Monday, July 13, 2009

In case you were wondering why banks are in trouble...

Wells Fargo Bank Sues Itself

No, really.  I couldn't make this up.  The author says,

Still trying to comprehend this legal lunacy, I called the Florida Bar, which put me in touch with Florida mortgage foreclosure lawyers. One of them, Tampa attorney Kristofer Fernandez, said he's seen several cases where a large bank has sued itself for foreclosure as the holder of both first and second mortgages.

"Four or five years ago, you would have never seen this," Fernandez said. "Now, it's very common."

My question is, at what point does a judge have the lawyers taken out to the parking lot and flogged?

The Phantom

No comments: