All Too Predictable

You may notice it has been a while since I posted. There is a reason. Rather than harp, day after day, on the perfidy of Obama and Holder, I thought it best to give them an opportunity to reverse their course and actually do something about the mortgage mess. I've waited, and it is clear that nothing has changed. In fact it is worse. The predictions here have started to come true.    A major due diligence firm has been fired by, not one, but two, major mortgage origination firms. Why? For doing their job. For refusing to backdate mortgage application documents. For refusing to forge signatures on mortgage applications .  Radio ads are now preaching the benefits of variable rate mortgages. Yes, the self same mortgages that left homeowners carrying unsustainable mortgage rates.  And, from the President we hear more "make housing affordable, simple to obtain" rhetoric. And from Holder we have an announcement that criminal investigations are winding up, that those responsible will be held accountable, and that he will leave office once the announcements are made, but he won't be following up the cases.     Even The New York Times  wondered aloud what role the Statutes of Limitation might play in a criminal case's disposition. Readers here know that most civil and virtually all criminal Statutes have run. The cynicism doled out by Obama/Holder is terrifying in its boldness. The Big Lie taken to another level.  Nobody cares about mortgage fraud until the economy is destroyed by it. Then it is forgotten, and the fraud starts all over again. Keep watching. This will not be good.                                                                                                                                                                     

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