Whatever you think about the $25 Billion dollar Mortgage Settlement ... we can probably agree that this piddling settlement amount, which divvies out to "checks for $1500-$2000" in some cases of foreclosed homeowners -- is NOT as Fox Script-readers put it:
"A Deadbeat Bailout"
...
Right-Wing Media Respond By Attacking Struggling Homeowners As "Deadbeat[s]" ...
Fox & Friends Calls Settlement A "Deadbeat Bailout." During the February 10 edition of Fox News' Fox & Friends, co-host Steve Doocy teased a segment on the foreclosure settlement by saying:
DOOCY: Welcome, ladies and gentlemen, to the "fairness era." The president of the United States announcing his new plan that takes your hard-earned money and gives it to people who don't pay their bills. Is that fair?
During the segment, on-screen text stated, "Deadbeat Bailout." [Fox News, Fox & Friends, 2/10/12]
There is much more on the latest Fox
"we love the Banks" sloganeering, over at Media Matters, including examples of Foxaganda myth-making about a "
Pseudo-Foreclosure Scandal," all because some Banks had some
"Sloppy Paperwork Practices":
"Deadbeat Bailout": Right-Wing Media Attack Struggling Homeowners, Whitewash Alleged Foreclosure Abuse
Media Matters -- Feb 10, 2012
Only the Foxsters could spin the Banksters as "the victims" on this one, folks
... of course if that's what the script says, what are they gonna do ... improvise? Hah!
If the Five Big Banks were so put out by the "Parking-Ticket" settlement amount, then how come those same Bank Stocks are the hottest ticket on Wall Street, lately?
Have big bank stocks finally turned a corner?
by Paul R. La Monica, CNNMoney -- February 9, 2012
Five big banks are forking over $26 billion to states and consumers to settle the robosigning foreclosure mess. You'd think that would be bad news for the four publicly traded banks that were part of the deal.
But investors largely shrugged off the news. Bank of America (BAC, Fortune 500) was up slightly Thursday, continuing its 2012 hot streak. Shares of the beaten down lender have surged nearly 50% so far this year.
[...] the big banks are cheap with good reason. There are numerous legal risks -- mostly tied to the mortgage business -- as well as concerns about European exposure.
Thursday's settlement takes away one legal headache.
"This removes one cloud that has been overhanging the bank stocks. We at least now know what the cost of the settlement is. You have to view that as a positive," said Frank Barkocy, director of research with Mendon Capital Advisors, an investment firm that focuses on financial stocks.
On the plus side however, as Eric Schneiderman
points out, the Bank settlement requires Banks to
"renegotiate" with "underwater homeowners":
[...]
Schneiderman says any homeowner who owes more to one of those banks than his or her home is worth, should expect the bank to get in touch:
[Schneiderman:] The banks under this deal have an obligation to contact every underwater homeowner in the US, and we know there are thousands in the North Country, and try to renegotiate the mortgage.
And many whose banks foreclosed on them between 2008 and 2011, will also get checks for $1500-$2000.
[...]
[Schneiderman:] We carved down the immunity banks get in return for the [payments] to a narrow set of issues. So the good news is this provides some relief, and the better news is it preserves [Attorneys General's] rights to go after the banks for much more relief, and it preserves the ability of all homeowners to seek relief.
So the "immunity"
is real for specific robo-signing abuses, but
it is also limited in scope of what Bankers will be able skate on ... Given the
"liability door" left wide open to capable lawyers to go after them.
Homeowners may be getting the last laugh on the Banks afterall, before it is all said and done ... whether the Fox-bullies, call Homeowners "Deadbeats" or not, just for wanting to see Justice done.
-- THAT would be beginning the real "fairness era" ... Steve Doocy's sensibilities, notwithstanding.
The era of "real economic fairness", begins the day a long line of guilty 1% Bankers actually start to see jail-time for scamming America's most personal of personal assets -- our homes. And making hundreds of billions doing it -- securitizing our futures to the highest bidders.