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 3/11/14 - 03/11/2014 - Yves Smith
- Trans-Pacific Partnership Reveals Deadly Cost of American Patents - 03/11/2014 - Yves Smith
- Gaius Publius: Neoliberalism, “Just Desserts,” and the Post-Climate-Crisis Economy - 03/11/2014 - Yves Smith
- 17 Million Reasons Rent Control is Efficient - 03/11/2014 - Yves Smith
- Bitcoin is Not a Currency - 03/10/2014 - Yves Smith