Saturday, February 11, 2012

No settlement document here!

Federal Government & Attorneys General reach landmark settlement with major banks | NationalMortgageSettlement
This is the web page for the magic disappearing settlement. See for yourself. As of February 11, 2012, two days after the big deal was announced, there is no settlement document to be found. Why? (see below)...

The Obama administration and the banks did the publicity blitz, and the press dutifully covered it to death, and the pundits pontificated, without the actual terms being part of the discussion. We just had a huge media frenzy over something that we can't really scrutinize. Why? Perhaps because the banks are going to get a much better deal than advertised, and they don't want the public to know. When the real settlement document is released, the deal will be old news and won't get much coverage.

That's my speculation. What's yours?

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