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Thread: States Offer Banks Immunity From Mortagage Lawsuits.....

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    States Offer Banks Immunity From Mortagage Lawsuits.....

    http://www.newser.com/story/127801/s...-lawsuits.html

    State prosecutors are offering big banks an expensive Get Out of Lawsuits Free card. Prosecutors have offered a variety of banks caught up in the “robosigning” scandal immunity from some litigation in exchange for a total of $10 billion to $25 billion in penalties, the Financial Times reports. Some officials think the immunity being offered is far too broad; as written, it could potentially free the banks from lawsuits related to their securitization practices, or at least impede cases related to it.....snip~

    The Fed goes after them then the states turn around and give them Immunity. What gives?

    History does not long Entrust the care of Freedom, to the Weak or Timid!!!!! Dwight D. Eisenhower ~

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    Re: States Offer Banks Immunity From Mortagage Lawsuits.....

    Depends on the State...part of the issue I think is that if the states agree to this one time payment then the banks have free license to go back to the robo-foreclosures, which means there will be a ton more houses available and the real estate market will drop off a cliff.

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