Matt Taibbi @ Rolling Stone - Amidst all the bad news coming out of Wall Street and the economy, here’s something good: California has backed out of the talks for the long-awaited foreclosure settlement, now making it far from likely that the so-called “Attorneys General” deal will happen anytime soon.
California Attorney General Kamala Harris sent a letter to state and federal regulators explaining that she pulled out because the proposed settlement amount for banks guilty of bad securitization practices leading up to the mortgage crisis – said to be in the $20 billion range – was too small. From Business Week: Read more.
California Attorney General Kamala Harris sent a letter to state and federal regulators explaining that she pulled out because the proposed settlement amount for banks guilty of bad securitization practices leading up to the mortgage crisis – said to be in the $20 billion range – was too small. From Business Week: Read more.
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