Banks Avoid Liability In 49-State Foreclosure Fraud SettlementFebruary 09, 2012 "FDL" -- Forty-nine states, every one but Oklahoma, as well as federal regulators will participate in a foreclosure fraud settlement that will release the five biggest banks (Wells Fargo, Citi, Ally/GMAC, JPMorgan Chase and Bank of America) and their mortgage servicing units from liability for robo-signing and other forms of servicer abuse, in exchange for $25 billion in funding for legal aid, refinancing, short sales, restitution for wrongful foreclosures and principal reduction for underwater borrowers. The announcement will be made on Thursday.
Broken Spring? : Information Clearing House This is a sequel to my June 2011 article, ‘After the spring’, on the upheavals in the Arab world. It is an article that has been painful to write, because it brings bad tidings and offers a pessimistic analysis of the upheavals, at least in the short term, in a number of Arab countries. The outcomes and potential outcomes of these uprisings have also acquired new, very significant dimensions. These include a complex entanglement with the accelerated preparations for a possible attack on Iran, and a poisonous, sectarian aspect that could have the consequence of ripping Syria and the Middle East apart.
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