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Obama to give banks immunity for foreclosure fraud

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The Associated Press reports that a proposed deal could be announced within weeks. Five banks—Bank of America, JPMorgan Chase, Wells Fargo, Citibank and Ally Financial (formerly GMAC)—would pay the federal government $25 billion. About $17 billion would be used to reduce the principal that some struggling homeowners owe, $5 billion more would be used for future federal and state programs and $3 billion would be used to help homeowners refinance at 5.25 percent. Civil immunity would be granted to the banks for any role in foreclosure fraud, and there would be no investigations.

The Nation - Obama Is on the Brink of a Settlement With the Big Banks—and Progressives Are Furious

Searched and didn't find anything. Sock if mold
 
...and there would be no investigations.



I see why they'd be quick to just settle. But let's not let them completely off the hook.

Investigate and embarass these greedy fucking criminals.



I know it's nowhere near what they deserve, but it'd be a moral victory of sorts. If I am being violated, I'd liek to at least know who the violator is.
 
Well at this point letting Obama win another term is definitely worse than letting a Republican win. Yup.
 
Well at this point letting Obama win another term is definitely worse than letting a Republican win. Yup.

I agree the republicans would never let the banking industry off
 
Disgraceful. Even if you accept the idea of a settlement in lieu of criminal prosecution, which I don't, the amount they're being asked to pay is a fucking pittance by any metric.
 
So the decision makers are using the backs of their workers and customers to pay their way out of jail?

I mean, they still want people to pay them back...even though they committed fraud just to get their money...
 
Does it really matter? Central banks & above run everything anyways. This is a bad precedent to set I agree. Nothing seems to surprise me anymore when it comes to what banks get away with.

People/Government/Big Banks / National Central banks / International Central Banks / Central Bank of Central Banks (Bank International)

Then you have the Rockefellers / Rothschilds / Morgans who seem to have limitless wealth.

That order listed above is really the power tree , notice how low government sits on that list? This is the main problem with our country, republicans and democrats cannot fix this. Does not matter who you vote for, because the entire system is designed to benefit the already extremely wealthy.

And yes I've been watching to much Thrive :)
 
Disgraceful. Even if you accept the idea of a settlement in lieu of criminal prosecution, which I don't, the amount they're being asked to pay is a fucking pittance by any metric.

I love that our society has come to this. An entire industry commits mass fraud, and the CEOs come together to literally write a single check to the Prez to make the problem go away in one fell swoop.
 
I'd be lying if I said I was surprised. No one has gone to jail yet for this, and I didn't think they'd start now.

I guess they are both too big to fail and too big to be prosecuted. Any chance that they'll self regulate now that they know they'll never be charged for anything?

The last bit is sarcasm, in case anyone's detector is broken.
 
So the decision makers are using the backs of their workers and customers to pay their way out of jail?
It's even worse than that. Think about how much taxpayer money was pumped into these institutions to bail them out. Think about the extravagant bonuses top execs have received even in the face of their failures and blatant crimes. This is insulting to everyone in the country with modicum of intelligence.
 
The lesser of two evils argument that people make in regards to Obama's reelection can not possibly be entertained by the sane any more. It's like actively choosing between inflicting diarrhea or a migraine on a group of people, when instead you can choose to abstain. Sure they'll end up with either one, but it's not of your doing.
 
that's right Mr. president.
good luck with your reelection campaign.

He'll win most likely, GOP has nothing but idiots. Problem is with the entire system, Obama or Romney (or whoever) cannot fix this. Being president is a powerful position, but to change the entire infrastructure ......
 
It's a settlement, they're paying $25 Billion so nobody goes to jail.

Republicans would've given them immunity without taking any money.
 
The lesser of two evils argument that people make in regards to Obama's reelection can not possibly be entertained by the sane any more. It's like actively choosing between inflicting diarrhea or a migraine on a group of people, when instead you can choose to abstain to make that choice. Sure they'll end up with either one, but it's not of your doing.

so by not voting for either you win when one party wins nevertheless? Ok...
 
I'd recommend the american people stop fighting with each other over what politician would be more suitable. Democrat blue, Republican red, it does not matter.

I always wondered as a kid, how do prisons keep their inmates in control when there are so many prisoners and so few guards? They get them fighting each other, asians , blacks, whites , latino etc.

If we all worked together and united in protest change "might" be possible, but we are to busy every 4 years fighting red vs blue bullshit while nothing ever changes. See my above posts, this entire thing is rigged to keep the wealthy wealthy, and keep everyone else where they are. I am not saying anything you guy's don't already know. Just bothers me to see people arguing over which candidate would make a better president when it won't fucking matter on big issues like this.
 
The lesser of two evils argument that people make in regards to Obama's reelection can not possibly be entertained by the sane any more. It's like actively choosing between inflicting diarrhea or a migraine on a group of people, when instead you can choose to abstain. Sure they'll end up with either one, but it's not of your doing.

If every intelligent person abstained, the greater of two evils would always win. Why not vote for the lesser evil?
 
And this is different than a series of civil settlements how?

It's no different. I would, however, expect more than what amounts to a petty fine from the man that has campaigned and preached incessantly against banking malfeasance for the last several years. Maybe that's just me.

But hey, he talks a good game. Here, I'll give you free condoms and here, I'll stop keystone. That should keep NARAL and the Sierra Club off my back. Maybe with all my pandering to the base they won't notice as I slap the 1% wrist. Bah! This last week has been nothing but a shell game.
 
It means you haven't contributed to the problem. And if you're intelligent you'll vote for a third party candidate.

Except you do help a problem by not supporting a candidate who may be better than the one who won thanks to people deciding not to vote. Perhaps if more people voted in 2000 we wouldn't have had to depend on the SCOTUS making a decision to stop the recount in FL. And perhaps we wouldn't have gone to Iraq, wasting a trillion dollars. Perhaps we wouldn't have had a huge tax cut unpaid for. Perhaps we wouldn't have had the Patriot Act. Yes, truly not contributing to the problem.
 
They should try every one of these motherfuckers.

I'm not surprised the Obama administration isn't going to though. They also didn't try the Bush admin for war crimes. And they let all these idiots on Wall Street keep massive bonuses funded by the bailouts. Corporations have far too much power.
 
If every intelligent person abstained, the greater of two evils would always win. Why not vote for the lesser evil?

Because it doesn't solve shit. Why should we have to vote between two evils? Should we vote for the Democrats who are blasting us in the ass or the Republicans who will blast us in the ass? Or should we go after the mythical third party?
 
Barack Obama
Conservatism you can believe in.

*Paid for by the committee to elect President Obama for the Republican Nomination.
 
They should try every one of these motherfuckers.

I'm not surprised the Obama administration isn't going to though. They also didn't try the Bush admin for war crimes. And they let all these idiots on Wall Street keep massive bonuses funded by the bailouts. Corporations have far too much power.

Wayyyy to much power!
 
Because it doesn't solve shit. Why should we have to vote between two evils? Should we vote for the Democrats who are blasting us in the ass or the Republicans who will blast us in the ass? Or should we go after the mythical third party?

so if only one person voted in this country and every other person abstained, technically the person who received the one vote would win. Congrats. Choosing to abstain surely helps matters.
 
The only thing worse than voting Republican is not voting at all (or voting 3rd party). Voter Apathy is not the solution and anyone who thinks so is a complete tool.

Yes it is. Voting for someone you don't really want is a disingenuous vote. It's a waste of a vote and an endorsement of a broken system.
 
The lesser of two evils argument that people make in regards to Obama's reelection can not possibly be entertained by the sane any more. It's like actively choosing between inflicting diarrhea or a migraine on a group of people, when instead you can choose to abstain. Sure they'll end up with either one, but it's not of your doing.

No. While not perfect, the parties do you have substantial differences. Abstaining is a coward's way out. Politics, while unpleasant, yields positive outcomes for those willing to actually dig in and work at it.

In seven years of being politically engaged I have help to build over 60 miles of trails and greenways, six new parks, an animal shelter, and a new environmental education center. I've also helped to craft legislation to make it easier for environmental land trusts groups to get land donated via easements.

Several of these projects received federal grants from the Obama administration that simply would not have been there if he wasn't in office. SO yes, there are differences between the two.
 
Because it doesn't solve shit. Why should we have to vote between two evils? Should we vote for the Democrats who are blasting us in the ass or the Republicans who will blast us in the ass? Or should we go after the mythical third party?

People will call your apathy stupid but you really are correct man. It's like that Southpark episode, Shit Sandwich or (what was the other option? lol).
 
Feel free to vote, I might. Point is nothing is going to change with these banks, presidents don't have the power to just magically fix everything. Money talks bullshit walks
 
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