Every time I hear bankers and financial industry insiders assure us that the current mortgage mess is "no big deal" - that we should shrug off forged documents, the failure to have properly conveyed mortgages, even the inability of a party asking for foreclosure to prove it has any legal right to do so - I am reminded of those earlier assertions. Contracts are sacred when scrupulous adherence will line the pockets of financial and insurance industry insiders. When they might work to the benefit of the little guy, they're "red tape" to be ignored.
The only rule that matters is the "Golden Rule." He who has the gold . . .
ReplyDeleteWas the sanctity of contract argument really any more ridiculous than the "we can't afford to litigate" argument?
CWD
Where do you get the idea that insurance companies are litigious? You act like there's an entire industry within the field of litigation known as "insurance defense".
ReplyDelete. . . and the people making the argument act like they didn't know that the DoJ doesn't bill by the hour . . .
ReplyDeleteCWD
And they also pretend that the paper and email trail associated with the exorbitant "retention bonuses" isn't likely to establish that they were deliberately divorced from performance, and entered into on a bad-faith basis with the expectation that taxpayers would pick up the tab. (We're bankrupt - quick, sign this new compensation contract you know we can't afford.)
ReplyDelete