patrick.net

clambo says

Obama is 1. buying votes

If you think this is a democrat or republican issue you are mistaken. This is an america thing. Democrats, republicans, same circus, different clowns.

APOCALYPSEFUCK is Tony Manero says

If the settlement doesn't come with millions of banksters being kicked to death in the town squares of America, it doesn't come close to doing justice.

This will not be the last one. Dems or republicans,this will keep going.

nonsense woppa.
The banks were foreclosing on some guys who were not paying their mortgages for whatever reason they had.
This is an issue completely unrelated to banks making huge stupid gambles and losing money on their trading of CDS, etc.
This is also unrelated to banks making commissions.
Foreclosing on delinquent people is a normal function of the process.
This is just Obama using the process as an opportunity to rant against banks and champion those who 1. bought more than they could afford 2. bought at the peak of the bubble 3. can't pay 4. don't want to pay
As much as I dislike banks, they were only foreclosing on defaulting people and this is what they have to do.
Telling banks to eat the principal loss is blackmail.
I hate Bank of America, but the guy who goes in to stick them up should still go do jail.

Yves Smith has an excellent breakdown http://www.nakedcapitalism.com/2012/02/the-top-twelve-reasons-why-you-should-hate-the-mortgage-settlement.html