Blog on the Run: Reloaded

Friday, January 14, 2011 8:09 pm

Third Way: The rule of law is great, except when we get caught breaking it, and then it’s not

The bogus corporate think tank Third Way, which just spawned the new White House Chief of Staff, all of a sudden has decided that maybe requiring banks to actually have the legal right to foreclose on properties they’re trying to foreclose on might be a little excessive.

Look, we’re in the mess we’re in because banks committed nontrivial amounts of fraud. They sold stuff they didn’t own, pure and simple. If I try that with a hubcap or a stereo, I go to prison. You can’t put a bank in prison, more’s the pity, but you can make them eat the cost of stuff they claim to own but actually don’t. And if that bankrupts them, well, that’s what we have a Federal Deposit Insurance Corporation for. So the CEOs and stockholders and bondholders take it in the teeth? No reason they should be any different from the rest of us.

1 Comment »

  1. […] You’ll recall that apparently she has some issues with investigating and prosecuting war crimes (and more about that later). Now, she’s apparently decided to join the criminals by becoming a co-chair of Third Way, a bogus corporate “think tank” that recently advanced the novel idea that banks ought to be able to foreclose on property to which they do not, in fact, have clear title. […]

    Pingback by Why am I not surprised? « Blog on the Run: Reloaded — Wednesday, February 16, 2011 8:33 pm @ 8:33 pm | Reply

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