Abigail Field | MBS and Foreclosures Expose Our Degraded Legal Profession

MBS and Foreclosures Expose Our Degraded Legal Profession

We lawyers shrug off the ubiquitous jokes because once wronged, people want us. But in the socially crucial contexts of mortgages, foreclosures and securities, lawyers have become a new kind of joke, one that should shame us all.

Failed Securities Counsel

By now many are realizing that the bankers lied materially and often about the mortgage loans they packaged into securities and sold to suckers like pension funds and Fannie & Freddie. But stop and think about that–where were the lawyers?

Underwriters’ counsel and issuers’ counsel should never have let those deals go through. Heck, in-house counsel shouldn’t have signed off. And yet the deals were done.

Rest here…

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4closureFraud.org

Comments
One Response to “Abigail Field | MBS and Foreclosures Expose Our Degraded Legal Profession”
  1. Ron Moss says:

    Pillars of our society are qualified to dump the garbage

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