February 05, 2012

Mortgage deal near? Is it maybe a good one?

The fact that California and New York AGs are both participating in the federal deal with banksters again, and are getting concessions from Team Obama's negotiators to get tougher with the big banks. It sounds tentatively hopeful. But, let's wait until the dotted lines are signed before we get jubilant.

But, here's the biggie:
California has been focused on measures that would benefit individual homeowners, while New York has been most interested in preserving its ability to investigate the root causes of the financial collapse. 
If we get more of both of these, then we're cooking with a little bit of gas.

The first is very important, given how much the banksters took in subprime mortgages, alphabet soup derivatives and more.

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