Rumors are that the Obama administration is working out a settlement where it will sweep all the charges of foreclosure fraud by Wall Street under the rug with no investigation in return for $20 billion. Supposedly to be announced in the State of the Union Address.

More recent reports are that no settlement has been reached. The idea has been to get enough of the state attorneys general to go along with the settlement idea, but it doesn’t appear that they have as many as they’d like. So far, New York, Delaware, Nevada, and Massachusetts have publicly rejected the plan and are pursuing their own lawsuits. Several others are very skeptical of the plan (10 of the Democratic attorneys general, and I think at least 5 of the Republican ones). This is something that needs a full investigation, so any pressure on the people involved is a good thing.


  1. youthisastateofmind posted this