Sunday, October 17, 2010

Before the government shells out any more money to banks...

...it might want to make sure they're not engaged in fraudulent foreclosures. The Daily Caller details a nationwide horror story - although one not entirely without comic relief:
Wells Fargo wanted to foreclose on a condo unit which had multiple mortgages attached to it. Wells Fargo also owned one of those second mortgages. So Wells Fargo spent money to hire a law firm and file suit against the irresponsible lenders at Wells Fargo. Then, Wells Fargo spent money to hire a different law firm in an understandable effort to defend Wells Fargo from the vicious legal attack coming from Wells Fargo. The second law firm even prepared a legal statement for Wells Fargo which called into question the dubious claims being made by Wells Fargo. Sadly, Wells Fargo won the case, crushing the hopes of Wells Fargo.
(H/T: ricketyclick - who closes his post with "Second amendment, folks." I'll say!)

5 comments:

Steve Burri said...

Coke v. Coke Zero, Taste Infringement.

prairiecat55kc said...

I read that article last week, Paco. Even though I knew there were lots of shenanigans going on, I had no idea it was so widespread or so ingrained in the whole system.

Scary.

Our mortgage is with a credit union, which I HOPE protects us.

Anonymous said...

The first thing I thought of was the Abbott and Costello "Who's On First" routine.

Of course, it also brings to mind the Elmer Fudd looking down the barrel of the cannon. I need not say more.

Deborah Leigh

Michael Lonie said...

Reminds me of Braxton Bragg, the Confederate general. Before the Civil War he was a Captain in the US Army. Stationed at one of the small, Western posts that housed the Army in those days, as a company commander he got into a long and increasingly acrimonious exchange with the post Quartermaster over a lost piece of equipment. The two officers exchanged official letters, accusing each other of the most heinous behavior and insulting each other. The thing was, that Bragg was both the company commander and the post Quartermaster. He would go from the company office to the post HQ, signing letters to himself at each office. His commanding officer commented "Bragg, you've quarreled with every other officer on this post, and now you're quarreling with yourself."

Paco said...

Hadn't heard that story about Bragg (sounds like something he'd do, though).