Meet The Foreclosure-Gate Fall Guy

This David J. Stern character is a hilarious asshole.  First of all, he runs a foreclosure mill which isn’e exactly an altruistic business in and of itself.  While his company busily (allegedly) forges documents to evict people from their homes, he lives in oversized-novelty luxury.  I’m no communist, but if your business is as unpopular as, lets say,  foreclosure mill operator, you might want to take a pass on the Bugatti and make yourself less of a stereotypical villain in the eyes of the masses.

Foreclosure-Gate is a complicated and unpopular problem being aired in an election year.  Although it seems that the bad actors in this scandal may have dodged a bullet with the timing of the story breaking.  Close to an election, but not enough lead time to become a full blown pivotal campaign issue.  If  this doesn’t all just go away quietly with the next news cycle David J. Stern is most likely squarely in the crosshairs of the Attorney General.  In the grand scheme of things, he’s small fry.  Every scandal needs a scapegoat.

Further reading:

Administration Shifts Focus on Foreclosure-Gate (CNBC)

Foreclosure Fortune Buys Bugatti, Yacht for Attorney (Bloomberg)

Source: Stern Foreclosure Factory: $260 Million in 2009 Revenues (The Big Picture)


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