Today's new word: FRAUDCLOSURE

Fraudclosure: Will State AGs Step Up to Their Moment in History?

Submitted by Mary Bottari on February 2, 2011 - 09:21

Rumor has it that the 50-state attorney general investigation into the Fraudclosure scandal is wrapping up. It's time for a backbone check. Will the state attorneys general just ask the big banks and service providers to turn over a chunk of change from seemingly bottomless pockets? (This strategy was pursued by the Security and Exchange Commission (SEC) with little impact). Or will Iowa Attorney General Tom Miller take the lead in wrestling a real settlement out of the banks so that families hammered by unemployment and underemployment can stay in their homes?