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Liberal Democrats say $25B settlement with banks is insufficient [View All]

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Dover Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-06-11 06:52 PM
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Liberal Democrats say $25B settlement with banks is insufficient
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Source: The Hill

Liberal Democrats are pushing back this week against news that the Obama administration is finalizing a multi-billion dollar settlement with the banks that bungled mortgage loans at the expense of homeowners.

The Department of Justice and the 50 state attorneys general are nearing a deal to apply $25 billion in foreclosure-abuse penalties to the nation's largest mortgage servicers the companies that buy the rights to manage loans from mortgage lenders according to numerous reports.

But Reps. Raul Grijalva (D-Ariz.) and Keith Ellison (D-Minn.), the co-chairs of the Congressional Progressive Caucus, say that figure is a drop in the bucket compared to the wealth homeowners lost when the housing bubble burst, creating the conditions that led to the Great Recession.

The banks, the lawmakers maintain, are getting off much too easy.


Read more: http://thehill.com/blogs/on-the-money/1091-housing/1919...
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  -Liberal Democrats say $25B settlement with banks is insufficient Dover  Nov-06-11 06:52 PM   #0 
  - That is OUTRAGEOUS news.  flor-de-jasmim   Nov-06-11 07:02 PM   #1 
  - Obama sells out the 99%  Bluesbreaker   Nov-06-11 09:05 PM   #19 
  - how about making everyone whole again? Oh wait. It might  roguevalley   Nov-06-11 09:22 PM   #22 
  - He's a republican...weasel....same difference.  SammyWinstonJack   Nov-07-11 09:22 AM   #35 
  - THEY ARE FUCKING THIEVES. WE NEED A PRIMARY.  woo me with science   Nov-07-11 12:59 AM   #29 
  - And the headline nastily implies that only "liberal Democrats" would find it objectionable.  woo me with science   Nov-07-11 02:46 AM   #33 
  - Why am I not surprised? nt  snappyturtle   Nov-06-11 07:04 PM   #2 
  - Obama will fix this, You'll see!  Confusious   Nov-06-11 07:07 PM   #3 
     - Just give him some time...  Xtraneous   Nov-06-11 08:24 PM   #14 
        - Don't think the majority of Americans can afford another fours yrs of  SammyWinstonJack   Nov-07-11 09:27 AM   #36 
  - The administration needs to back the fuck off on this.  Autumn   Nov-06-11 07:16 PM   #4 
  - What about the $75 trillion in derivative losses that BOA just dumped on the Fed?  TBF   Nov-06-11 07:18 PM   #5 
  - No settlement, no compromise, no slap on the wrist for those criminals  meow2u3   Nov-06-11 07:28 PM   #6 
  - who gets this $25 bil, the government or homeowners who were cheated? nt  msongs   Nov-06-11 07:29 PM   #7 
  - Steal a couple trillion, pay a few billion in penalties. What a racket. n/t  Scuba   Nov-06-11 07:39 PM   #8 
  - "Make no mistake: America's bankers have suffered enough."*  MannyGoldstein   Nov-06-11 07:50 PM   #9 
  - Settlement with the banks - not the ones who lost everything. Don't  jwirr   Nov-06-11 08:01 PM   #10 
  - Has anyone seen any other news stories about this?  Dover   Nov-06-11 08:10 PM   #11 
  - As far as what??  Angry Dragon   Nov-06-11 08:21 PM   #13 
  - From Reuters, 10/18.....  tpsbmam   Nov-06-11 08:25 PM   #15 
     - Thank you...n/t  Dover   Nov-06-11 08:52 PM   #18 
  - How the hell does anyone have any faith in this administration  hulka38   Nov-06-11 08:19 PM   #12 
  - JAIL IS THE ONLY ANSWER.  russspeakeasy   Nov-06-11 08:26 PM   #16 
  - I thought California had withdrawn from that suit.  pennylane100   Nov-06-11 08:44 PM   #17 
  - Several states have, including CA and NY  jeff47   Nov-06-11 09:14 PM   #20 
  - This is why regulation rarely works now.  JoeyT   Nov-06-11 09:16 PM   #21 
  - Heres an idea. Make the bankers pay the fine out of their own pockets rather than the banks.  cstanleytech   Nov-06-11 09:28 PM   #23 
  - Big Surprise  pmorlan1   Nov-06-11 10:17 PM   #24 
  - No jail. Slap on the wrists. They will be back it. n/t  davidwparker   Nov-06-11 10:49 PM   #25 
  - I'm thoroughly confused. Will someone please tell me once again why I should vote for the democrat?  Citizen Worker   Nov-06-11 10:59 PM   #26 
  - Because the republicans would be funding them, not fining them.  boppers   Nov-07-11 01:52 AM   #30 
  - Don't worry Obama will get rid of those dang hippie liberals and the banks will liver happily XD  pam4water   Nov-07-11 12:34 AM   #27 
  - Whew. Fairy tales do come true.  avaistheone1   Nov-07-11 12:42 AM   #28 
  - No need to distract Obama. The DNC 's been on it for a while, even when Dean headed it,  No Elephants   Nov-08-11 04:32 AM   #40 
  - They do not care about $20 Bill. What they want is the protection from criminal investigation  jtuck004   Nov-07-11 02:21 AM   #31 
  - +1000 A closer look at your links...  Dover   Nov-07-11 10:51 AM   #37 
     - These people are going to get away with HUGE crime if this goes through.  jtuck004   Nov-07-11 12:38 PM   #38 
  - Where will the proposed 25B then go? nt  CrackersMcGee   Nov-07-11 02:29 AM   #32 
  - This is why I no longer listen to, or care, what Obama says. Pretty words, ugly actions.  GOTV   Nov-07-11 08:57 AM   #34 
  - knr nt  slipslidingaway   Nov-07-11 07:57 PM   #39 
  - Kick!  sarcasmo   Nov-08-11 08:20 AM   #41 
 

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