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Regulatory Looting: Botched Foreclosure Reviews

It’s really hard to convey a sense of how utterly grotesque the looting that Promontory Financial Group conducted on the misnamed Independent Foreclosure Reviews. Readers may recall that these reviews were set up as part of a 2011 settlement by the Office of the Comptroller and the Currency and the Fed with 14 major servicers.

via Regulatory Looting, Promontory-Style: Botched Foreclosure Reviews Alone Generate More than Double Goldman’s Revenues per Employee « naked capitalism.

 

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