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<oembed><version>1.0</version><provider_name>naked capitalism</provider_name><provider_url>https://www.nakedcapitalism.com</provider_url><author_name>Yves Smith</author_name><author_url>https://www.nakedcapitalism.com/author/yves-smith</author_url><title>Fed Argues that Mortgage Abuses are Trade Secrets, Meaning Institutionalized Fraud | naked capitalism</title><type>rich</type><width>600</width><height>338</height><html>&lt;blockquote class="wp-embedded-content" data-secret="ls48sntGhx"&gt;&lt;a href="https://www.nakedcapitalism.com/2013/04/fed-argues-that-mortgage-abuses-are-trade-secrets-meaning-institutionalized-fraud.html"&gt;Fed Argues that Mortgage Abuses are Trade Secrets, Meaning Institutionalized Fraud&lt;/a&gt;&lt;/blockquote&gt;&lt;iframe sandbox="allow-scripts" security="restricted" src="https://www.nakedcapitalism.com/2013/04/fed-argues-that-mortgage-abuses-are-trade-secrets-meaning-institutionalized-fraud.html/embed#?secret=ls48sntGhx" width="600" height="338" title="&#x201C;Fed Argues that Mortgage Abuses are Trade Secrets, Meaning Institutionalized Fraud&#x201D; &#x2014; naked capitalism" data-secret="ls48sntGhx" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"&gt;&lt;/iframe&gt;&lt;script type="text/javascript"&gt;
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</html><description>When the media discusses how banks have ridden like a steamroller over borrowers and investors, the typical response is a combination of minimization and distancing: that the offense wasn't such a big deal and that it was a mistake. Recall the PR barrage in the wake of the robosigning scandal: its was "sloppiness," "paperwork errors".  Two major government settlements later, this position is looking awfully strained. And the Fed, in stonewalling Elizabeth Warren's and Elijah Cumming's efforts to get more information about the Independent Foreclosure Reviews, presented the bad practices as servicer policies, which means that they were deliberate, hence, fraudulent.</description><thumbnail_url>http://www.nakedcapitalism.com/wp-content/uploads/2013/04/Screen-shot-2013-04-11-at-3.26.09-AM.png</thumbnail_url></oembed>

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