Nothing bad will ever happen to these people

corzine

We’re the designated human sacrifices, not them:

NEW YORK — A private market regulator refused to ban former MF Global chief Jon Corzine from trading with other people’s money Thursday, rejecting a motion brought before that body’s board of directors to do so.


The National Futures Association’s decision is a blow to a vocal group within the commodities trading world who — noting that Corzine has not been held accountable by the government for alleged crimes — wanted to see him publicly upbraided by his peers in the market.


Corzine was CEO of commodities broker MF Global in October 2011, when the firm collapsed, causing about $1 billion in losses to consumers whose money should have been safely guarded in separate accounts. In spite of congressional testimony accusing Corzine of breaking the law in the firm’s final weeks, he has not been charged with any crime and is rumored to be raising cash to start a commodities-focused hedge fund.

The plan

It was always the plan to pretend we were going to help people with their mortgages without actually helping them. Progress!

A year after five of the nation’s biggest banks reached a pact with state and federal officials over claims of vast foreclosure abuses, the banks are taking credit for giving more than half a million struggling homeowners roughly $45.8 billion in relief.


But despite the banner numbers released on Thursday in a report by Joseph A. Smith, the independent overseer of the settlement, thousands of homeowners are still not getting the help they need to save their homes from foreclosure, according to interviews with housing advocates and homeowners facing foreclosure.


Just under 71,000 borrowers, or 13 percent of the total borrowers helped so far, received assistance on their primary mortgage, which has been the main source of defaults and foreclosures through the housing crisis. But more than 170,000 homeowners received assistance on their second mortgage, which typically is a home equity line of credit that borrowers can tap for cash.


Even though addressing second mortgages does offer some relief to homeowners, in a troubling number of instances the banks are not providing any help with the first mortgage, the housing advocates said. That leaves the homeowners still in jeopardy of losing their homes, while giving banks credit for restructuring loans or wiping out debt under the settlement.


“The second mortgage forgiveness is basically a loophole, which allows the banks to continue foreclosures unabated,” said Elizabeth M. Lynch, a lawyer at MFY Legal Services in New York.


Based on the monitor’s report, it is impossible to tell how many homeowners who received help on their second mortgage are still facing foreclosure on their first mortgage. Ms. Lynch and other advocates estimate that thousands of homeowners across the country are in that predicament.

Justice

Years ago, after reading an Inquirer puff piece about this woman, I wrote the reporter who did the story and pointed out that she was a Dominionist, which meant she believed lying in the service of her ultimate goal — a theocratic state — was perfectly okay. The reporter blew me off. I guess my instincts were better than his.

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