Foreclosure Settlement Details Popping Up in the New York Times - Is a Final AG-Big Bank Deal Done? Should It Be? (Yes.)


This week, Gretchen Morgenson gave lots of details in what looks like a final agreement between the Big Banks, the state Attorneys General, and the Federal Government in her Fair Game column at the New York Times, entitled," A Deal That Wouldn’t Sting."

She would know.

Back in August, Ms. Morgenson (a Pulitzer Prize winner) added another scoop to her resume when she revealed that the Obama Administration was pulling strings to get the New York Attorney General to stop resisting the finalization of the AG -- Big Bank Deal. Ms. Morgenson's investigations turned up several different state Attorneys General -- New York was far from a lone wolf here -- that weren't happy with the deal that was being formed -- mainly because it released the Banks from exposure to any future lawsuits brought against them under various state laws. (For details, check out our August 2011 post.)

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