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Will the State Attorneys General Turn the US into a Banktocracy?

07-12-2011 • Ritholtz.com

“The investigators have yet to gather many documents, conduct depositions or assemble tallies of aggrieved homeowners. They don’t yet have a good handle on the number of wrongful foreclosures, the amount of fraudulent documents filed in local courts or the volume of legal instruments processed by so-called “robo-signers,” the agents that lenders employed to process foreclosure filings en masse without examining the underlying paperwork.” You call that an investigation? Why on earth would the AGs settle if they have not done any serious sort of workm into the underlying crimes?

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