How One Local Official in North Carolina Is Trying to Hold Wall Street Giants Accountable for Widespread Fraud
Jeff Thigpen is trying to restore the rule of law in one North Carolina county.
When Wall Street hustlers figured out a scheme to make a fortune trading home mortgages in the 1990s, they faced some legal obstacles. In some cases – like dealing with the Depression-era law that kept commercial and investment banking from mixing – they overcame those obstacles with tens of millions of dollars of lobbying.
But having gotten their deregulation, they simply broke other laws. What the banks and a compliant media often euphemistically refer to as a series of “paperwork errors” in transferring deeds – “robo-signing” — was in fact widespread fraud – fraud that undermined bedrock property laws dating back for centuries.
This week, Thigpen joined Joshua Holland on the AlterNet Radio Hour.
You can listen to the whole show here…
Jeff’s interview starts at the 29:30 min mark.