National Mortgage Settlement: Missing Final Deal Document Raises Doubts On $25 Billion Mortgage Settlement

American Banker:

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.

Whatever the reason for the document's continued non-appearance, the lack of a public final settlement is already the cause for disgruntlement among those who closely follow the banking industry. Quite simply, the actual terms of a settlement matter.

Read the whole story: American Banker

Comments

[american-dolt]

01:52 PM on 02/13/2012

Missing....?

When do they get theirs?

[rosiebag]

09:58 AM on 02/13/2012

They have to pass it befor they find it.

[VPerry24]

08:00 PM on 02/12/2012

Just another coverup for what they are really doing, another bailout under guise of helping some homeowners. When will people get it that no one cares about the average guy?

[rogergoldkin]

07:50 PM on 02/12/2012

Throw a couple of bankers and their lobbyists in jail and see how fast they settle.

[Matt12]

02:51 PM on 02/12/2012

Vel, vat a surprise, no?

[Mahi vce]

01:22 PM on 02/12/2012

Is this all the HOPE , CHANGE and TRANSPARENCY Obama promised ?

[wsdave]

04:23 PM on 02/13/2012

This is actually more than I expected. We'll probably see less hope, change, and transparency soon.

[MerthinBuff]

01:07 PM on 02/12/2012

A $25 billion dollar settlement would be fine because the last thing we want to do is destroy companies and force people out of work. But with the $25 billion dollar settlement individuals need to be held accountable. We need more bankers and lobbyists in jail.

[iam99]

12:12 PM on 02/12/2012

This agreement is as real as the taxpayers alleged responsibility to foot the bill for failed derivative bets There is no contract and no sigs yet, so no deal. Or, the assigned "responsible parties" are not even principals in the deal. Kuku, man.

[VPerry24]

12:05 PM on 02/12/2012

Still GWB fault, Obamanites?

[MerthinBuff]

01:05 PM on 02/12/2012

How could it not be GWB fault?

[rogergoldkin]

07:34 PM on 02/12/2012

Yep. If you want to see Boehner crying before Congress in Sept. 29, 2008 pleading for the bailout money needed in order to stave off a second Great Depression caused by GWB's "free markets fix everything, we don't need regulations" philosophy, check this out:

http://www.youtube.com/watch?v=UVOS1CC6V5I

[wsdave]

04:24 PM on 02/13/2012

Do you have a link of Obama signing off on the whole thing?

[krist6804]

11:44 AM on 02/12/2012

Most banana Republics have not experienced banking or financial fraud, like the calamity which was recently discovered in the USA. Basically, the financial holocaust in this country, could be described as third world quality professionalism.

[VPerry24]

12:04 PM on 02/12/2012

It started all with ENRON. They took that as their playbook and won.

[sueinmn]

10:01 AM on 02/12/2012

Yet governors like Wi Walker are already claiming the money to balance budgets? What is wrong with this picture?? Id say just about EVERYTHING!

[GoldwaterKid]

05:54 PM on 02/12/2012

All 49 state governors are going to do the same thing to balance their state budgets for this next year. That was the whole idea.

[wsdave]

04:25 PM on 02/13/2012

Indeed. That's what happened with the tobacco settlement money.

[Captain Hindsight]

09:22 AM on 02/12/2012

What's good for the banks is bad for Americans.
They are guilty of criminal acts and must be held accountable if we are to maintain even a pretense of rule of law in America.
These criminal financial organizations are the first corporate people need to be executed.

[monoloco]

10:13 AM on 02/12/2012

This settlement is just another scheme to shield the banks from exposure to losses from poor investments and allow them to clean up the faulty trust deeds and note they are holding while immunizing them from being prosecuted for the blatant frauds they committed. Let capitalism work, no more bailouts.

[redraspberry]

11:29 AM on 02/12/2012

Holder will never prosecute the banks. Official US policy is if you are or have been connected legally with the thieves you cannot act. He was a lawyer that represented many of the banks before his appointment. So he just sits and does nothing instead of recursing himself.

http://www.washingtonsblog.com/2012/01/is-this-why-they-wont-prosecute-top-justice-officials-represented-big-banks.html

[YourMindsEye]

03:50 AM on 02/12/2012

You cannot believe a word that comes out of the Obama administration. Trans parency cannot exist in a sauna bath.

[lagunasuz]

01:30 AM on 02/12/2012

Perhaps it is like our missing notes, caught up in some huge paper snafu...

[karen1p]

12:06 PM on 02/12/2012

You mean caught up in several different trusts.....but of course not ACTUALLY delivered to those multiple trusts........

[lagunasuz]

05:48 PM on 02/12/2012

Yes, thank you for clarifying my statement. Very well said!

[ur2nutty4me]

11:37 PM on 02/11/2012

Maybe the judicial system will chose to redeem itself in the public's eye and refuse to sign off on this agreement and further scr ewing of the American people..

AHHHHHHHHHHHH who are we kidding......................