Monday, December 8, 2008

You can't make this stuff up....

Lawyers Associated with ACLU Allies Seek Damages for People Accepting Mortgages They Could Not Pay
Much the same people and organizations who insisted on the issuance of subprime mortgages to "people of color" have now made a claim that former home owners are entitled to damages because they did not / could not pay for the mortgages they insisted on. Much the same lawyers who insisted on these mortgages are now seeking these damages, unless the defendants settle out of court.
The facts for this article, but not all of the legal conclusions, come from an article in the Los Angeles Times on 30 November, 2008. It concerns a complaint filed with the Department of Housing and Urban Development's fair housing and equal opportunity unit by the National Community Reinvestment Coalition (NCRC) against two of the biggest three Wall Street ratings firms, claiming discrimination against "African American and Latino home buyers.",0,7730854.story

Go read this article, this group is going to get the money, not because the suit has any merit, but because of perception. The CEO's don't want to appear as though the little guy has been abused.

I think I'm 'gonna be sick!

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