Ouch: The Daily Show takes down MERS, OCC
The Daily Show with Jon Stewart last night applied its unique brand of comical genius to a public/private sector takedown of certain elements of the national foreclosure settlement.
In true fashion, Stewart and his team didn't pull any punches. The Mortgage Electronic Registration Systems is "is like a key party, but instead of f**king your wife, they lose track of the deed to your house," Stewart said.
But he saved the real vitriol for the government application of the settlement, via the Office of the Comptroller of the Currency, calling the $9 billion settlement, "incredibly dividable enough to be meaningless."
Stewart repurposes a graph showing 60% of impacted homeowners are set to receive $300 in settlement funds, "which is good if the home you lost is on the 16th hole of a miniature golf course."