Daily Show discusses Residential Evil, OCC and MERS, banks and the fed

I have my $300 check - haven't tried to cash it yet - have 30 days to see if this U.S. gov't check will bounce, like others. I don't know which of my property losses this $300 is to "compensate" for bank, uh, misdeeds.

So, if you would like an explanation for the OCC looking out for us and the upstanding ethics of the banking community (and our fed), well, here ya go. http://www.thedailyshow.com/watch/tue-may-7-2013/residential-evil

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Permalink Reply by Simon Campbell on May 9, 2013 at 3:31am

Oh so you got your "compensation" too. I do not know who decided that $300 covers the losses incurred through wrongful foreclosure. That is not even enough to cover the costs of a real estate appraisal. What went wrong? Yet again banks were left to their own devices and were not given the proper oversight.

I wrote an article on this subject "Epic Fail: Foreclosure Settlement Agreement Compensation."

Permalink Reply by joe beauchamp on May 9, 2013 at 4:46am

Well, as Jon Stewart said, the $9BB was enough to make the public think that the banks were penalized but not enough to make the banks even blink. And, as it showed, the fed stated it would take weeks to figure out the real number so they pulled $9BB out of the air. I think it showed 60% of the hurt people get $300 - if the check cashes. I've seen articles since - military couple illegally foreclosed - got $600. Yep, really teaching those banks that stealing homes from people is.....cool. ??    ;-)

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