Jon Stewart piled on to the widespread criticism of the Independent Foreclosure Review fiasco. He gives a decent short form description of MERS and highlights the lack of independence of the consultants. My only quibble is he also describes the settlement amount as $9 billion, which is technically accurate but misleading (the cash portion was only $3.6 billion and as Senator Merkley pointed out, the non-cash portion could be satisfied with as little as $12 million in principal reductions). But overall, this segment was effective in keeping the hot lights on the IFR mess.
- Links 4/19/14 - 04/19/2014 - Yves Smith
- Please Join Us at Our NYC Meetup Next Friday, April 25 - 04/19/2014 - Yves Smith
- Yanis Varoufakis on the “Success” of Greece’s Bond Sale - 04/19/2014 - Yves Smith
- Joe Firestone: Using Generational Warfare to Divert Attention from Oligarchy and Corporatism - 04/19/2014 - Yves Smith
- Links 4/18/14 - 04/18/2014 - Yves Smith