Quote:
Statement of National People's Action and The New Bottom Line on AG-Bank Mortgage Settlement Agreement
The mortgage fraud settlement being announced today is a tiny drop in a big bucket. It does not do justice for the millions of homeowners who lost their homes or hold the banks fully accountable for their crimes. For homeowners who were defrauded and lost their homes, $2,000 is too little, too late. It is a paltry down payment toward full relief for homeowners.
~snip~
This fight is not over. The Obama Administration needs to make sure that its task force goes the distance and
delivers at least $336 billion in principal reduction on underwater mortgages and $50 billion in restitution for affected homeowners.
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From what I heard on ABC news, the vast majority of the money is going to CA.