Reply #6: Wow. The article you cite is basically saying...

[ljm2002]

...that fraud committed by the BANKS does not erase any obligations on the part of borrowers.

One wonders if he thinks that fraud committed by the BORROWERS would erase any of the banks' obligations? (bet I can guess which way he'd fall on that one)

In other words he is arguing that the law isn't for the little people, silly.

It's funny too -- as soon as the little people start insisting on their institutions following the letter of the law, then all of the sudden the letter of the law just isn't that important.

In fact, as we saw a few days ago, what they will try to do now is to change the law.

It never ends.