Eesh. Reading this article over, and all I can think is "r>g." This guy had the money to make an investment and squeeze as much out of the stone as he could.
EDIT: And, having finished the whole thing, I think this one paragraph from the end really summarizes the whole crapshoot:
And so far, regulators have concentrated on debt collecting, as opposed to the buying and selling of debt, which is the source of many of the industry’s problems. As long as paper continues to be stolen, double-sold or otherwise exchanged without accurate supporting information — like statements or copies of the original signed contracts — consumers will be exploited and collectors like Siegel and Wilson will have to fend for themselves.
And I'd really recommend reading the article... slowly. With a bottle of antacid in hand, and maybe a leather strap to bite so you don't grind your teeth together. Yeesh. The whole thing is a saga of a rich guy and a thug figuring out how to best turn the screws on desperate people, and then getting upset when other crooks got there first, and that there's no more blood in this stone. I find it really hard to be sympathetic.