David J. Stern remains one of the key figures in the fraudclosure tragedy that continues to play out all across this country.
Not nearly enough has been written about this figure and his unique role in this country’s coming collapse, but the 277 page deposition that was just filed in the civil federal case that is pending is a fascinating read.
I gotta tell you, I find the guy pretty darn compelling in this deposition. I find most interesting the meteoric rise of this guy who admittedly never spent much time at all in the courtroom but soon found himself handling hundreds of thousands of foreclosures all across the state. Another interesting element is the rise and spectacular fall of the Chardan Holding Company, a Chinese investment group that bought into the entire operation.
Throughout this entire crisis, we all need to be asking just how our government was so incompetent and corrupt. This morning I heard whispers that the FBI might be investigating Fannie and Freddie…this will certainly be a start and it is becoming apparent that a major tide is shifting….and I’m certain this is going to produce some profound unintended consequences…..
It truly is a fascinating read, an essential element for all who want to understand where this collapse is heading.
DAVID STERN DEPOSITION