Let’s make Fagin the Attorney General

It’s looking uglier out there. A lot of the housing financing mess is beyond my ken, but I get this part – I’ll let Atrios (aka Dr. Black, a real economist) sum it up:

“Once we came to a point where servicers could make more money by foreclosing than not foreclosing, the game was over.”

It is apparently no longer necessary to even try to hide one’s crimes. After all, money must be made.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s