Banks Fumble Amid Flood Of Foreclosures

NPR has an audio piece and a written summary about foreclosures and robo-signers, which they term “Burger King kids.”  They do a good job at laying out some of the issues in the audio piece but the written summary implies that the reason for the robo-signers is that there were too many foreclosures to process.  This is not true because they used robo-signers long before the housing market implosion.

The audio piece also debunks the myths that Tim Geithner and the other tools of the financial industry are propagating that it’s better to have the certainty of foreclosure than to make the financial industry actually follow the law.

Have a listen to the audio piece but read the written summary with a grain of salt.