This being an election year, our trusted (?) servants are shouting to the heavens about the fantastic deal they made for us with the mortgage industry rats who ruined the economy.
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I try to follow these events closely; this deal with the foreclosure industry has been rumored for months, on again, off again, and last week, the deal between the states’ Attorneys General, and the Feds, was done.
Today, I read: not so fast, my friend.
Abigail Field, who keeps a closer eye than I, says, NOTHING has been signed!
The $25 billion sellout to the purveyors of the foreclosure crisis is still being NEGOTIATED!
Gee, what is holding things up? Something insignificant, or some real sticking points?
” I mean, the banks wanted the MERS suit done and gone; the feds do what the banks want; no way an identical fed-state liability release lets Schneiderman keep his MERS suit intact.”
(from Ms. Field’s post)
I have been posting about MERS for a long time. They should have been sued before I started my rants some 4 years ago.
Affirming another point I have seen and only occasionally mentioned, this White House i i bed with the foreclosure industry.
“Some who talked to American Banker said that the political pressure to announce the settlement drove the timing, in effect putting the press release cart in front of the settlement horse.”
Just like the last, oh, several? All? It is easier for the CEO of Big Bank to play golf with a prez than for you or me.
Obama postures himself as the friend of the underdog. No one has done more the last three years for the giant, international, financial industry companies than he has. That does not mean McCain would have been any better, it just means, look at Obama’s actions.
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