Latest Legal News: BofA 'Forecloses' on a House Bought With Cash

A daily look at legal news and the business of law:

Bank of America Took Possession of a House It Didn't Own
Foreclosures have been at record highs in the past couple of years, and some warn that a new wave of foreclosures may be coming. So, it's certain that Bank of America (BAC) has lots of properties it could legitimately seize. Nonetheless it chose to go after a Massachusetts couple's future retirement home in Florida, for which the couple had paid cash. Despite protests from the couple, which learned about the action before it occurred, the bank came in, removed the couple's belongings, changed the locks and turned off the utilities. The couple has sued for trespass and defamation, and is seeking damages and an apology from BofA.No Law Firm Layoffs Last Week
Associates and law firm staff got some love last week; they all kept their jobs. Left without any job cuts to report, Above the Law instead critiques a Wall Street Journal report detailing how unevenly unemployment is distributed across income brackets, with the top decile income bracket ($150k+) inhabited by big law lawyers faring best at essentially full employment, with an unemployment rate of 3.2%. The bottom three income deciles -- people who all earn less than $30,000--had unemployment rates greater than the national rate of 9.7%, ranging from 20.6% in the bottom decile to 12.7% in the third decile. As the report notes, the pain of the Great Recession has been felt most by those already at the bottom of the economic ladder.

Holiday Links

In honor of Presidents' Day, check out Yale Law School's Avalon Project website, a large archive of law, history and diplomacy documents including many central to America'sgoverninghistory. Among the many important documents available, you can find President Washington's State of the Union speeches, former President John Quincy Adams's Supreme Court argument in the seminal Amistad case, and presidential papers from commanders-in-chief as diverse as Thomas Jefferson and George W. Bush.

In honor of Valentine's Day, check out Legal Blog Watch's inventory of romantic-sounding Supreme Court cases. Entries include Rose v. Rose, Loving v. Virginia, and Arrow-Hart & Hegeman Electric Co. v. the FTC.
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