Early Morning Swim: Matt Taibbi and Chris Hayes Discuss Foreclosure Crisis

Maybe someone should do something.

A top Treasury Department official said Tuesday that federal investigators looking into problems with mortgage foreclosures throughout the country have found widespread and “inexcusable” breakdowns in basic controls in the foreclosure process.

“These problems must be fixed,” Assistant Treasury Secretary Michael Barr told members of the Financial Stability Oversight Council, the newly formed panel of regulators responsible for identifying potential risks to the financial system.

I’m sure a sternly-worded letter’s in the mail.