After suffering through one of the worst crises in financial history, the big banks that survived the collapse in 2008 now find themselves dealing with another crisis: the foreclosure fiasco. First, banks lost billions on bad home mortgages and now they're finding they often don't have proper paperwork showing ownership of the properties on which they're trying to foreclose.
You would think these financial institutions would know something about internal control by now, but what's transpiring causes one to question that presumption quite seriously, to say the least.
Adding insult to injury, bank officials' claims during legal proceedings that loan files ...