Reply #16

In the discussion thread: National Mortgage Settlement All But Inevitable As California, New York Join Deal [View all]

Wed Feb 8, 2012, 11:47 PM

arendt (4,573 posts)

16. You are saying this is NOT the $25 B chump change settlement of ALL mortgage fraud?

You are saying that, after opposing the settlement for years, the state AGs have NOT agreed to settle trillions of dollars of fraud claims?

It would be nice to see a few executives get prosecuted; but not if 99% of the money they stole by fraud stays in corporate coffers. By your own logic, the DoJ investigation of MERS is completely separate. So, the deal is that the crooks get to keep the money, and we get to prosecute a few designated scapegoats.

I do not see anyway this settlement can be a good thing.

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41 replies	Author	Time	Post
National Mortgage Settlement All But Inevitable As California, New York Join Deal [View all]	cal04	Feb 2012	OP
who says crime doesn't pay? anybody who broke the law in all this is gonna skate home free nt	msongs	Feb 2012	#1
This is a civil penalty, not criminal	bhikkhu	Feb 2012	#20
I hope this is not another case	nineteen50	Feb 2012	#2
Well of course it is.	fasttense	Feb 2012	#36
Schneiderman and Harris caved to White House pressure. If this doesn't prove to everyone that the	Citizen Worker	Feb 2012	#3
The State AG's had a couple of years to pursue damages on their own and they failed.	banned from Kos	Feb 2012	#4
Wonder if Schneiderman put some teeth in the deal.	hay rick	Feb 2012	#5
That's fucking disappointing. nt	jannyk	Feb 2012	#6
It is but also, predictable I guess.	EFerrari	Feb 2012	#12
The people have been sold out once again	DJ13	Feb 2012	#7
Kicking and reccing only because the story is too damned important to drop nt	riderinthestorm	Feb 2012	#8
I'm going to hold on my reaction until I find out whether this is a	JDPriestly	Feb 2012	#9
The last one gave them immunity. Write a check and walk.	Ruby the Liberal	Feb 2012	#11
Civil, not criminal, and only for certain activity	bhikkhu	Feb 2012	#22
Just what we have been saying since the SOTU.	Ruby the Liberal	Feb 2012	#10
That's my guess. Another good guy bought off. n/t	arendt	Feb 2012	#17
Waiting to see final agreement, and what Delaware's Beau Biden does.	elleng	Feb 2012	#13
...ditto to what you said!	SoapBox	Feb 2012	#21
All this PP/contraception smoke to distract from this GIANT SELLOUT.	arendt	Feb 2012	#14
This May Not Be All There Is	lefairhill06	Feb 2012	#15
You are saying this is NOT the $25 B chump change settlement of ALL mortgage fraud?	arendt	Feb 2012	#16
No - this is the $25b settlement.	Ruby the Liberal	Feb 2012	#19
They are separate, but until Schneiderman was hand picked for the new commission	Ruby the Liberal	Feb 2012	#18
Not Such Small Stuff	lefairhill06	Feb 2012	#25
Translation: crooks keep money, promise to obey new rules (hahahaha)	arendt	Feb 2012	#31
So is this deal going to finally help the people who lost their homes?	jwirr	Feb 2012	#23
No, this is them paying a fine for a small fraction of the fraud and getting immunity	Dragonfli	Feb 2012	#26
I certainly hope we all wake up from this nightmare one of these days. I should have known better.	jwirr	Feb 2012	#38
no, those people are screwed	2pooped2pop	Feb 2012	#33
Yes, $2000 per foreclosure. From the NY Times:	banned from Kos	Feb 2012	#35
$2,000 for being fraudulently forced out of your home? Really a whole big $2,000?	fasttense	Feb 2012	#37
Oh, for cripes sake. $2,000 is monthly rent on a small one-bedroom.	closeupready	Feb 2012	#39
K&R	midnight	Feb 2012	#24
We Bailed out the Banks Who Doubled Down & Are Now Settling for Peanuts & no Criminal Penalty	solarman350	Feb 2012	#27
"The DOJ has yet to prosecute ANYONE criminally responsible for the "Mortgage Crisis." says it all.	arendt	Feb 2012	#32
Break out the pitchforks!	Fuddnik	Feb 2012	#28
Election year payolla	JJW	Feb 2012	#29
As usual..	sendero	Feb 2012	#30
It's about time Wall Street catches a break.	Octafish	Feb 2012	#34
People lose houses and credit rating Banks pay a pittance	lovuian	Feb 2012	#40
Nooo	kenfrequed	Feb 2012	#41

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