Taibbi slams banks for foreclosure “scam”

In a recent appearance on MSNBC, financial writer Matt Taibbi of Rolling Stone magazine skewered U.S. banks for for selling off “fraudulent loans” in what he called “a scam that involved taking stuff that was worth nothing and selling it off to investors all over the world who didn’t know what it was.” Now, he said, banks are foreclosing at a record pace to wipe their hands clean of the crime.