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enlightenment

(8,830 posts)

4. Does anyone know where the other $4 billion

Reply to ProSense (Original post)

Thu Feb 9, 2012, 11:58 AM

Feb 2012

is going?
$26 billion total - *about* $5 billion = $21 billion
$21 billion - $17 billion = $4 billion

For that matter, where is the $3.5 billion of the *about* $5 billion going that is for 'direct cash penalties' going? Not to homeowners who suffered from foreclosure during this fiasco, apparently.

Oh, wait: Another article on this mentions that $3 billion is going to the states to help pay legal costs related to these issues.
http://www.nytimes.com/2012/02/09/business/states-negotiate-25-billion-deal-for-homeowners.html
Odd that the states would benefit more from this than the people who were fraudulently thrown out of their homes.

Anyway - I digress. Getting back to the $4 billion that comes out of that rather simple math; anyone have any hints where that may end up?

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Highlight:

The Foreclosure Fraud Settlement, By The Numbers [View all] ProSense Feb 2012 OP

You forgot this: Earth_First Feb 2012 #1

Waiting for more details, like do I have to contact the bank or is this automatic. tridim Feb 2012 #2

These are the same banks that were part of the 16 TRILLION dollar FED bail out. Do the math. grahamhgreen Feb 2012 #3

Does anyone know where the other $4 billion enlightenment Feb 2012 #4