Attorneys General in 49 States Join Foreclosure Probe

http://www.businessweek.com/news/2010-10-13/attorneys-general-in-49-states-join-foreclosure-probe.html

The AG's better dig a little deeper than just the foreclosure process and ask why all of the crimes had to be committed for the simple process as a foreclosure.
They're a missing the big picture or choosing to willingly ignore it, in which case,it would seem the possibility is there that they themselves are also aiding and abetting the banks as well as being in collusion regarding the political cover up of one of the greatest financial crimes committed against the taxpayer in the history of the United States..
With the fraudulent use of MERS the banks decided their own fate regarding the state of fairness.
America is not going to let this go.
The banks plied Fannie and Freddie with this crap that can't be traced to legally foreclose on. They just billed the taxpayer a few more billion the last quarter to take care of the financial obligations to the bondholders that come with the getting dumped with Fannie and Freddie.
The FED wants to buy more of this same crap up and stick the taxpayer with the tab, as well as devaluing your dollar even more in the process of doing it.

Top legal officers of 49 states opened a joint investigation into home foreclosures, saying they will probe practices at banks and mortgage companies.

The states, including Texas, Iowa and New Mexico will conduct a coordinated inquiry into whether banks and loan servicers used false documents and signatures to justify hundreds of thousands of foreclosures, Minnesota Attorney General Lori Swanson said today in an e-mailed statement.

“Our multistate group has begun inquiring whether or not individual mortgage servicers have improperly submitted affidavits or other documents in support of foreclosures,” the attorneys said in a statement. “The facts uncovered in our review will dictate the scope of our inquiry.”

Alabama is the only state that didn’t join the probe

“This group has the backing of nearly every state in the nation to get to the bottom of this foreclosure mess, and we plan to work together as thoroughly and expeditiously as possible,” Iowa Attorney General Tom Miller, who is leading the group, said in a statement.

“Since this issue affects people’s homes and has clear economic implications, this probe and its outcome need to be fair both to homeowners and also to lenders,” Miller said.

First Steps

The group’s initial goals include putting an immediate stop to improper mortgage practices, reviewing past and present practices by mortgage servicers, evaluating potential remedies and establishing a mechanism for more effective independent monitoring of future mortgage foreclosure practices, Miller’s office said in its statement.

JPMorgan, Bank of America Face `Hydra' of Foreclosure Probes

http://www.bloomberg.com/news/2010-10-06/jpmorgan-bank-of-america-face-hydra-of-state-foreclosure-investigations.html

Ohio has some pretty stiff penalties per incident for filing false affidavits or documents.
That's one way to bring some revenue back to your state without having to borrow it.
How fitting is it to that the banks are the reason the states have lost so much revenue.


“You’re going to see a tremendous amount of activity with all the AGs in the U.S.,” Ohio Attorney General Richard Cordray said in an interview. “We have a high degree of skepticism that the corners that were cut are truly legal.”


Title insurers will be “on the hook if foreclosures are reopened,” Henning said. “The title insurers will be going after the banks or whoever assured them there was a clear title.”


While homeowners in those states and elsewhere must usually show damages to win a lawsuit, “attorneys general can just sue over deceptive sales practices and get penalties,” said Christopher Peterson, a University of

Utah law professor who specializes in commercial and contract law.

In Ohio, penalties include fines of up to $25,000 per violation, with each false affidavit or document considered a violation, according to state law enforcement officials. In Iowa, fines rise to a maximum of $40,000 for each violation.

Foreclosure Freeze

This penalty would apply to “every instance of an affidavit that was filed improperly or every time facts were attested to that weren’t true,” Cordray said

13 attorneys general sue over health care overhaul

http://www.azcentral.com/news/articles/2010/03/23/20100323health-care-lawsuit-AGs-ON.html

It looks like the heats still on

Republican attorneys general from 13 states are suing the federal government to stop the massive health care overhaul, claiming it's unconstitutional.

The lawsuit was filed immediately after President Barack Obama signed the overhaul bill Tuesday. It names the U.S. departments of Health and Human Services, Treasury and Labor.