Are the Critics Right About the Attorney Generals’ Investigation? Does This Mean Florida Homeowners Will Not Get Help?
Posted By Larry Tolchinsky on July 12, 2011
As discussed in previous posts, the attorneys general for all 50 states have been working together as a group, with Iowa attorney general Tom Miller as their leader, in the investigation of the foreclosure fraud that took place throughout the country. They’ve told everyone that their work includes not only finding how who the evildoers are, but making those responsible parties pay for their wrongdoing, in the way of a big, fat settlement, if they wish to avoid prosecution for fraud.
Attorney Generals Were Investigating Banks and Foreclosure Fraud – What’s Happened?
That sounds great, until you read commentary like the recent article by Shahein Nasiripour in the Huffington Post, “As Government Nears Accord With Banks, Questions Swirl Over Scope Of Investigation,” where not only the effectiveness of this collective group is being questioned, but also questioning whether or not they are on the up-and-up in their quest to find justice for the American homeowner.
Or, in the words of Naked Capitalism, is Tom Miller a “liar” and their announced settlement a “whitewash”?
First of all, critics are pointing out that despite AG Miller’s promises, no criminal charges have been pursued or filed, and it does not look like anyone is going to jail here.
Second, they argue that neither state officials or federal investigators have done true investigations into the details of what has happened in all the Foreclosure Fraud mess – which means they don’t have the documents and testimony needed for successful prosecutions in court.
Homeowners have not been interviewed. Documents have not been gathered, much less organized. Depositions are not being taken. All these things are the things that lawyers do when they are seeking justice – it’s not happening.
One of the biggest criticisms is that these government investigators still don’t know the actual number of wrongful foreclosures in Florida, or in the South, or across the country. They have no clue on the extent of fraudulent documents that have been filed in the public records (robosigning), or the names of all the agents that the banks used to process the wrongful foreclosures.
Homeowners Cannot Hope for the Attorneys General to Bring Them Justice, They Must Seek It On Their Own
Bottom line, it looks like the investigation has never been pulled together for a goal of criminal prosecution – ever. It’s looking to many like the group, for whatever reason, is really trying to find ways to give the lenders a break. A big, no-liability break — which means no financial payback to those who have been victimized by these bad banks and their lawyers.
The Attorneys General Investigation does not appear to be the cavalry in this situation, no matter how much they each may want to appear to be John Wayne. My advice; hire a lawyer to fight for your rights.