Goldman Gets Off Again - Fed Caves and Lets Goldman & Morgan Off The Hook in $577M Mortgage Deal

Statements from Home Defenders League and Campaign for a Fair Settlement:

“Today’s bad deal is pittance compared to the wreckage still being caused in our communities and the profits reaped by Goldman, Morgan and other financial institutions the expense of homeowners,” said Vivian Richardson, a local leader for the Alliance of Californians for Community Empowerment (ACCE) and spokesperson for the of the Home Defenders League, a national organization fighting foreclosures. “Goldman is being asked to pay less than a fifth of their earnings for one quarter as restitution to American homeowners for the damage they’ve done. We can only hope that this settlement is handled in a way that gets the money to those who need it most, quickly.”

“In recent weeks we’ve seen the DOJ let banks off the hook, the SEC let banks off the hook, the OCC let banks off the hook, and the Obama administration do nothing,” said Brian Kettenring, Coordinator of the Campaign for a Fair Settlement. “Now its the Fed’s turn, on the same day that Goldman announced quarterly earnings five times what they are paying in assistance to homeowners for years of destruction. Worse yet, they’ll likely be able to deduct those payouts on next year’s taxes. The continued drumbeat of ‘banks win again’ has to end – someone has to hold mortgage offenders like Goldman and Morgan Stanley accountable.”

Here’s an Associated Press story on this new settlement.

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  • commented 2013-12-25 23:22:12 -0800
    Thank you
  • followed this page 2013-05-12 09:18:14 -0700