If the Dems and the media took the same amount of persistance in reporting on the damage the banks have done to American homeowners and pensioners under Clinton, Bush & Obama - the public would be aghast. Over 50 millions homes have been foreclosed, short saled, or are in the courts. At 2.5 persons per household - that's 125 MILLION Americans damaged and/or destroyed. This has been the largest disaster (man-made or natural) in the modern world. Not to mention the $5 TRILLION pension deficit gradually attacking American workers...

Schools don't teach kids how to even balance a checkbook or keep a household budget. Why did gov't even dangle $$? The gov't surely didn't expect them to be responsible - or were they really just after their parents figuring they'd bail them out with their savings and social security?

Homeowners, in many cases, obtained more from modification arbitration forced by the courts on an individual basis than they did from class action lawsuits where the attorneys made the big bucks. HOWEVER, there are instances where collectively, representation of a large group of Plaintiffs makes a greater impact on juries and judges. The National Mortgage Settlement was a collective effort, albeit not very well monitored, and rendered a settlement designed to protect homeowners. Had it have been enforced and followed by the Defendants, there would be fewer foreclosures filled steeped in fraud today.

Isn't it Sad when the SCOTUS opinion can't be downloaded from their own site - for whatever reason? Even if its system is just overloaded think how well the rest of the government computer systems are working... immigration, etc.

Alan, I don't know who to kiss first you or Judge Klein. Thank you for sharing this - I'm sure the majority of homeowners I know can relate. What I found very interesting was the reference to the Fannie/Freddie/FHFA $9.5 Billion BofA fine; however, the $65.65 Billion BofA Settlement with the DOJ wasn't mentioned. The DOJ case gives us a jury trial conviction and Fannie as the concealed real party in interest in these Countrywide/BofA cases. It appears, the loans were sold directly to Fannie before the Trusts and Fannie maintains an interest as guarantor, yet another underlying issue. Although many of the documents in the DOJ case remain sealed - on the DOJ press release page are several documents linked at the bottom that indicate some of the loans and several pages of trusts. The Complaints, including the DOJ Intervenor Complaint is available through ECF - worthwhile reading. For deeper digging one must read the SEC Complaints against Fannie / Freddie and the accompanying Non-Prosecution Agreements. Amazing what information can be put together.

Let's face it bankruptcy legislation has as many holes in it as Obamacare had donuts. The overall 'sense of consequence' is sorely lacking and "fresh start" has been lost almost altogether with the trustee and its attorneys fee cranking legal greed. How many homeowners sought refuge in bankruptcy only to find themselves represented by a bankruptcy mill dumping them into a Chapter 7 without full explanation of loss of their defensive claims and usually their home? The way the system is set up only a good attorney (of which there are few - present company excepted) can figure out the forms and exactly what must be filed and many are too lazy to ask detailed questions or inform their clients. Many bankruptcy attorneys dump the job on inexperienced paralegals - yet, when there are missing documents, forms, bank accounts, etc. it falls back on the debtor who faces the charges and non-discharge-ability - rather than the attorney who actually created and filed the paperwork. There are too many bankruptcy mills - just like foreclosure mills - and no penalties stiff enough to keep the crooks and slobs out of the business.

Absolutely on target!! See Paul Krugman Propaganda Exposed and Debunked. http://wp.me/p1H9BR-1YL So, if Paul is angling for a White House job and this is the advice he is touting or told to tout - we'd be in deep trouble if it's Hillary (we know its not Bernie and it sure isn't Trump he's trying to schmooze).

The Jones Act has to go. Senator Inouye protected Matson shipping here in Hawaii for years and later at the expense of our citizens. I can't tell you how frustrating it is for Hawaii and Alaska to be considered step children to the rest of the United States when it comes to shipping. And let me tell you - many companies make that extra shipping issue a profit center. Avon, for an example - could ship Priority Mail flat rate box and be half of the cost it charges for shipping. That said, numerous companies add on exorbitant cost to ship to Hawaii and Alaska. It is also reflected in our groceries - cereal for example is $6.50 a box! Milk is often $10 a gallon. Building materials are higher priced because there is no competition in the shipping. Generally, the overall Jones Act is outdated and unnecessary in this "global" economy. Amazing that I can get products from China for a lot less and FREE SHIPPING - and in America the same items cost more and tack on a surcharge for shipping!

I am in total agreement. As a paralegal for bankruptcy and foreclosure defense attorneys I have spoken to hundreds of families that got in over their heads because they were targeted by the banks. Wells Fargo even patented its system to solicite specifically targeted homeowners. When a bank tells you your stock (property) has a great deal of equity and encourages you to pull money out of it or advises you that if you roll all of your credit card debt into your mortgage loan you can pull out another $25k in cash...when in fact the appraisal value was highly inflated...ya tend to get in too deep real fast. The folks that these banks intentionally targeted were not financial geniuses - they just unwittingly respected bankers and were duped. Bankruptcy credit counseling courses are a joke. We'd be better off to teach families how to spot scammers because most people cannot perceive something they wouldn't themselves project.