No Shame in US Bank CEO Helping His Janitor

This story was originally published by Technorati on 5 March 2010. Arthur Delaney, the writer of the story in The Huffington Post to which this article is a response, asked me to include this statement:

"My story is clear that US Bank bought the already-foreclosed property in a sheriff's sale, and that US Bank is the trustee while Chase is the servicer."

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The Huffington Post recently reported on the fate of Minneapolis janitor Rosalina Gomez, who as providence would have it, found out that she was cleaning the executive offices of Richard Davis, the CEO of US Bank, the bank that bought her house, which had been foreclosed upon and was sold in a sheriff's sale in September.

Calling Davis the culprit in this story, Huffington's Arthur Delaney's gotten it all wrong.

U.S. Bank didn't send Ms. Gomez's home into foreclosure; U.S. Bank bought her home in foreclosure. That's a big difference. Chase is the bank that held the mortgage and allegedly didn't make it clear enough to Ms. Gomez and her husband that the loan they were getting had a variable interest rate, that would allow their monthly mortgage payment to climb after a period of time.