As we’ve said before, this settlement is yet another raw demonstration of who wields power in America, and it isn’t you and me. It’s bad enough to see these negotiations come to their predictable, sorry outcome. It adds insult to injury to see some try to depict it as a win for long suffering, still abused homeowners.
There’s almost nothing here for the homeowners on a per-person basis. There is a whole lot more in it for the banks, not least the cutting off of serious lawsuits about what appears to be long-established patterns of fraudulent behavior by the banks and/or their agents.