This isus jt a short update. I have just been informed that the Attorneys General of the states who were ready to do a terrible deal with the Big Banks, as mentioned in a previous post, have had a change of heart. They’ve shelved the give-away to the banks in the face of MASSIVE PROTEST. No, people weren’t demonstrating in front of their meeting room, though that might be a good idea if I had any idea where it was. It was simply an avalanche of protesting emails, letters and phone calls.
From what I understand, no new deal has been discussed. Simply, the $20-billion giveaway has been quietly laid to rest. It’s really shocking to me that this deal could’ve progressed so far in the first place.
How could these various Attorneys General not realize how angry the populace is over the bad behavior of the Big Banks? How could they possibly think that regular citizens who lost their homes to foreclosure because of the irresponsible lending policies of the Big Banks would think it was fine to allow the banks and their executives to make off with trillions of dollars and then let them off with a mere $20 billion to be shared among 50 states? How could they not realize that people who lost their retirement dreams as their pension funds and 401ks crashed because of the behavior of the Big Banks would not think such a deal was a fine thing? How could they not realize that every single homeowner in America whose home has lost value or whose home is actually underwater puts the blame squarely on the Big Banks?
Luckily, Eric Schneiderman, Attorney General of New York, was not asleep at the switch as so many of these others appear to have been. Were there others who noticed? I don’t know, but I would like to think that Kamala Harris, Attorney General of California, took an active role in putting this terrible deal in the trash bin.