Stylized Facts

Thousands of these bore the signature of DocX employee Linda Green. The signatures didn't look alike, however, and LPS eventually confirmed that multiple DocX employees had signed her name. Some of the assignments stood out because they listed the new owner of the mortgages as "bogus assignee" or "bad bene."

LPS spokeswoman Michelle Kersch said "bogus assignee" and "bad bene" were simply standard placeholders on document templates which the employees inadvertently had neglected to fill in with the proper names.

In his October 29 conference call with analysts, Carbiener said that when the company discovered the DocX wrongdoing in December 2009, it immediately stopped it and soon shut DocX down. But it turns out that DocX continued operating much longer than LPS originally had acknowledged. In a written response last week to questions from Reuters, LPS's Kersch confirmed that DocX actually wasn't closed until August 2010.

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See middle class.

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If any age was suited to fixing problems with 1000 page bills, it is not ours. No age is more willing to reform, no age has been worse at it. In the last 20 years we've reformed welfare, and increased poverty, reformed the FDA, and gotten more bad food and bad drugs, reformed the banking system, twice, and the accounting rules, and gotten the largest financial crisis based on outright fraud in the history of the world. We've pushed to reform the UN and NATO, and gotten two long failed wars. We've reformed the campaign finance system, and gotten Citizen's United and the virtual ending of public funding of Presidential elections. Reform is the word people use, when they don't want to change anything in result, but want to be able to leave work at 4 o'clock every day.

-- Stirling Newberry

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