Commentary on current events, politics, government, and popular culture from John Sheirer, author of the book, Make Common Sense Common Again.

Saturday, February 11, 2012

This is a very Good Beginning ...

The foreclosure fraud settlement is a big victory for the American people and a great first step toward accountability for the big banks that helped crash the economy. $25 billion goes directly from those abusive banks to help people victimized by foreclosure fraud. This is just a start because President Obama's task force will still pursue the bank's criminal activity in mortgage, securities, tax, and insurance fraud, among other crimes. Thanks to the president, U.S. Attorney General Eric Holder, task force leader New York Attorney General Eric Schneiderman, and the attorneys general of 49 out of the 50 states who approved this first-step settlement.

The Rachel Maddow Show has an excellent analysis.

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