bobbyw24
11-16-2011, 01:54 PM
A New York Times editorial of Nov. 9 sounded the alarm concerning what I would refer to as the Great Bank Heist. The robbery, however, is not of the banks, but by them, with the Obama administration, I regret to say, helping them, in effect, to rob the public.
Banks and the government are intent on reducing the liability of the banks for their fraudulent and negligent conduct that led to the Great Recession. The two articles that best describe what is going on are the Times’ editorial and a joint statement written by the attorneys general of New York and Delaware, Eric Schneiderman and Beau Biden, which appeared in Politico on Nov. 6.
The two attorneys general wrote: “We recognized early this year that, though many public officials — including state attorneys general, members of Congress and the Obama administration — have delved into aspects of the bubble and crash, we needed a more comprehensive investigation before the financial institutions at the heart of the crisis are granted broad releases from liability.”
The Times editorial describes why Eric Schneiderman, Beau Biden, and Kamala D. Harris, Attorney General of California, have refused to join the 47 other attorneys general who have agreed to the settlement.
The Times editorial stated, “The proposed settlement reportedly would prevent the states from pursuing claims against banks relating to fraud or abuse in the origination of loans during the bubble. (In some states, the statute of limitations has expired for bringing challenges for faulty originations but not on all loans in all states.)
Read more http://www.newsmax.com/Koch/Obama-Homeowners-Banks-mortgage/2011/11/15/id/418095
Banks and the government are intent on reducing the liability of the banks for their fraudulent and negligent conduct that led to the Great Recession. The two articles that best describe what is going on are the Times’ editorial and a joint statement written by the attorneys general of New York and Delaware, Eric Schneiderman and Beau Biden, which appeared in Politico on Nov. 6.
The two attorneys general wrote: “We recognized early this year that, though many public officials — including state attorneys general, members of Congress and the Obama administration — have delved into aspects of the bubble and crash, we needed a more comprehensive investigation before the financial institutions at the heart of the crisis are granted broad releases from liability.”
The Times editorial describes why Eric Schneiderman, Beau Biden, and Kamala D. Harris, Attorney General of California, have refused to join the 47 other attorneys general who have agreed to the settlement.
The Times editorial stated, “The proposed settlement reportedly would prevent the states from pursuing claims against banks relating to fraud or abuse in the origination of loans during the bubble. (In some states, the statute of limitations has expired for bringing challenges for faulty originations but not on all loans in all states.)
Read more http://www.newsmax.com/Koch/Obama-Homeowners-Banks-mortgage/2011/11/15/id/418095