Seeking Alpha

The Justice Department is reportedly reaching out to various banks to gauge their interest in...

The Justice Department is reportedly reaching out to various banks to gauge their interest in joining a wide-ranging mortgage settlement in the works with five major mortgage servicers. The banks probably includes HSBC (HBC), PNC (PNC), MetLife (MET), SunTrust (STI) and U.S. Bancorp (USB).
Comments (5)
  • User 509088
    , contributor
    Comments (1101) | Send Message
     
    we've developed an attractive array of get out of jail free cards...would you be interested in participating?
    10 Jan 2012, 06:02 AM Reply Like
  • maudie
    , contributor
    Comments (478) | Send Message
     
    Nothing like this 'justice' dept reaching out for you. I'm guessing: Ya, we're 'interested'?
    10 Jan 2012, 09:58 AM Reply Like
  • Hopefull
    , contributor
    Comments (17) | Send Message
     
    These cowardly banks have to stand up against this fed extortion plan. Fouled up paperwork shouldn't get the government $20 billion. This is a rip off of depositors money at these banks as there is no longer a real FDIC guarantee as the FDIC is broke and its borrowing authority from the Fed government just means more debt that we can't afford to repay. The guilty parties are the people who cannot repay and the Federal Reserve and Fannie and Freddie who put this whole housing bubble into motion.
    10 Jan 2012, 11:43 AM Reply Like
  • bricki
    , contributor
    Comments (1099) | Send Message
     
    Did you forget your meds this morning?
    10 Jan 2012, 11:59 AM Reply Like
  • User 509088
    , contributor
    Comments (1101) | Send Message
     
    banks- trusting- they loaned their customers balloon payment mortgages, they never expected they couldn't pay.

     

    public spirited- of their own volition they helpfully set up their own property registry, to take the load off the state.

     

    victims- congress wouldn't pass the act to naturalise their helpful project or indeminify them from those evil and tricky semi-literates holding bad mortgages.
    11 Jan 2012, 08:49 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector