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your mortgage in a piece of paper or into an electronic record and in the process of doing that, in lots of cases, they pretty much legally gave up their right to foreclose on you and kick you out of your house. when they're turning houses into casino chips destroyed the economy and housing market so you couldn't pay your mortgage anymore. in the midst of the higher profile news, the crusading attorney general of the state of new york, eric schneiderman brought a huge lawsuit against some of the biggest names on wall street. bank of america, wells fargo, jp morgan chase over what they did to homeowners, over whether or not this is legal. and whether or not this lawsuit made it on the front page today has two huge implications for the country. number one, accountability. accountability for the man-made disaster that was the financial catastrophe at the end of the bush presidency. accountability. that's one. eric schneiderman explained that part of it when he was here on the show recently. >> there are a lot of folks trying to rewrite history, paint
tidal wave of foreclosures, on the floor of the house she was right. the people trying to kick you out of your house, wall street firm or bank trying to kick you out of your house might not hold your mortgage. in order to use mortgages in order to use your house as a casino chip to bet and profit and trade it they had to turn your mortgage in a piece of paper or into an electronic record and in the process of doing that, in lots of cases, they pretty much legally gave up their right to foreclose on you and kick you out of your house. when they are turning houses in casino chips destroyed the economy and housing market so you couldn't pay your mortgage anymore. in the midst of the higher profile news, the crusading attorney general of the state of new york, eric schneiderman brought a huge lawsuit against some of the biggest names on wall street. bank of america, wells fargo, jp morgan chase over what they did to homeowners, over whether or not this is legal.