Latest Breaking News

chill_wind

(13,514 posts)

4. This is rich:

Thu Feb 9, 2012, 11:25 AM

Feb 2012

"Restitution"..

An additional $5 billion is being allocated in cash to the states and federal government, of which $1.5 billion is being allocated to a fund to be used to provide restitution to homeowners who have lost their home between 2008 to 2011 because they experienced some form of mortgage servicer abuses. The amounts borrowers will receive will vary, but regulators estimate that borrowers could receive between $1500 and $2000 depending on the harm done to them.

Edit to add this comment at the link, which pretty well sums it up:

"Do $1T in bad loans, pay $25B. Nice work if you can find it."

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

51 replies

= new reply since forum marked as read

Highlight:

Banks, states reach $26 billion settlement [View all] Roland99 Feb 2012 OP

Settlements but no jail time, typical banker bullshit. sarcasmo Feb 2012 #1

Not true. tridim Feb 2012 #10

Lawsuits are not criminal investigations brentspeak Feb 2012 #16

Don't ignore the fact that the MERS investigation will continue. tridim Feb 2012 #19

You repeated yourself brentspeak Feb 2012 #25

Beau Biden is on MSNBC right now saying CRIMINAL investigations will continue. tridim Feb 2012 #26

I'm disputing your word brentspeak Feb 2012 #27

I posted a direct quote that addressed the facts in this settlement. tridim Feb 2012 #29

A direct quote that doesn't address the dropping of criminal investigations brentspeak Feb 2012 #31

Really? Conslayer25 Feb 2012 #18

The MERS investigation will continue. I guess you missed that. tridim Feb 2012 #20

Class Action is not off the table. boppers Feb 2012 #48

I guess you did not read the settlements... dennis4868 Feb 2012 #17

Lip service but no sharp teeth, typical Obama bullshit. Censor-Ready Feb 2012 #44

"Not one indictment." Hardly surprising, the bankers buy and sell politicians exactly cstanleytech Feb 2012 #2

+1 sarcasmo Feb 2012 #14

How do I get a piece of that puzzle? FedUp_Queer Feb 2012 #35

How much more corrupt can this system get before people take action? harun Feb 2012 #3

This is rich: chill_wind Feb 2012 #4

Chill wind, that $1,500 to $2,000 should be used by the homeowner as a retainer for competent legal ms.smiler Feb 2012 #9

Yeah, great post Autumn Feb 2012 #24

26 Billion and no jail time BULLSHIT nmbluesky Feb 2012 #5

And last I heard quakerboy Feb 2012 #40

+1 sarcasmo Feb 2012 #50

it's such a huge clusterfuck barbtries Feb 2012 #6

What did Dillinger say when asked why he robbed banks? kemah Feb 2012 #7

That was Willie Sutton, not Dillinger. Fuddnik Feb 2012 #36

So a bank fraudulently confiscates your home and you get $2,000 max? fasttense Feb 2012 #8

The settlement allows individuals to still sue in cases like that. tridim Feb 2012 #13

Dear Tridim, there are no otherwise legitimate foreclosures. ms.smiler Feb 2012 #22

My foreclosure was legit, even though the mortgage paperwork was fraudulent.. tridim Feb 2012 #23

Your payments have nothing to do with the party who brought a foreclosure action against you. ms.smiler Feb 2012 #30

I've seen all of my loan documents. tridim Feb 2012 #32

Sellout, Sellout, Sellout. Fuddnik Feb 2012 #11

Maybe People SHould Take the Law into their Own Hands fascisthunter Feb 2012 #12

Does it include blanket immunity a2liberal Feb 2012 #15

Institutionalized criminality protected by the government = corrupt country just1voice Feb 2012 #21

An era of Evil lovuian Feb 2012 #37

This is sick on all levels. Scruffy1 Feb 2012 #28

Record Shadow Housing Inventory, And How Obama May Have Just Popped The Consumer Spending Bubble Roland99 Feb 2012 #33

0.005% of the CDS-CDO scandal down, 99.995% to go. Festivito Feb 2012 #34

heyhey now, don't be so demanding!! we're contemplating a 0,01 % tax on derivatives transactions BelgianMadCow Feb 2012 #43

I say we hand over banking to bureaucrats and let financiers borrow and bet their own money. Festivito Feb 2012 #45

Well, well, well...looks like business will be picking up for the criminal class. Safetykitten Feb 2012 #38

chump change Skittles Feb 2012 #39

Yet if some destitute person steals a hot dog... Marrah_G Feb 2012 #41

The "fix" is in: National Mortgage Settlement is a done deal-Crime Pays! Great Bizness Model! solarman350 Feb 2012 #42

The theft will continue woo me with science Feb 2012 #46

It's a slap in the face. donheld Feb 2012 #47

Insulting as hell. woo me with science Feb 2012 #49

"Missing Settlement Document Raises Doubts on $25B Deal" ms.smiler Feb 2012 #51