Law

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CNBC editor predicts Congress will retroactively legalize the foreclosure fraud

Congress will pass a bill to "forgive" banks' potentially criminal errors made in foreclosure proceedings, a senior CNBC editor predicts.

Mr. Carney says:

Here’s what is going to happen: Congress will pass a law called something like “The Financial Modernization and Stability Act of 2010” that will retroactively grant mortgage pools the rights in the underlying mortgages that people are worried about. All the screwed up paperwork, lost notes, unassigned security interests will be forgiven by a legislative act....

The [foreclosure] crisis is not driven by economics. It is driven by legal rights. And there’s simply zero probability that the politicians in Washington are going to let Bank of America or Citigroup or JP Morgan Chase fail because of a legal issue.

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3843 users have voted.

Sharia, Secular,...Canon???

Sharia Law? Newt Gingrich, Sarah Palin, Sharron Angle, and even Glenn Beck are all telling us to be afraid. Afraid of this sharia law that will replace the secular laws that we have in the United States. Yep, forget that silly ole Constitution.

I believe that politicians are using scare tactics. They are thoughtlessly tossing out ideas that they have done little research on. I believe that is why hate crimes against Muslims is on the rise. For anyone that may be confused or afraid of these lies I would like to explain a little.

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4429 users have voted.