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HUFFPOST SUPER USER
Kye154
01:30 AM on 03/18/2012
I agree with HUD secretary Secretary Shaun Donovan. This is a rip-off by the states, and by any other name outright fraud! Missouri Governor Jay Nixon and, state Attorney General Chris Koster , as well as Wisconsin Governor Scott Walker and state Attorney General J.B. Van Hollen, should have criminal charges placed against them, as an example to all other governors and State AGs that engage in this sort of fraud and misrepresentation. They are criminal in every sense of the word for even thinking about taking away the money that is entitled to the home owners. This is horrible that state governments would snooker people out of their money and rightful mortgage entitlements.
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HUFFPOST SUPER USER
Thanks4Watching
Daily dose of cynicism
12:25 AM on 03/18/2012
The fact that governors are even considering doing this with money intended to help victims of the foreclosure crisis is indicative of just how evil crony capitalism is.
11:55 PM on 03/17/2012
Let me get this straight. The Obama administration negotiated a $25 billion mortgage assistance settlement and "forgot" to stipulate that the money is to be used to assist homeowners! Pitiful.
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HUFFPOST SUPER USER
aquarius254
People, It's Common Sense
11:50 PM on 03/17/2012
You can't expect Teaparty hacks like Scott Walker to do the right thing. This isnmoney that would probably go to middle-class families, a group he definitely doesn't care about. Would rather use the money to cover the deficits he's running as governor.
HUFFPOST SUPER USER
palomino78
12:36 AM on 03/18/2012
You can't expect liberal hacks like Dan Malloy to do the right thing. This is money that would probably go to middle-class families, a group he definitely doesn't care about. Would rather use the money to cover the deficits he's running as governor and to shore up union support.
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HUFFPOST SUPER USER
aacme
My micro-bio is on a strict need-to-know basis.
08:15 AM on 03/18/2012
I know gopers start out with an intelligence deficit (actual study) but you could try to write your own comments. They will be lame, but so are those of all the right-wingers.
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HUFFPOST SUPER USER
aacme
My micro-bio is on a strict need-to-know basis.
08:17 AM on 03/18/2012
And, so you know, for future reference that this is not just about slinging dirt, read iirm's comment below.
HUFFPOST SUPER USER
iirm
hard working cancer survivor who believes you can'
09:23 PM on 03/17/2012
While this may be frightening news to some, those of us who have been following of this story are not surprised. Gov. Scott Walker has decided to use his state's portion to plug a hole in his budget so that he could claim that he "balanced his budget". I suggest you look into the suddenly balanced budgets of other republican governors. Might be worth a peek.
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rigslip
I've been to hell and back
11:50 PM on 03/17/2012
HuffPo failed to tell you Cali. will use all of it (100%) for budget remedy. It's not just republicans. Ill, Nev, Wash, and a few others have all made statements claiming large portions of the settlement. Give it a few months for the truth to come out and you'll more than likely find every state will do the same thing.
This user has chosen to opt out of the Badges program
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lj9283
Why is "Carried Interest" not taxed as Income?
12:41 AM on 03/19/2012
That's not true.
04:47 AM on 03/18/2012
Not true. California has appointed Katie Porter, a UC Irvine law professor and respected bankruptcy attorney, as it's own enforcement administrator, separate from the entirely inadequate enforcement stipulated in the agreement.

Dr. Porter knows where all the bodies are buried in mortgage, servicer and foreclosure fraud and has published on the subject. You can read her intelligent posts at creditslips.org.
HUFFPOST SUPER USER
Peanut Santiago
09:14 PM on 03/17/2012
Tobacco settlements.....bank bailouts.....and now mortgage settlements......

The government does NOT put any specific requirements in the settlement contracts......

IMHO it is done on purpose.

And ordinary Americans get the shaft time and again.
09:07 PM on 03/17/2012
There is something ironic about the Feds telling the States to "do the right thing" after giving trillions to Banksters with no strings attached.
HUFFPOST SUPER USER
hanspij
10:29 PM on 03/17/2012
They give the money back to those banksters, hoping they get a litle bit more in return.But you never know .:(
This user has chosen to opt out of the Badges program
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HST
Conservatism = selfishness
09:05 PM on 03/17/2012
"In Wisconsin, Governor Scott Walker and state Attorney General J.B. Van Hollen announced plans last month to use $25.6 million of the settlement money (about 18 percent of the $140 million Wisconsin will get in total) to plug holes in the state's budget."

Wait, I thought since Walker busted the unions and slashed education all was rosy with the Wisconsin budget?

Guess it was all a ruse to dupe the baggers.

Wisconsin you've been had.
08:34 PM on 03/17/2012
This is all a ruse. Pretend they are dissatisfied with what states plan to do with the money while it's what they had in mind all along. If you didn't want them to use it for anything other than it's intended purpose it should have been spelled out in plain language in the agreement. Wussies!
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HUFFPOST SUPER USER
woody7
Always a Dem, but..............
08:16 PM on 03/17/2012
was that spelled out in the agreement? kind of like that that was left out of the bailout??
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HUFFPOST SUPER USER
idisVA
07:42 PM on 03/17/2012
Why government didn't require States to spend the money on home owners. I think respective communities affected should sue States like Wisconsin.
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stargazer13
To Love One Is To Love All
07:52 PM on 03/17/2012
WHY :) ??
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HUFFPOST SUPER USER
anelder
07:55 PM on 03/17/2012
Just how would that forcing business sit with all the hollering about states rights that would be heard?

Probably the only thing Washington could do is keep monies back additional funding to states as they did recently to Texas. When Texas eliminated certain health care funding in state budget.
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how goes the matrix
War is peace, Freedom is slavery, Ignorance is str
07:38 PM on 03/17/2012
Saturday, March 17, 2012

Neil Barofsky, Matt Stoller, and Yves Smith on Why the Mortgage Settlement Sucks

http://www.nakedcapitalism.com/2012/03/neil-barofsky-and-matt-stoller-on-why-the-mortgage-settlement-sucks.html

Interviews on RT TV
HUFFPOST SUPER USER
iirm
hard working cancer survivor who believes you can'
09:25 PM on 03/17/2012
Interesting that Neil who was closely involved in the bank bailouts now wants to tell us what crooks they all were and how he knows so much better. Too little too late if you ask me.
06:04 AM on 03/18/2012
It is interesting and this isn't the first time he's come out loudly against more backdoor bank bailout programs. He either learned something or is seeking atonement.
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EdCorner
Lifelong Democrat..... until the bailouts.
07:36 PM on 03/17/2012
Are you kidding me - Come on guys, play fair! LOL. No one is playing fair since you've allowed the banks to get away with cheating their way through our treasure.
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how goes the matrix
War is peace, Freedom is slavery, Ignorance is str
07:40 PM on 03/17/2012
Gets more Orwellian by the day ...
HUFFPOST SUPER USER
palomino78
12:39 AM on 03/18/2012
Banks??! Don't worry, it was done with the gov't's blessing.
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HUFFPOST SUPER USER
Stretchumall
07:04 PM on 03/17/2012
"R" States: Lets see, how can we funnel this money back to us without the citizens seeing a dime?
06:56 PM on 03/17/2012
Do't tell me he did not see this coming!!!! Come on!!! The AGs have been chomping at the bit to finalize the "settlement" not for the sake of the citizens of their state, but to see how much of the settlement money will line their own pockets. We who have been fighting foreclosure fraud for years knew that this settlement would end up helping no one. In fact, recent reports state that the money the banks will pay will not even come from their own coffers. They are going to go after investor money, pension funds, etc. in order to pay the $26 billion. It's time America woke up and starting jailing these thieves.
HUFFPOST SUPER USER
iirm
hard working cancer survivor who believes you can'
09:28 PM on 03/17/2012
Do you all remember how incensed the republicans became when Obama settled for $20 billion from BP? They all bent over backwards apologizing to their corporate owners. Did you seriously believe the government could have gotten a more restrictive agreement with this settlement? I think the best thing they can do now is withhold funds to those who refuse to use it for the purpose it was intended.