The Good, The Bad & The Ugly – Week of January 14, 2013

The Good

The Bad

  • New ruling on mortgage putbacks is potential big win for the banks as it “significantly increases the the cost of asserting breach-of-contract claims” Alison Frankel at Reuters
    January 17, 2013

The Ugly

  • It’s revealed the the Independent Foreclosure Review was basically “doomed from the beginning” in Sheila Bair’s words. “It was designated the generate fees for consultants not to help homeowners.” The OCC and FED ignore calls for review and the ugly blame game begins. Ben Hallman and Eleazar David Menendez at the Huffington Post
    January 17, 2013
  • Is there now a three tiered justice system. One for Jamie Dimon who gets no charges and no fines for violating the Bank Secrecy Act/Anti-Money Laundering Compliance. Another for HSBC, who violated the same act and got a paltry fine. And far below that Karen Gasparian, manager of G&A check cashing company, who gets 5 years. Again DOJ using the law to beat up the little guys. Marcy Wheeler at Empty Wheel
    January 15, 2013

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