States Negotiating Immunity for Banks Over Foreclosures

[Hissyspit]

Source: Reuters

States negotiating immunity for banks over foreclosures

By Scot J. Paltrow
NEW YORK | Wed Jul 20, 2011 6:24pm EDT

By Scot J. Paltrow

NEW YORK (Reuters) - State attorneys general are negotiating to give major banks wide immunity over irregularities in handling foreclosures, even as evidence has emerged that banks are continuing to file questionable documents.

A coalition of all 50 states' attorneys general has been negotiating settlements with five of the biggest U.S. banks that would include payment of up to $25 billion in penalties and commitments to follow new rules. In exchange, the banks would get immunity from civil lawsuits by the states, as well as similar guarantees by the Justice Department and Department of Housing and Urban Development, which have participated in the talks.

State and federal officials declined to say if any form of immunity from criminal prosecution also is under discussion. The banks involved in the talks are Bank of America, Wells Fargo, CitiGroup, JPMorgan Chase and Ally Financial.

REUTERS REPORT PROMPTS LETTER

Reuters reported Monday that major banks and other loan servicers have continued to file questionable documents in foreclosure cases. These include false mortgage assignments, and promissory notes with suspect or missing "endorsements," which prove ownership. The Reuters report also showed continued "robo-signing," in which lenders' employees or outside contractors churn out reams of documents without fully understanding their content. The report turned up several cases involving individuals who were publicly identified as robo-signers months ago.

Read more: http://mobile.reuters.com/article/idUSTRE76J7J820110720?irpc=932

[aquart]

1. NO immunity unless the mortgages are forgiven.

Why should only the victims pay?

[The Big Vetolski]

9. Is there any remaining doubt about who runs this country? nt

[StarsInHerHair]

11. no

[EFerrari]

14. The victims are being made to bear the whole weight of this crime spree. n/t

[Solly Mack]

2. K&R

but let me run a stop sign.

[mike_c]

3. of course they are....

Well color me surprised, LOL. :rofl:

[xchrom]

8. +1

[whosinpower]

4. That is disgusting

No immunity.

No - Get out of Jail card.

Penalties for breaking the rules - yes - 100's of billions of dollars - state, personal and federal.

That penalty money would be used to set up an independant authority which the banks would have to go through to make SURE they follow the rules - and if they don't - MORE penalties.

Honest to friggin God.....they frickin BREAK the entire world economy using questionable mortgages and securities that they FRIGGIN invented - bet against it, broke AIG in the process, blew up the economy and ground inter bank lending to a total freeze....and THEY GET IMMUNITY FOR 25 BILLION?!?

No way.

[Remember Me]

7. AND get to continue stealing people's houses -- don't forget that

I'm currently involved in what is surely a fraudulent foreclosure myself. Fortunately, MY bank isn't among those names -- but that probably doesn't matter.

Everytime I think things can't get more blatantly worse, something comes along to knock me senseless again. Raiding the Treasury and stealing our tax money isn't enough; they want our real estate too, and WILL, by God, have it -- with the blessings of the several 50 states.

There is absolutely nowhere to hide from this fascist steamroller that's after us, is there?

[msongs]

5. steal a twinkie go to jail, financially rape the nation get a job in DC nt

[Dawson Leery]

12. It's called fascism.

[Amonester]

17. a VERY, VERY WELL PAYING job in DC

screw the people, and get a medal, and a signature bonu$

[DeSwiss]

6. K&R n/t

[Hissyspit]

10. kick nt

[The Magistrate]

13. These Are Crimes, Ma'am: Executives Should Be Jailed, Fraudulent Mortgages Voided

[buckrogers1965]

15. This is insane.

How can they be giving immunity? If they broke the law, shouldn't they be prosecuted to the full extent of the law?

Or am I just being naive?

Thinking about the banks being given immunity is making me feel sick, or really angry. It's alternating.

[Amonester]

18. Too Big To Fail, remember?

It's the faux excuse for "Campaign Contribution Checks are Too Big To End" because, well, the truth would spark a revolution.

[Hissyspit]

16. kick nt

[Hissyspit]

19. kick nt