The New Tax Man From Ancient RomeSubmitted by Reconstituter001 on Sat, 10/23/2010 - 11:04
Big banks and hedge funds in the U.S. have been quietly collecting taxes on hundreds of thousands of homes.
The process, called "tax farming," is simple: A company goes to a local government and reimburses it for taxes that citizens aren't paying.
In return, the company gets to act like an old-fashioned tax thug -- the kind rabbis condemn in the Bible -- charging up to 18 percent interest and thousands of dollars in legal fees, simply because it can.
As the District of Columbia attorney general told the HuffPost Investigative Fund, there's "no oversight at all."
Like many great American traditions, the tax farming game was perfected by the ancient Romans.