Schneiderman Is Said to Face Pressure to Back Bank Deal - NYTimes.com - 0 views
www.nytimes.com/...ressure-to-back-bank-deal.html
Gretchen-Morgenson Banksters Obama-Bankster-Power-Play Mortgage-Fraud
shared by Gary Edwards on 24 Aug 11
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Terms of the possible settlement under consideration center on foreclosure improprieties like so-called robo-signing and submitting apparently forged documents to the courts to speed up the process of removing troubled borrowers from homes.
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An initial term sheet outlining a possible settlement emerged in March, with institutions including Bank of America, Citigroup, JPMorgan Chase and Wells Fargo being asked to pay about $20 billion that would go toward loan modifications and possibly counseling for homeowners
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In exchange, the attorneys general participating in the deal would have agreed to sign broad releases preventing them from bringing further litigation on matters relating to the improper bank practice
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You've got to be kidding me! $20 Billion and these crooks get to illegally foreclose on mortgages they can't document or prove they own? They've stolen trillions of dollars, sunk the worlds economy, and maybe ended the greatest experiment in self government / individual liberty in mankind's 4,000 year history. And the tab is only $20 Billion? The Banksters steal that much in while putting on their pants in the morning.
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By GRETCHEN MORGENSON Published: August 21, 2011 Eric T. Schneiderman, the attorney general of New York, has come under increasing pressure from the Obama administration to drop his opposition to a wide-ranging state settlement with banks over dubious foreclosure practices, according to people briefed on discussions about the deal. Eric T. Schneiderman has objected to elements of the settlement for months. In recent weeks, Shaun Donovan, the secretary of Housing and Urban Development, and high-level Justice Department officials have been waging an intensifying campaign to try to persuade the attorney general to support the settlement, said the people briefed on the talks. Mr. Schneiderman and top prosecutors in some other states have objected to the proposed settlement with major banks, saying it would restrict their ability to investigate and prosecute wrongdoing in a variety of areas, including the bundling of loans in mortgage securities. But Mr. Donovan and others in the administration have been contacting not only Mr. Schneiderman but his allies, including consumer groups and advocates for borrowers, seeking help to secure the attorney general's participation in the deal, these people said. One recipient described the calls from Mr. Donovan, but asked not to be identified for fear of retaliation.