The Obama administration plans to extort at least $20 billion from the banks to settle various government probes over inadequate paperwork processing for mortgages.
Blaming the rich is the major theme from Barack Obama these days. He thinks that will get him reelected.
(Bloomberg) — About a dozen state attorneys general met this week to discuss their mortgage investigations and how they might work together as settlement talks with banks over foreclosures drag on, three people familiar with the matter said.
The group, which met in Washington, included New York Attorney General Eric Schneiderman, California’s Kamala Harris and Martha Coakley of Massachusetts, according to two of the people, who declined to be named because they weren’t authorized to speak about the meeting. Schneiderman, Harris and Coakley are each conducting separate investigations of bank practices.
The meeting occurred as state and federal officials are negotiating a settlement with the five largest mortgage servicers, including Bank of America Corp. and JPMorgan Chase & Co., that would set requirements for conducting foreclosures and provide relief to homeowners.