{"id":184709,"date":"2012-02-08T22:17:00","date_gmt":"2012-02-09T03:17:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2012\/02\/08\/the-foreclosure-sellout-settlement-is-getting-weird\/"},"modified":"2012-02-08T22:17:00","modified_gmt":"2012-02-09T03:17:00","slug":"the-foreclosure-sellout-settlement-is-getting-weird","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2012\/02\/08\/the-foreclosure-sellout-settlement-is-getting-weird\/","title":{"rendered":"The Foreclosure Sellout Settlement Is Getting Weird"},"content":{"rendered":"<p>I missed it, but the New York AG <a href=\"http:\/\/www.marketwatch.com\/story\/new-york-ag-cancels-bank-settlement-statement-2012-02-07\">canceled a press conference about his position on the mortgage\/foreclosure fraud settlement at the last minute<\/a>:<\/p>\n<blockquote style=\"color: blue;\"><p>New York Attorney General Eric Schneiderman late Tuesday postponed a much anticipated conference call with reporters that was set up to announce whether the state would participate in broad a settlement with five big banks over foreclosure practices. Schneiderman, who is co-chair of a new mortgage fraud task force, told reporters in late January that he was not ready to participate in state settlement negotiations. Observers had speculated that he might announce his participation.<\/p><\/blockquote>\n<p>This is happening despite the <a href=\"http:\/\/www.blogger.com\/New%20York%20Attorney%20General%20Eric%20Schneiderman%20late%20Tuesday%20postponed%20a%20much%20anticipated%20conference%20call%20with%20reporters%20that%20was%20set%20up%20to%20announce%20whether%20the%20state%20would%20participate%20in%20broad%20a%20settlement%20with%20five%20big%20banks%20over%20foreclosure%20practices.%20Schneiderman,%20who%20is%20co-chair%20of%20a%20new%20mortgage%20fraud%20task%20force,%20told%20reporters%20in%20late%20January%20that%20he%20was%20not%20ready%20to%20participate%20in%20state%20settlement%20negotiations.%20Observers%20had%20speculated%20that%20he%20might%20announce%20his%20participation.\">full court press from the Obama administration for this deal to go through<\/a>.<\/p>\n<p>The sticking point appears to be <a href=\"http:\/\/www.washingtonpost.com\/business\/economy\/proposed-settlement-with-banks-over-foreclosure-practices-dealt-a-setback\/2012\/02\/07\/gIQAvA8fxQ_story.html\">the MERS lawsuit<\/a>, and the banks want this dropped before they sign off on any deal.<\/p>\n<p>I think that this delay is a good thing because:<\/p>\n<ul>\n<li>The deal is basically another bailout for the banks.<\/li>\n<li>As it gets nearer to the election without a deal, the more it becomes likely that the Obama administration will be forced to go after them for electoral benefit, as opposed to<a href=\"http:\/\/www.nakedcapitalism.com\/2012\/02\/mortgage-settlement-wrangling-continues-banks-balking-at-schneiderman-mers-suit.html\"> just going after some small fry<\/a>.<\/li>\n<\/ul>\n<p>This should get interesting.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I missed it, but the New York AG canceled a press conference about his position on the mortgage\/foreclosure fraud settlement at the last minute: New York Attorney General Eric Schneiderman late Tuesday postponed a much anticipated conference call with reporters that was set up to announce whether the state would participate in broad a settlement &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970,1004,972,1088],"tags":[],"class_list":["post-184709","post","type-post","status-publish","format-standard","hentry","category-corruption","category-finance","category-justice","category-real-estate"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/184709"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=184709"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/184709\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=184709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=184709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=184709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}