VIDEO: "We Can Either Have a Rational Resolution to the Foreclosure Crisis or We Can Preserve the Capital Structure of the Banks; We Can't Do Both"
Editor's Note: This is another in our series of stories from late 2010, that we are reposting in the wake of Friday's landmark foreclosure ruling from the Massachusetts Supreme Court.
Runs 30 seconds. Just found this clip 5 minutes ago. I believe it is from today's Congressional Oversight Panel hearing on foreclosure fraud by TARP banks.
This is the issue we need to remain aware of - the more banks suffer from mortgage putbacks and foreclosure fraud, the more likely it becomes that a second round of taxpayer assistance is requested next year by Geithner's replacement at Treasury. Chris Whalen has been warning for weeks -- here, here, and here -- that 2011 will bring another round of bank bailouts.