UPDATE: Attorneys General Settlement With Banksters − More Dissension

by Ken Kappel on October 16, 2011

As you know we’ve run a number of articles about this ongoing saga. We do it, because this is so critical to underwater homeowners and those with foreclosure issues. Some sold-out AGs want to literally give the Banksters a “get out of jail” card regarding criminal activity. We’re serious. Read on.

In order to inform homeowners of breaking news related to foreclosure issues, we often carry articles from DSNews. Carrie Bay tells the story. Read her entire article below, or at her web: “Divide Widens Within AG Camp Over Robo-Signing Settlement.” The link is live. To the article.

“A year after evidence of robo-signing related to the processing of home foreclosures surfaced, state attorneys general don’t seem to be any closer to a consensus on what should and shouldn’t be included in the settlement. In fact, dissension among states’ lead counsels is growing. [Emphasis Added.]

Kentucky Attorney General Jack Conway and Minnesota Attorney General Lori Swanson are now speaking out in opposition of any settlement agreement that would protect servicers from future liability and questioning the thoroughness of the states’ investigation.”

“Conway’s concerns rest with releasing servicers from legal responsibility for actions that he says have not been sufficiently scrutinized.”

“In an email to the Progressive Change Campaign Committee, Conway said, “Today’s economic crisis was caused by Wall Street acting improperly. Every American has paid the price — with families losing their homes, investors losing their money, and many Americans losing their jobs.” [Emphasis Added.]

“Conway continued, “There should be absolutely no criminal or civil immunity given to banks for activity that has not yet been investigated.” [Emphasis Added.]

Ken here. Hear hear. This is important to you, because if the Banksters get a pass, they’ll continue defrauding you. Continue defrauding you. [Emphasis Added.]

“Swanson says she’s against a collective settlement agreement that includes liability protection for mortgages that have been securitized or for improper ownership transfers and documentation related to servicers’ use of Mortgage Electronic Registration Systems (MERS).”

“Her stance mirrors that of Conway’s.”The banks should not be released from liability for conduct that has not been investigated and is not appropriately remedied in any settlement,” Swanson said in a letter to fellow attorneys general that was obtained by Bloomberg News.”

“Swanson and Conway join a growing faction of state counsels raising concerns over how far a national settlement with major mortgage servicers should extend.”

“Last month, New York Attorney General Eric Schneiderman was excused from the executive panel working towards a settlement agreement by lead investigator Iowa Attorney General Tom Miller.”

Ken here. They “… excused….” him? Jeez, they fired him.

“Miller and federal officials accused Schneiderman of “undermining” the multistate talks. Schneiderman has been very outspoken about his opposition to a settlement that might include a liability release and prevent further investigations into the servicers’ foreclosure practices and any violations to securitization agreements.”

“Several other attorneys general – Beau Biden of Delaware, Martha Coakley of Massachusetts, and Catherine Cortez Masto of Nevada – have also publicly expressed reservations about the ongoing settlement negotiations.” [Emphasis Added.]

“While the issue keeps coming up in commentary from attorneys general, Miller’s office has told DSNews.com that the AG Negotiating Committee does not intend to release servicers from all civil liability, including accountability related to securitized loans.” [Emphasis Added.]

Ken here. Oh no. He’ll just have those Banksters over for dinner, and they can leave him a campaign contribution (in a plain brown envelope) on the way in the door. Heck foreclosure fraud seems to be subservient to greasing the wheels with politicians.

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