Calabasas, California (PRWEB) June 14, 2011
Attorney Philip A. Kramer, senior companion of the Kramer & Kaslow law firm which is conducting consolidated plaintiff litigation lawsuits on behalf of hundreds of property owners, remarked on a recent expose of bank probes by the news internet site Propublica.

Propublica is truly carrying out a public service with their investigations,” stated Philip Kramer. “I represent hundreds of clients who have been wronged by the banks. We have charged fraud, and conspiracy, calumny and deception, from leading to bottom. There is a lot of malfeasance going on, and other than our civil suits, there has been little or no judicial action. One thing has to be done and I am hopeful that Propublicas investigations may possibly help commence that process.

Propublica journalist Marian Wang writes in a recent write-up, As we and many other folks have noted, no prime banking executives have been effectively prosecuted in connection with the financial crisis: not for making the poor loans that fed the mortgage machine, not for lying about the top quality of the mortgages, and not for foreclosing improperly when home owners struggled to make loan payments. But there have been several investigations. Some are still pending, other folks look to have fallen by the wayside. Heres our overview of what the banks have been accused of undertaking at every stage of the mortgage machine.

Propublica compares the undesirable foreclosure procedure to a machine and argues that the initial step is risky lending and underwriting. Philip Kramer agrees. “If you look at any of the cases we filed, for example, take a appear at: Maxam v. Bank Of America (case No: 30-2011-00450819-CU-MT-CXC), youll see that we already know a fantastic deal about the banks misbehavior. The query is, When will judicial and regulatory bodies catch on?

Propublica breaks down the bank practices foreclosure crisis into five regions:

1)