The very sad and scary world of the foreclosure mills
In case you missed it, the New York Times ran an opinion piece by Joe Nocera last Friday that exposed the seemy underside of the foreclosure mill industry.
It turns out that employees at one of New York’s biggest foreclosure mills had a big Halloween party in which many people dressed up in costumes and created props that were designed to make fun of the “deadbeats” whose homes their firm has been doing its best to take away. Six amazingly tasteless photos of the shindig are posted in the article.
This morning, Mike Konczal at New Deal 2.0 has a good follow-up post on the matter. Here’s the excellent conclusion:
“Though the Halloween pictures are disgusting, they are a symptom of a larger view of the way the law should work that is even worse — one in which debtor’s protections are mocked, the rule of law is ignored, and shantytowns proudly display their creditor’s name over them. This is the way many elites view the rules when it comes to debt. Thankfully, there is more and more mass opposition to this perversion of the law.”