Agoracom Blog

Will NFL Referees Bailout US Banks From Foreclosuregate Penalty?

Posted by AGORACOM at 4:03 PM on Tuesday, October 19th, 2010

"If It's Uncatchable, I Shouldbn't Be Penalized For Interference"

The “in the event we were fraudulent” backup arguments are already starting:

Losses on the mortgages packaged into bonds come amid “persistently high unemployment and other economic trends, diminishing the likelihood that any loan defect should one exist at all, was the cause of the loan’s default,” Noski said.

The banks are hoping NFL referees will step in and say “There is no flag on the play as we have ruled the ball was uncatchable”

Ah JPM, if only you had sold the crap mortgages to Jerry Jones, this argument might have worked for you.



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