Qtec
02-10-2012, 04:18 AM
Just in.
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">National Mortgage Settlement: States, Big Banks Reach $25 Billion Deal
The U.S. government announced Thursday a $25 billion settlement with <span style='font-size: 17pt'>five of the nation's largest banks over charges of systemic and widespread mortgage<u> fraud</u>,</span> in what is being billed as the largest-ever deal on such charges. </div></div>
Yes, FRAUD.
Although I am glad that its finally official that the banks have been proved to have broken the law and defrauded people,the 25 B is peanuts.
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Though the deal does offer some money -- up to $2,000 -- for those who lost their homes during the housing bust, its primary thrust is forward-looking, offering partial loan forgiveness or "principal reduction," to struggling homeowners. More details on the agreement can be found at this government website. </div></div>
Wow. You get stiffed by the bank, lose your house, aquire a huge debt etc and you get 2 Gs compensation. Wow! That wouldn't even pay for a GS exec,s business lunch !
The only good thing about it is that the banks can still be sued.
Q
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">National Mortgage Settlement: States, Big Banks Reach $25 Billion Deal
The U.S. government announced Thursday a $25 billion settlement with <span style='font-size: 17pt'>five of the nation's largest banks over charges of systemic and widespread mortgage<u> fraud</u>,</span> in what is being billed as the largest-ever deal on such charges. </div></div>
Yes, FRAUD.
Although I am glad that its finally official that the banks have been proved to have broken the law and defrauded people,the 25 B is peanuts.
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Though the deal does offer some money -- up to $2,000 -- for those who lost their homes during the housing bust, its primary thrust is forward-looking, offering partial loan forgiveness or "principal reduction," to struggling homeowners. More details on the agreement can be found at this government website. </div></div>
Wow. You get stiffed by the bank, lose your house, aquire a huge debt etc and you get 2 Gs compensation. Wow! That wouldn't even pay for a GS exec,s business lunch !
The only good thing about it is that the banks can still be sued.
Q