I suppose it should come as no surprise that Republicans aren’t the only entity Obama and his administration simply rolls over for.
Economist after economist state the people won’t believe in economic recovery until the people who created the recession are brought to justice. And, economist after economist say the banks and Wall Street will not change their ways until people responsible begin to see the walls of jail cells…so, in keeping with these times of paying attentions to studies and experts to seek honest solutions to structural problems, the administration appears poised to let the evildoers of the mortgage fraud scandal off with a fine.
But it’s a really big fine…really big…so there.
And of course, I’m sure…the banks will neither admit to, nor deny wrongdoing…
“State and federal prosecutors are pressing to complete a proposed settlement with the nation’s five largest home loan companies over alleged mortgage abuses, even though they’ve only initiated a limited investigation that hasn’t examined the full extent of the alleged wrongdoing, according to interviews with more than two dozen officials and others familiar with the state and federal probes.
The deal with the mortgage companies would broadly absolve the firms of wrongdoing in exchange for penalties reaching $30 billion and assurances that the firms will adhere to better practices going forward, these sources told The Huffington Post. Negotiators met in Washington last week to hash out the settlement.”
Unless the law is applied equally, the rule of law is dead.
Read the article:
As Government Nears Accord With Banks, Questions Swirl Over Scope Of Investigations
Have a nice day.