Oh look what Karl Found!
The heavy hitters are gunning for GMAC!
And the best part is, they shoot straight and don't miss.
Uh, this is going to be interesting......
The “technical” problems and other issues seen in foreclosure courtrooms across this country are merely symptoms of much larger issues that impact our broader economy and in fact our national security and the economic survival of this country.
Yep.
We should have learned during the 2008 economic collapse that the the entire subprime mortgage industry was an unregulated, unchecked fleecing of the entire country. We did not learn, instead we bailed out the con artists and criminals and there were no consequences for this fundamental breakdown. Next, we shoveled more money at the criminals and con artists during the Modification Madness of 2009 and 2010.
Why of course. We've already discovered that "HAMP" played right into the PSAs that made foreclosing a racket - a very profitable racket.
The only hope we have is that passionate and ethical attorneys will stand up and fight against the tyranny of the big monied interests through class action lawsuits. It’s time for a popular uprising, for consumers to join together and fight for the principles of justice and the rule of law.
Well, that's not the only hope. It may be the only peaceful hope, and the one that we all pray takes place. I'm not very confident, unfortunately.
Note that this is a particularly-nasty suit, in that it invokes 42 USC 1983 - Deprivation of Rights under color of law or authority. I presume the argument here is that GMAC is effectively an arm of the federal government. That ought to be nice.
The entire complaint is well worth reading. In addition, this isn't a hack-job legal outfit - pay close attention here folks as the Mason Law Firm of DC is involved.... and they're quite-well known for nailing people to the cross when systematic screwing has been practiced by an industry.
Link to the PDF of the complaint
