Tuesday, February 7, 2012

40 States Sign Settlement

Post by Mike

Forty States, including Georgia, signed the Foreclosure Settlement with the big banks. This will limit their ultimate exposure and may free up lending in the States that agreed to the terms. Notice I said MAY FREE UP LENDING. As usual, the banks are the big winners in the settlement. They now know their ultimate exposure and can not be sued for more damage.

This will be held up as a huge win for the public, but in my opinion, the numbers are too small. The banks were loaned $700-billion when they were in trouble, but only agree to a $25-billion settlement for the damage they caused in the real estate sector.

Oh well... the golden rule... "He who has the gold, makes the rules..."

Housing Wire - 40 States Sign Settlement


  1. Taxpayers were forced to bail out the Banks with TARP with $ 700
    BILLION Yet the Federal Reserve hid the HUGE BANK Bailout of their
    Banks with $ 20 TRILLION !! Yet Lame Stream Media refuses to report this
    THEFT! The FED is still taking CRAP from the Banks at PAR (100 cents
    on the dollar) and dumping the losses on the Taxpayer. The FED is giving
    the Banks zero % interest rates, yet charging the Taxpayer 6% rate
    which the FED RESERVE pays their private shareholders. END the FED!

  2. Don't let NY AG and CA AG fool you, they will sign on to the Settlement
    soon enough... They have resisted for awhile, but later today,
    will SIGN ON, and continue the screwing of homeowners and citizens.
    The Too Big To Jail Banks will WIN again, there will be no compensation
    for homeowners who were criminally foreclosed upon, Banks will be
    relieved of all FRAUD and Liability moving forward, and this will end up
    being a HUGE Bailout for the TBTF Banks! Settling again for pennies on the dollar! While homeowners have been totally screwed! Welcome to Amerika! Land of Lawlessness and Total INJUSTICE ! VOTE ALL of these Bought&paid for Criminals OUT -OF-OFFICE as soon as you can!!