Deal Breaker: California state Atty. Gen. Kamala Harris refuses to let five big banks get off easy

[woo me with science]

http://www.latimes.com/news/opinion/la-oe-meyerson-kamala-20111121,0,7391871.story?track=rss

Kamala Harris, deal breaker
California state Atty. Gen. Kamala Harris refuses to let five big banks get off easy in the mortgage mess.

By Harold Meyerson
November 21, 2011

Even as Occupy Wall Street protests have turned America's attention to the economic inequality that has soared as banks have come to dominate our economy, those banks have been quietly working to cut themselves still one more sweet deal. Whether they get away with it may ultimately depend on California Atty. Gen. Kamala D. Harris.

The deal — which the 50 state attorneys general and the Obama administration have been haggling over with our biggest banks for more than a year — would require the banks to pay roughly $25 billion to certain beleaguered or former homeowners, chiefly as compensation for the "robosigning" abuses the banks engaged in as they zealously sought to foreclose on hundreds of thousands of homes. In return, the states would agree not to pursue claims against the banks for whatever fraud and abuse they may have committed in originating dubious mortgages.

.....Harris has come under pressure from the Obama administration to get with the program and agree to a settlement. (Having declined to go after the bankers themselves, administration officials now want some agreement, however inadequate, that they can tout to voters.) But Harris has also come under pressure from a broad coalition of community organizations, unions and liberal groups — the realpolitik adjunct of Occupy Wall Street — not to settle unless the banks come up with much more than they're offering, or, if that offer isn't increased, unless the banks are denied the sweeping waiver for crimes they may have committed.

....
In this case, Harris' smart politics is also good policy for California. Positioned at the very center of the fight between Wall Street and the 99%, Harris has come down on the side of the 99%. That speaks well not just of her but of the emerging movement, whose voices she's heard, to restore some equity to America's politics and economy.

[tabatha]

1. Good for her.

[Enthusiast]

28. OWS should hold a demonstration in her support.

Good idea?

[Left Coast2020]

46. Absolutely. Getting to downtown Sacramento is no prob for me.

Plus, IMO, it gives the movement some positive exposure to what we stand for--the people who have been screwed out of their homes. I say lets do it. Ms. Harris needs our support.

[JDPriestly]

2. Thank you, Kamala Harris.

California is on your side.

Why don't we establish a state bank while we are at it?

[indepat]

40. Thank you, Kamala Harris, for not bowing to pressure to rush to an inadequate

RW settlement that lets fraudsters escape criminal culpability for their egregious and startling number of crimes. :patriot:

[FirstLight]

56. yes.

and a moratorium on ALL further foreclosures would be another good move!

[xchrom]

3. Recommend

[loudsue]

4. This right here is the moment of truth...Obama & the rest of the country

need to get behind Ms. Harris. In fact, we all need to robocall our governors starting Monday to make sure they understand that we do not support wiping the bank's asses with our legal system.

[girl_interrupted]

7. K&R +1 NY State Attorney General wants to do the same

And from what I've read so do other state attorneys. The Obama administration isn't for it, they don't want investigations, prosecutions, they want to give the banks a deal, taking them off the hook for the mess they created. Isn't it ironic, when it comes to dealing with OWS protesters and police brutality, Obama stays quiet and leaves it up to each state. But when it comes to how states want to go after the banks for creating the financial crisis they put this country in, he's all ears and speaks up for the banks. Very disappointing to say the least.

[mattclearing]

9. Well put. n/t

[woo me with science]

10. +1

[OVERPAID01]

25. Wow, you have summed up the Obama admin perfectly

Of every promise Obama broke, I take his "economic and civilian rights of all Americans promises", as his biggest failures. I have never in my entire life as a U.S. citizen been more ashamed of our international policies and our nation's attitude towards those who are less fortunate. How any nation treats the elderly and the infirmed says what they are truly about...

[Enthusiast]

29. That is why Obama is the President.

This is the reason they agreed to allow him to be elected. Otherwise he would have been swiftboated into oblivion and they would have cheated in Ohio and Florida.

[russspeakeasy]

31. This I believe and have believed for years.

The powers that be, laugh at us when we cast our votes. It's entertainment for them. Who is them ? Big banks, international interests, big pharma, SCOTUS, big ag, individual billionaires, the msm, big insurance companies, energy conglomerates, communications companies, etc.
Until we get money out of politics, ban politicians from becoming lobbyists and revamp the tax code, we are seriously screwed.

[2banon]

41. +10 exactly

[xxqqqzme]

44. sounds like a plan to me!

+1

[woo me with science]

35. The veil is lifted. nt

[loudsue]

51. That is so totally true. Anybody that thinks there have not been shots across the bow

toward him and his family from the get-go have not been paying attention. People with that much power are not going to let a popular president of any country get away with something that might turn the tide of humanity toward a good direction. But also, anyone who read Obama's two books before he became president KNEW that he was a globalist/corporatist advocate. I believe he truly did have a vision for it to be a little more equitable, but nevertheless, HE TAUGHT AT THE U OF CHICAGO, fer chrissake, so he still believed corporatism was always the wave of the future.

Until the powers that rule the rulers of the world are brought into check, (think trillionaire Saudi Sheiks, and rulers of the banks of the world) there will not be a ruler who can turn the world in the right direction. The powers of darkness have a wide reach, and they've already decided what kind of laws our legislators are going to pass.

[xxqqqzme]

43. +1

[Response]

49. Why waste time looking backwards when we can all

work toward an easy settlement that doesn't imply the banks did anything wrong?

[HowHasItComeToThis]

39. YES YES YES

[ProSense]

5. Kamala Harris

is cool. She should have a chat with Antonio Villaraigosa.

[Segami]

6. K&R! n/t

[phasma ex machina]

8. Talk is cheap. Until you show me the BoA money it's quite clear that central bankster royalty rules.

Matter of fact, what's there to talk about other than a court date? Fraud is a felony.

[2banon]

13. +1 exactly

[Major Hogwash]

11. If she doesn't go along with the deal, she'll be replaced by someone who will.

The banks were "too big to fail" but, if she thinks differently, she is walking on thin ice.

[2banon]

14. Yeah, I hope she doesn't have a Weiner or Spitzer problem.

I know her mayoral term in San Francisco was rough going for her. She left that post in the nick of time I think. Just the same, May the forces be with her, and let her stay strong.

[banned from Kos]

12. She will lose in court. She can't prove actual damages. But she is politically astute

I give her that.

[bvar22]

38. If the Big Banks have nothing to fear from criminal charges,

then why is The Administration and The Banks (Oops, redundant) fighting so hard for an Immunity clause? :shrug:



You will know them by their WORKS,
not by their excuses.
Solidarity99!
--------------------------------------------------------------------------------------------------------------------------------

[bhikkhu]

15. The devil is in the details...

which we don't really have as the whole thing is ongoing and very technical. I understand the administration's goal of settling soon (its been years now) and gaining some actual relief - money on the table - from the banks. Of course, how much is up in the air, and exactly what the AG's give up on the criminal side to gain a settlement is at issue too.

I think there are good people involved all around (talking about the various AG's and the administration), and hope that the whole thing settles out soon. The media likes to see things like this fall apart into acrimonious backstabbing - but so far it looks like a good agreement may be reached.

[quakerboy]

17. Why hope for "settles out"?

If fraud happened, wouldn't it be best to see people go to jail for it, rather than settle out? If there is criminal action, civil action would surely follow. I would not mind seeing these 5 get hit with thousands upon thousands of lawsuits so that the individuals harmed (investors and prospective homeowners) can, individually or in groups, recover damages?

[nineteen50]

24. Every debt caused by fraud should be dismissed.

[Enthusiast]

30. Bingo!

[Angry Dragon]

33. +462

[saras]

52. And, EVERY banker who committed, tolerated, or looked away from fraud deserves hard time...

No country clubs, real prisons, where they can encounter, first hand, the results of their actions.

Seriously, bankers have lots of money. EXTREMELY profitable for private prisons.

[OVERPAID01]

26. Banks have stolen 25% of all land in this country

Through unethical mortgage agreements, automated processing of these bad mortgages and the automated foreclosures, the banks own 25% of all homes in this nation. And this guy wants to waive every citizens rights on law suits and financial recovery of their homes? Is all the land in your state that has been taken from you worth a total of 500 million dollars or less? That is all you get, less legal fees etc. With no legal options after the settlement. If you think the banks are screwing everyone now, wait until this is signed off on and the banks have free reign to do the major foreclosures that are coming up.

[russspeakeasy]

32. Their license to steal will be renewed with benefits.

[TheKentuckian]

45. Why? What is the benefit for the people, a token repayment?

What are your priorities?

[progressoid]

16. Rec.

[Magoo48]

18. 25 billion, roughly one percent of what they owe?

[Raksha]

19. Thank you, Kamala Harris!

[WillyT]

20. HUGE K & R !!!

:kick:

[geckosfeet]

21. + for Kamala

[jerseyjack]

22. Primary Obama with Kamala.

[ScottLand]

23. We could really show those banks by giving them more money

and warning them not to do this again (if possible or unless they want to). That would teach them a lesson! Wait, that's exactly what we're going to do.

[Enthusiast]

27. kr.............TPTB will have to kill her.

[bertman]

34. Bless you, Attorney General Harris. Please do not fly in small aircraft. REC. nt

[Hotler]

36. Kicking! n/t

[earcandle]

37. Thank you Ms. Harris. It is against the law to allow rich people to pay to get out of crimes

committed against the American people. 

[xxqqqzme]

42. After Jerry Brown's

totally uninspired performance as Attorney General, Kamala Harris is a real promise. Maybe she can replace Feinstein in the near future.

Well, I can dream.

[UrbScotty]

47. Now that's what I call a Democrat!

[woo me with science]

53. See? They still exist.

We need to THROW OUT all the fake ones.

[DeSwiss]

48. She'll need increased security. - K&R n/t

[hulka38]

50. K&R

[Warren DeMontague]

54. and, she refuses to go after REAL criminals, i.e. pot smoking cancer grannies!!!

Seriously, lady, leave those poor harmless bankers alone and do your job, which means using those shiny million dollar SWAT team trucks and helicopters to incarcerate as many chemo-sick potheads as humanly possible! What the fuck???

[Dawson Leery]

55. The right wing groups put millions upon millions to defeat her.

This is why.