imagine if this happens every where

[morganist]

Quote from bugscoe:

Exactly. And in addition, you're going to start seeing a lot of copy cats thinking they can now get their house for free by defaulting.

just imagine the affect on the investment market if that happened. loss of faith of investment will stop capital for business and pensioners will lose income.

very bad.

i hope this hasn't set case law others can follow.

does any one know the legal aspect of this.

 

[ElCubano]

Quote from jd7419:

Can't see how this won't be reversed on appeal. The judge wiped away over $250,000 of principal to send a message to the bank. Is sending a message part of the judges duty?

just like Hank Paulson and Co. kinda wiped GS's loss with our money...crazy huh? I'm not an attorney but this will be overturned IMO

 

[Blue_Bull]

Quote from spinn:

Yes...dont criminals occassionally get harsh sentences as a detterrent.

That lawyer should of been sent to jail for 6 weeks, Christmas and Thanksgiving.

Yeah but criminal courts are different from civil courts.

Wiping away the principal will not stand on appeal, I'm sorry to say. It strikes me wrong on a number of legal basis's...