Mortgage Settlement Makes “Fraud a Business Expense”

March 1, 2012 6:00am by Barry Ritholtz

Feb. 29 (Bloomberg Law) — Barry Ritholtz, CEO for Fusion IQ and founder of The Big Picture blog, talks with Bloomberg Law’s Lee Pacchia about the recently announced settlement between 49 state attorneys general and a number of banks regarding improper foreclosure practices. Ritholtz contends that this settlement represents a choice by the Department of Justice to ignore long-settled property laws.

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