“Bank of America [ed: Wells Fargo, Chase, Citi, Ally] employees regularly lied to homeowners seeking loan modifications, denied their applications for made-up reasons, and were rewarded for sending homeowners to foreclosure, according to sworn statements by former bank employees.”
This headline and the revelations of wrongdoing that follow it came as no surprise to the hundreds of thousands of people who tried in good faith to re-negotiate their mortgage contracts with BofA.
I can’t help wondering when the the courts or the Justice Department or Congress will wise up and realize that 1) all the big banks did exactly the same thing (some coincidence, huh?) and that 2) it happened on their watch with their complicity and every one of us who went through it knows that and will never forget.
I couldn’t be happier that Bank of America is getting its dirty laundry aired, no matter how token any “punishment” is likely to be. I have to say, thought that personally, I’m looking forward to the following headline, the fact of which I know to be totally and completely true:
Wells Fargo Lied to Homeowners and Rewarded Foreclosures, Former Employees Say
or, maybe, to be more current and absolutely factual:
Wells Fargo Is Still Lying to Homeowners and Rewarding Foreclosures, Former and Current Employees Say
Because, of course, in spite of the tens of thousands of complaints filed and letters sent to attorneys general and elected officials and “regulators” and miles of published accounts by news outlets from small to global, the banksters are still hard at work pretending they can’t possibly figure out how to modify a mortgage loan.
How do I know? I still hear from people every week who are being jerked around by banks still playing the ridiculous delay-and-deny games. It’s sickening and heartbreaking. This sort of corporate arrogance and government complicity is a recipe for the downfall of not only the U.S. economy, but indeed of the nation itself.
I only hope that in my lifetime I get to see the headline I really crave:
Wells Fargo Has Screwed Its Last Customer; Corrupt Corporation Closes Its Doors Forever
What headlines would you like to read?