To My Readers (consumers, law enforcement and Realtors):
This article explains why Americans are so cynical and angry. It’s a commentary by Michael Hiltzik of the Los Angeles Times on how Bank of America wiggled out of a $1.3 judgment, not based on the law but a “technicality.”
As Hiltzik implies, the ruling by New York Appeals Court Judges Richard C. Wesley, Reena Raggi and Christopher F. Droney create a new standard of bank fraud so artful that it sets a new standard and blueprint for future cheating by banks.
Not only are banks now too big to criminally prosecute, they are too big to civilly prosecute for cheating investors and taxpayers.