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IN PROPOSED MORTGAGE FRAUD SETTLEMENT, A GIFT TO BIG BANKS | BUSINESS AGENDA

March 22, 2011

Lurking in a proposed mortgage fraud settlement with the state attorneys general is a clause that could be worth billions for the big banks. Yes, I mean the settlement that might extract the supposedly large sum of $20 billion from the banks to settle foreclosure fraud. The one denounced as a "shakedown" by Sen. Richard Shelby of Alabama. Despite such rhetoric, the settlement might let the banks ...



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