But morally and politically, they’re worlds apart. Legally, there’s absolutely no difference between a woman on welfare who falsely declares that her boyfriend no longer lives in the home and a bank that uses a robo-signer to cook up a document swearing that he has kept regular records of your credit card account. Plenty of people-consumers and merchants both-are probably glad that so much credit is available, but they don’t realize that systematic fraud is part of what makes it available. So techniques like robo-signing and sewer service are essential to the profitability of the business. “In a mass society where obtaining credit is as easy as it is, there’s probably no way to efficiently collect on delinquent accounts by writing real affidavits, filing legitimate, error-free lawsuits, and serving legitimate summonses in each and every individual case.
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