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Wall Street banks fraudulently and illegally foreclose on your house. You get $2,000. The bank gets let off the hook. We'd call that a bad deal.
A bad deal
Seeded on Fri Feb 10, 2012 11:28 AM EST
Article Source: act.credoaction.com- Enjoy this article? Help vote it up the 'Vine.
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And yet yesterday, at the urging of the White House, federal regulators along with 49 state attorneys general announced a settlement deal for mortgage servicer abuse that does essentially that. It lets banks off the hook for widespread foreclosure fraud.
Press releases have trumpeted a $26 billion deal which may sound like a lot, but it's a paltry sum when you break down the numbers.
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#1 - Fri Feb 10, 2012 11:28 AM ESTYou're in Easy Mode. If you prefer, you can use XHTML Mode instead. |
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