The link below will take you to an article from salon.com. It is a very thorough examination of the benefits and effects of all the sanctions, damage awards, and fines that banks are paying. The upshot is that most of the bank payments for illegally taking money and property are going to government instead of the victims.
And the obvious fact is that the penalties are not nearly enough to stop the mortgage madness. It is something that could be used in the narrative in closing argument to a jury for slander of title, slander of credit, wrongful foreclosure. Lawyers should look to ways that will enlarge the awards not only because they will make more money for their client and themselves, but because our society will continue to drag until the awards present a credible threat to the survival of the financial institutions who continue to take money and property that does not now nor did it ever belong to them.
Big bank fines aren’t working
Filed under: foreclosure