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  Topic: Report: Obama cutting secret
deal with banks because
foreclosure probe is going badly
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Report: Obama cutting secret
deal with banks because
foreclosure probe is going badly

Washington Examiner [DC], by Joel Gehrke

Original Article

Posted By:JoniTx, 1/5/2013 5:02:04 PM

President Obama’s financial regulators are reportedly negotiating a secret settlement with 14 banks to end an investigation into predatory loans and foreclosures because federal investigators are having trouble finding the evidence they need for a successful end to the probe. Fourteen banks — such as JP Morgan Chase, Citigroup, and Bank of America — would pay $10 billion, under the settlement, that would be used for relief for homeowners and families that have lost their homes. What do the banks get? “The proposed settlement would also halt a separate sweeping review of more than four million loan files

      


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Reply 1 - Posted by: Cleanhousein2012, 1/5/2013 5:10:16 PM     (No. 9100669)

Isn´t that called extortion?

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Reply 2 - Posted by: Scribelus, 1/5/2013 5:10:54 PM     (No. 9100670)

Alegal extortion, of course. And the fascist scum will get away with it, be cause there is "no controlling legal authority".

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R-G1
  
R-VAR_AD


 
Reply 3 - Posted by: balogreene, 1/5/2013 5:11:06 PM     (No. 9100672)

Why, if they can´t prove anything, would a bank agree to pay? Is the government going to lie about their findings? (no need to answer that)

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Reply 4 - Posted by: trappedinmn, 1/5/2013 5:15:18 PM     (No. 9100676)

So the banks pay 10 billion, the administration doles it out to their special interest groups, the people who might have been injured originally get nothing, and the costs of mortgages go up to replace the banks´ 10 billion, and the taxpayers and other innocents get screwed. Thanks again Washington.

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Reply 5 - Posted by: King of all trolls, 1/5/2013 5:19:02 PM     (No. 9100684)

Hey, we bailed them out. we´re 17 trillion (or is that 18) in the hole. Time to return the favor...or else! And so it goes in a fascist system.

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Reply 6 - Posted by: hamrman, 1/5/2013 5:31:35 PM     (No. 9100695)

This guy is unbelievable...a true snake!

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Reply 7 - Posted by: Keekng, 1/5/2013 5:32:14 PM     (No. 9100696)

Buehler? Is that you, Buehler?

Anyone see the ruling against the DOJ in the amount of $3.5 Million for bullying South Carolina?

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Reply 8 - Posted by: calgrammy, 1/5/2013 5:33:28 PM     (No. 9100697)

So no evidence can be found. Why pay up one cent? Oh yeah, it´s the dear leader redistributing wealth.

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Reply 9 - Posted by: jntsrgn, 1/5/2013 5:45:18 PM     (No. 9100714)

JP Morgan is on the short end of about 50 TRILLION in bad bets on mortgages and gold.
This is just payola so the Fed keeps them afloat.

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Reply 10 - Posted by: Spidey, 1/5/2013 5:45:27 PM     (No. 9100716)

I don´t have a problem with people getting compensation for wrongly being evicted because of a paperwork screw up or whatever but I don´t think there was that many people who fall in this category. The left wing trial lawyers completely invented this robo signing thing out of thin air and a lot of people will get money over these bogus claims. It´s black and latino legal groups that keep mauling these banks with frivolous lawsuits,so they want them off their backs and will pay through the nose for them.

This whole calamity was created by left wing socialized housing programs and banks wound up in a lose/lose situation.

Now obama is using FHA to create more of doomed to fail loans.

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Reply 11 - Posted by: BaseballFan, 1/5/2013 5:52:44 PM     (No. 9100722)

Whew! Where would we BE without that good ol´ Obama Transparency (TM) ??

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Reply 12 - Posted by: Country Boy, 1/5/2013 6:05:16 PM     (No. 9100734)

#5 "Hey, we bailed them out. we´re 17 trillion (or is that 18) in the hole. "

Ahhh, most of those banks were forced to take the TARP money (at usury rates). All by AIG paid all back in full, with interest. AIG will complete the repayments soon.

What taxpayers lost money on in TARP is obamaMotors. I think it was originally $30 billion in the hole for the new GM. But everything is laundered through Ally Capital, so hard to tell.

But no money was lost on Wall Street. It was the obama takeover of GM that cost so huge.

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Reply 13 - Posted by: mizzmac, 1/5/2013 6:32:23 PM     (No. 9100754)

Yet another Chicago shakedown by the criminal-in-chief.


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Reply 14 - Posted by: TruthAndJustice, 1/5/2013 6:40:54 PM     (No. 9100760)

Blackmail takes on new meaning...

Does corruption no longer matter when delivered by our Attorney General, our President and Senate Majority leader? Do we have new standards for corruption and following the law depending upon ones party affiliation or ones ethnicity...

J. Christopher Adams had the guts to call out Holder and his Justice Department as not only corrupt but racist thugs when he up and quit...

When will the media do their job? This is America´s saddest, most pathetic chapter to respond to this cabal of communist thugs with utter impotence.

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Reply 15 - Posted by: Italiano, 1/5/2013 7:18:00 PM     (No. 9100780)

Nothing but a shakedown by our rogue Gestapo "Justice" Department. No evidence of discrimination whatsoever. One of the banks was facing an Obama-appointed judge, and elected to settle.

None dare call them reparations. But that is exactly what they are.

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Reply 16 - Posted by: hamrman, 1/5/2013 7:19:30 PM     (No. 9100783)

He is not a leader but a thug...deals?

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Reply 17 - Posted by: TruthAndJustice, 1/5/2013 7:19:43 PM     (No. 9100784)

Same dirty deal Obama´s bag woman Kamala Harris performed in Kalifornia...government sponsored anarchy for redistribution purposes...Completely illegal...completely corrupt.

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R_DBL_B
  


 
Reply 18 - Posted by: gasmeterguy, 1/5/2013 8:25:58 PM     (No. 9100814)

Not only the banks are being shook down by this administration. Anyone remember Gibson Guitar? That was a shake-down operation, too.

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Reply 19 - Posted by: woofwoofwoof, 1/5/2013 8:48:31 PM     (No. 9100841)

"Predatory lending" is about as common as the chupacabra, but $10b is chump change on the scale these banks operate, Bernanke will just print some more moolah and hand it back to them. It´s all funny money.



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Reply 20 - Posted by: nonsense, 1/5/2013 9:03:18 PM     (No. 9100849)

The man who lives in Our House operates in secret. You don´t say?

Wasn´t ValJar just meeting with big banks in secret? Perhaps she should get the credit for this move.

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Reply 21 - Posted by: ColonialAmerican1623, 1/5/2013 9:23:03 PM     (No. 9100860)

So much for transparency.

Some people lost their homes because they were downright stupid, others because of income loss. It´s the people doing everything possible to hang onto their homes because of the investment that these banks treat poorly.

The amount of money dumped into Citi should be questioned, starting with the massive amount the prince gave them.

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Reply 22 - Posted by: photoman628, 1/5/2013 11:27:45 PM     (No. 9100964)

#9- 50 trillion. JPM is only worth 2 trillion (only) Can you sight a source for those figures please?

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Reply 23 - Posted by: Trigger2, 1/6/2013 5:40:49 AM     (No. 9101073)

These banks are huge donators to the DNC. They´re all donating early to the cause. Get the picture?

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Reply 24 - Posted by: lil dotty, 1/6/2013 6:25:22 AM     (No. 9101108)

King of the Hood strikes again.

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