Daily Caller: One Nation, Under Fraud
Thanks to Mike R. for sending the Daily Caller article along.
Every once in a while, a story comes along which reminds even die-hard libertarians, conservatives, and capitalists that there are some legitimate roles for government, that protecting property rights and prosecuting fraud and violations of property rights is among those roles, and that capitalism does not mean the right to do absolutely anything in pursuit of a profit.
Joseph Tauke’s must-read article examining foreclosure fraud around the nation is just such a story: a shocking wake-up call, a look beyond just one or two worst-case anecdotes into the disgusting behavior of banks and mortgage profiteers involved in home foreclosures.
For the rest of my article on this very important topic, please see my article for Human Events today
http://www.humanevents.com/article.php?id=39487
| Print article | This entry was posted by Rossputin on 10/20/10 at 06:54:25 am . Follow any responses to this post through RSS 2.0. |
Yours truly
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10/20/10 @ 03:14:41 pm
When this whole thing started back in 2008, I told anyone that would listen that my biggest fear was the collapse of the banking sector because there was no longer an icentive to pay your mortgage on a home that was worth, in some instances, 50% of the purchase price. That is just an investment decision that millions of people continue to make. I don't blame then. Now, you add fraudulent lending and foreclosure practices, then where is the incentive for ANYONE to pay their mortgage? The rule of law has to be upheld. This could get a lot worse pretty quickly.