Bankers all across America woke up this morning, spit in your face then hopped in their shiny limousine. The attorneys general and other government officials kicked you in the ribs and for good measure they spit on you too.
That’s the net impact of the AG settlement. The thing that’s most infuriating….oh, nevermind, cannot choose just one…let’s just say that one of the bad things is the numbers are such a lie. Bondi declares 8 billion, California declares 18 billion and the banks promise more and faster foreclosures…
The banks even created a handy press release that “your” attorney general could fill in the blanks and hand out to all the press hacks that would pick the words up, copy and paste them and publish. (click here)
But at least some good papers are still doing journalism, critical thinking, logic and reason:
“This settlement will provide substantial relief to struggling Florida homeowners, and ensures that our state gets its fair share of the relief being provided nationally,” Bondi said. The deal “holds banks accountable and puts in place new protections for homeowners in the form of strict mortgage servicing standards.”
“It’s an acknowledgement that this is an unresolvable problem,” said Matthew Weider, a St. Petersburg foreclosure defense attorney. “The banks involved are too big to fail and too big to be punished.”