State AG Foreclosure Settlement: An Epic Failure Of Law

Barry Ritholtz, chief executive of FusionIQ, a quantitative research firm, writes:

• After many months of wrangling, a foreclosure settlement has been reached between 49 state attorneys general and a consortium of banks. It is an epic failure of law and a triumph for bank attorneys. It will accomplish little of value, as I’ll explain. First, let’s recall what the “robosigning” foreclosure scandal was all about.

For more, see Foreclosure settlement a failure of law, a triumph for bank attorneys.