Sad news about the death of one of the few people in power who seemed to care at all about the big banks’ glaring fraud in creating and then profiting from the ongoing foreclosure frenzy.
Former Delaware Attorney General Beau Biden, son of Vice President Joe Biden, died yesterday from brain cancer. He, along with New York AG Eric Schneiderman, was one of very few politicians and law enforcement personnel who worked to bring some justice to the financial crisis and its aftermath.
When information about widespread paperwork fraud (robosigning) came to light, he called for a foreclosure moratorium in his state, where his office already had created a Mortgage Fraud Task Force to help homeowners. He also championed the rights of citizens in his state by filing a deceptive consumer practices lawsuit against Mortgage Electronic Registration Systems (MERS), the company that aided Wall Street in slicing and dicing the housing market for its own profit.
How many of us wish we lived in states where the attorneys general at least appeared to notice that the banksters were taking advantage and harming homeowners? Me, for one. At the beginning of the financial fiasco, Arizona had an Attorney General who was on the forefront of the fight against the big banks. Sadly, he was replaced by a man one Phoenix news outlet compared with Elmer Fudd (which is an insult to the cartoon character.
What the country’s beleaguered homeowners couldn’t have done with a Beau Biden in every state where the foreclosure feeding frenzy swallowed up families and spit them out into the streets. RIP sir.