Steven J. Baum PC, one of the largest foreclosure law firms and perhaps better known as creators of the stupidly offensive "Homeless Halloween" party is going out of business. The New York Times' Joe Nocera brought Baum to national attention, referring to it as a "foreclosure mill" and publishing photos (above and below) of their "Foreclosure-themed" Halloween party last year when employees dressed up as homeless foreclosed-upon homeowners.
Baum's recent e-mail to Nocera, which he noted in his Saturday column, stated "Mr. Nocera — You have destroyed everything and everyone related to Steven J. Baum PC. It took 40 years to build this firm and three weeks to tear down." That e-mail rings slightly more poignant in light of today's news. "Baum firm notified government entities, including the New York State Department of Labor, that it planned mass job cuts, it said in an e-mailed statement today. Earl Wells, a firm spokesman, confirmed that it’s closing," reports Bloomberg Businessweek, which explained the closure was due to the firm being dropped by Fannie Mae and Freddie Mac. "Disrupting the livelihoods of so many dedicated and hardworking people is extremely painful, but the loss of so much business left us no choice but to file these notices," said Steven J. Baum, who owns the firm. You're forgiven if you find it hard hard to find sympathy for people who didn't find it extremely painful to mock "disrupting the livelihoods of so many dedicated and hardworking people."
Unfortunately for everyone they spoofed, "unemployed foreclosure lawyer" is a bit harder to satirize, and they might just have to settle with today's karmic retribution.