The New York Times recently ran an article about Brooklyn judge Arthur M. Schack who readily throws out foreclosure motions if the lenders do not have their paperwork in proper order. The depressing part of the article is this:

“To the extent that judges examine these papers, they find exactly the same errors that Judge Schack does,” said Katherine M. Porter, a visiting professor at the School of Law at the University of California, Berkeley, and a national expert in consumer credit law. “His rulings are hardly revolutionary; it’s unusual only because we so rarely hold large corporations to the rules.”

Categories: Economics