category

Foreclosure abuse settlement another gift to banks from Obama

A $10 billion dollar foreclosure fraud settlement with 14 banks gives the banks yet another slap-on-the-wrist with no criminal charges being filed with a few scraps being tossed to the victims of the abuse. This is the standard operating procedure for the Obama Administration. Pretend to care for the victims while doing as little as possible to stop such abuses in the future. Rule of law? Oh, that’s for the little people. The big banks consistently and without fail always get off easy when Obama is involved. the $10 billion is chump change compared to what the foreclosures frauds netted them. In a country with a functioning justice system, those responsible would be going to prison.

If, say, half of the 4.4 million borrowers were subject to foreclosure abuses, they would each receive less than $2,000, on average. If 10 percent of the 4.4 million were harmed, each would get roughly $8,500.

Comments are closed.

Powered by WordPress. Designed by WooThemes