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Old 10-25-2011, 07:32 PM
 
27,624 posts, read 21,067,689 times
Reputation: 11095

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Mr. Schneiderman is not alone in questioning the settlement arrangement, which its critics say would wrest up to $20 billion from Bank of America, Wells Fargo, Citigroup, JPMorgan Chase and others for broad immunity from prosecution. The attorneys general in Delaware, Nevada and Minnesota have also expressed qualms that the deal is weak and inappropriately favorable to the banks. On Sept. 22, Jack Conway, the Kentucky attorney general, joined the dissenters, sending out his own announcement in praise of Mr. Schneiderman’s position.
http://www.nytimes.com/2011/10/02/ny...pagewanted=all


Good going
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Old 10-25-2011, 08:00 PM
 
13,900 posts, read 9,743,620 times
Reputation: 6856
I think the settlement should be bigger. I think that the whole issue is so complex and the tentacles are all over the place that some type of big settlement should happen. I don't think 20 billion is enough. It should be closer to 50 billion.
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Old 10-25-2011, 08:23 PM
 
Location: Great State of Texas
86,052 posts, read 84,281,002 times
Reputation: 27718
Good. I have read articles on him. The Fed is not happy and neither are the banks.
That settlement the Fed wants to do is peanuts compared to what the banks really owe.

This is the banks putting pressure on the Fed.
We'll see how long the NY General Attorney can hang on. Remember what happened to Spitzer when he dug in his heels about going after them ?
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Old 10-25-2011, 08:23 PM
 
27,624 posts, read 21,067,689 times
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Quote:
Originally Posted by Winter_Sucks View Post
I think the settlement should be bigger. I think that the whole issue is so complex and the tentacles are all over the place that some type of big settlement should happen. I don't think 20 billion is enough. It should be closer to 50 billion.

I'm more impressed with his acknowledging that not one SOB was ever investigated or prosecuted...

Quote:
Schneiderman wants the banks held accountable. But he has made himself a fly in the ointment for the big deal to settle the whole thing quickly, quietly, and without prosecutions:

Attorneys general from all 50 states last year announced their investigation into bank foreclosure practices after reports that faulty documents were being used to seize homes. Since then, a group of attorneys general and officials from federal agencies, including the Justice Department, have been negotiating a settlement with the five largest mortgage servicers in the U.S.
Whitewash :: Scrutiny Hooligans
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Old 10-25-2011, 08:27 PM
 
1,568 posts, read 1,547,928 times
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Government demanded banks make loans to people who could not pay them back.

Government demanded banks take bailout money.

Banks did what government told them to.
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Old 10-25-2011, 08:28 PM
 
13,900 posts, read 9,743,620 times
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Quote:
Originally Posted by sickofnyc View Post
I'm more impressed with his acknowledging that not one SOB was ever investigated or prosecuted...


Whitewash :: Scrutiny Hooligans
There's that, but I just see the whole thing as being hard to prove in court. I think the nation would be better served if we just had a bigger settlement and oversight and regulations to prevent another fiasco like this again.
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Old 10-25-2011, 08:30 PM
 
1,568 posts, read 1,547,928 times
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Quote:
Originally Posted by Winter_Sucks View Post
There's that, but I just see the whole thing as being hard to prove in court. I think the nation would be better served if we just had a bigger settlement and oversight and regulations to prevent another fiasco like this again.
I thought Chris Dodd and Barney Frank took care of that?
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Old 10-25-2011, 10:17 PM
 
69,368 posts, read 63,955,691 times
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Quote:
Originally Posted by Matt Kim View Post
Government demanded banks make loans to people who could not pay them back.

Government demanded banks take bailout money.

Banks did what government told them to.
Not only did the banks do what government told them to do, but government GUARANTEED those actions. Now they want to sue the banks? Ridiculous left wingers, always holding someone else to blame!!
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Old 10-25-2011, 10:23 PM
 
69,368 posts, read 63,955,691 times
Reputation: 9383
Quote:
Originally Posted by Winter_Sucks View Post
There's that, but I just see the whole thing as being hard to prove in court. I think the nation would be better served if we just had a bigger settlement and oversight and regulations to prevent another fiasco like this again.
Democrats said there wasnt a problem and we needed even less regulations while the GOP was shouting about pending oncoming problems.

Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis - YouTube
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