Foreclosure-Gate: AG Negotiating With The Perpetrators Of Biggest Fraud In History

02-27-2011 • NakedCapitalism.com/

The backstory here is that Miller had exuberantly vowed jail time for bankers to Iowa citizens, before backtracking on his commitment. This level of deception by high officials is now routine when it comes to cracking down on lawbreaking by big banks. It’s not obvious to me why Miller backtracked. I don’t think he ever had any intention of charging any bankers with any criminal charges, that’s just not how law enforcement works these days. My guess is that he didn’t realize that his initial promise to Iowa voters would be taken seriously, and then it blew up in the press. So he decided to stop talking and do the negotiating in secret. This is not reasonable. If the NFL is being asked to open its books and NFL fans are asking that the negotiations between the players and owners take place in the open, surely the talks over foreclosure fraud can be done with some ability for the public to know what is happening. Tom Miller may not realize that keeping homeowner victims in the dark while negotiating with the perpetrators is the wrong way to approach criminal activities. But the rest of us do.