Republican Congressman David Trott from Michigan’s 11th Congressional District has a long and sordid history profiting from the “human misery” caused when his foreclosure business threw victims of the Bush Recession out of their homes.
He didn’t just run a foreclosure-based law firm.
He created a vertically integrated machine to ensure that he got profit every step of the way:
CHRIS HAYES: What money is there to be made the process of ?
DAVID DAYEN: There’s not a whole lot of money to be made if you’re just doing the legal work. But Trott & Trott had a unique business strategy where they bought up practically every company down the line that gets a little bit of money out of the foreclosure process. There’s a requirement in Michigan that you have to put legal notices out in the newspaper. They bought the newspaper that did that. There’s a requirement that you have to do a title search. They bought the company that does the title searches and they get money off of that. They bought…
READ THE FULL BLOG POST HERE: Foreclosure King Republican David Trott of MI-11 introduces bill to enrich his foreclosure business | Eclectablog