Gretchen Morgenson writes about Neil Barofsky’s (former federal prosecutor who had the pleasure of being selected to police TARP) new book skewering the crew of “complacent, bank-friendly Treasury officials” with whom he was expected to placate. Barofsky says, “The suspicions that the system is rigged in favor of the largest banks and their elites, so they play by their own set of rules to the disfavor of the taxpayers who funded their bailout, are true. It really happened. These suspicions are valid.”
California sues US Bank, NA as securitization trustee for numerous banks, calling US Bank, NA as Trustee for XYZ Trusts a LA’s “largest slumlord.” The Complaint shows pictures of the blight. US Bank spokesperson condescendingly explains that the City Attorneys just don’t understand how it works, and that just because US Bank is the record title holder does not mean it is responsible for the blight or the upkeep of the property it owns. Silly city attorneys….