Pardon My Politics

The fact that mil­lions of Amer­i­cans were hav­ing their homes fore­closed on by a shad­owy in­dus­try agen­cy us­ing robo sig­na­ture ma­chines with­out re­view­ing the de­tails of the al­leged de­fault has be­come the scan­dal du­ jour.

Most of the debate about the government “doing something” to help homeowners in foreclosure has focused on what it should do. What kind of program should be passed, what the role of the FHA should be, how the Fed can manipulate interest rates lower, and so on. But none of these arguments gets to the [...]