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SEC standoff delays big bank’s mortgage settlement

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Mortgage Professional America | 28 Oct 2014, 12:06 PM Agree 0
An internal fight at the SEC is stalling the last piece of Bank of America's record $16.7 billion mortgage settlement with the U.S. government.
  • Disgusted | | 28 Oct 2014, 03:03 PM Agree 0
    I am a republican who is disgusted with Republican officials who are too willing to cover for the TBTF banks and the mega corporations.

    Wrong doing is wrong doing and crime is crime. Companies that conduct themselves in a dishonorable and deceptive fashion should be put out of business. But, of course, the regulators fear that because they cannot continue shaking the perpetrators down for lucrative fines and penalties.

    No, I won't go Democrat. They're worse! Down with the party system!
  • Wm Matz | | 28 Oct 2014, 05:19 PM Agree 0
    Disgusted, look at bigger picture. I don't know enough of the fine details to know whether I support or oppose the BA settlement. But it was Treas. Sec. Geithner who told banks in closed mtg that they did not have to do mortgage mods, that the Obama Administration would not enforce. No enforcement of OCC and Fed consent decrees. Obama's AG says he's afraid to prosecute Wall St. execs. Look at Wall street's 2008 campaign contributions - overwhelmingly for Obama; they got what they paid for. Wall St was afraid of McCain because he became a convert to reform after getting burned by Keating in the S & L crisis. Republicans are in the pocket of Big Oil, but Wall St. runs the Democrats, despite amazing spin to the contrary.
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