Varney erases bank practices to blame “foreclosure mess” on “lawsuits”

On Fox & Friends this morning, Fox Business host Stu Varney blamed the recent “foreclosure mess” on “lawsuits”:

VARNEY: The damage, frankly, has already been done. Foreclosures have already been delayed. It's all because - this is the function of lawsuits. It was lawsuits that got us into this foreclosure mess -- that held up these foreclosures. And the law does not move quickly.

Varney apparently didn't feel it was necessary to place any of the blame for the “foreclosure mess” on the banking industry, despite numerous reported concerns with the industry's foreclosure practices. For example, Bank of America enacted a nationwide foreclosure freeze on October 8 to review its procedures "[a]mid reports of forged documents, faulty notarizations and 'robo-signers' -- who signed off on thousands of evictions every month without reading the files as required by law." And as ABC News noted, regulators are investigating “whether shoddy practices by the banks caused some people to be kicked out of their homes” and “whether any homeowners had been harmed by faulty, and possibly illegal, foreclosure procedures.”

But Varney seems more concerned with making sure the foreclosures continue than whether or not they are legal.

Maybe it's not surprising Varney couldn't muster any blame for the banking industry. After President Obama proposed financial regulatory reform, Varney accused Obama of “bash[ing]” and “beat[ing] up on banks.” Varney has also claimed that Obama “demonized” banks.