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Obama: Mortgage deal turns page on reckless era

Thu Feb 9, 2012 12:48 PM EST
politics, us, obama, barack-obama, mortgage, settlement
Associated Press
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WASHINGTON — President Barack Obama says a $25 billion settlement between mortgage lenders and states over foreclosure abuses "will begin to turn the page on an era of recklessness that has left so much damage in its wake."

Obama says the landmark deal between the five largest mortgage lenders and 49 states won't heal the housing market by itself. But he said: "This settlement is a start."

The Justice Department announced the agreement Thursday.

Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial will pay the multi-billion dollar settlement to reimburse American homeowners and overhaul their industry.

The state of Oklahoma did not agree to the deal and will receive no money.

© 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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  • Regions: United States , Washington DC
  • Public Discussion (2)
beachbum12Deleted
wjm5-0

I knew it. The naysayers can't wait to holler "Obama's just campaigning!!!"

Let's consider the facts here:

How long did it take for it come into public knowledge that these mortgages were toxic and would cause the near-collapse of the whole american economy before we woke up from hiding behind Bush's dodge at getting Osama Bin Laden and giving the taxpayers' lifeblood and actual lives away...........to even pay attention to where we were heading?

Wanna say......somewhere between 8 and 10 years? Although by some estimates, it started long before that......maybe even under a trickledown voodoo administration long past dead, but surely not gone........maybe even some twenty or more years long dead, but still stinking up the place.

I have searched high and low, and nowhere do I see or hear anything from the Republicans, either in office, or seeking the presidency, on how to aid this economy and the struggling middleclass. N-O-T O-N-E D-A-M-N T-H-I-N-G!!!!!

Rome was not built in a day.

This is at least a start to even attempt to take a stab at all this damage, and better now than never.I bet none of those who get that $2000 will turn it down, not in this economy.

Something, at this point, is better than the 'nothing' that so-called highly-favored candidate Mitt Romney has offered.

Romney even said let it all fail and let the foreclosures continue to go forth, remember? Just like he said about the auto industry, and we all know how wrong he was about that. And that clown has the nerve to seek the presidency?!!! Unfrickingbelievable!!!

You also neglected to mention what the President said about who would get at least $20,000 in assistance, depending on the pricetag of their upside-down mortgages.

How about the investigative force that will seek out and prosecute the ones who aided in the toxic mess? What?.......no comment on that, either........

I suppose it could take another four years for the President to see the success of any of this, but I bet not even you, if you admit it, want to take a chance on any of those fools running on the Republican ticket. Keeping women from having any say so over birth control is all they want to talk about. The Pope and the Church do not vote....the voters do. 'Nough said on that.

Oh wait........that just "Barry's' way of upping the deficit spending!!!!

No......that can't be true, can it?

I thought I read where the big banks will pay the money......oh yeah........I did.

What's all this about Obama being the enemy of Corporate America....? What was that $3 million dollars that Boehner spent when he first took over as Speaker in an attempt to stop all the new finance regulations that will stop the moneychangers from eating us alive?

A COMPLETE AND TOTAL WASTE OF OUR TAXPAYER DOLLARS.......and still have the nerve to claim fiscal responsiblity?!!!!

If you're gonna talk about something, talk......and tell the whole story..........don't just sit back and throw out talking points. We truly have had enough.

    Reply#2 - Thu Feb 9, 2012 7:17 PM EST
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