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Finally! Five Major Banks Sued For Foreclosure Fraud

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View Ratings | Rate It Headlined to H2 12/6/11

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Image uploaded from a quicklink It started when NY's AG Eric Schneiderman refused to sign off on Obama's 50 state immunity settlement with the five major mortgage servicers at the heart of the U.S. foreclosure crisis. Others AGs joined the maverick AG in CA, DE, NV, MA and MN in saying no to a pennies-on-the-dollar immunity deal. CA's Kamala Harris began a subpoena process in her state where foreclosures are epidemic - but now Massachussetts AG Martha Coakley has begun to do something rare and incredible, going after five large banks with real prosecution.

Covered in the financial press, this item is widely glossed over by networks media so far. But FDL notes Treasury, CFPB and TARP Investigators have announced a task force to go after penny-ante scam artists selling bogus HAMP modifications.

Don't go for the shell game folks - this is one big achievement for #OWS.

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