personally: Yves Smith: The word “predatory” is not adequate to describe Wells’ conduct
Mandy: Great blog!
Mark: Thanks to all the contributors on this blog. When I want to get information on the events that really matter, I come here.
Penny: I'm glad I found your blog (from a comment on Think Progress), it's comprehensive and very insightful.
Eric: Nice site....I enjoyed it and will be back.
nora kelly: I enjoy your site. Keep it up! I particularly like your insights on Latin America.
Alison: Loquacious as ever with a touch of elegance -- & right on target as usual!
"Everybody's worried about stopping terrorism. Well, there's a really easy way: stop participating in it."
- Noam Chomsky
Send tips and other comments to: /* ---- overrides for post page ---- */ .post { padding: 0; border: none; }

Tuesday, April 10, 2012

Yves Smith: The word “predatory” is not adequate to describe Wells’ conduct

yves smith, writing in naked capitalism, is commenting on a louisiana bankruptcy judge's ruling awarding $3.1M in punitive damages for one loan...
The word “predatory” is not adequate to describe Wells’ conduct. The bank is not simply willing to steal from consumers, via blatant, institutionalized violations of its own agreements on mortgages and later on bankruptcy plans. It has absolutely no respect for the law, whether it be contracts or court procedures. It’s a band of marauders that our society treats as legitimate because the perpetrators wear suits and can afford to hire lobbyists. And the Federal government and state attorneys general are certain to have emboldened Wells and its brethren by rewarding them rather than treating them like the criminals they are.

despite an occasional and well-deserved ruling like this one, the banksters are such to regard it as a mere slap on the wrist and will continue to rule our lives...

Labels: , , , , , ,

Submit To Propeller

And, yes, I DO take it personally home page