States May Sue Banks.....

booggs28 · 11-03-2009, 10:01 AM

States May Sue Banks For Fraud Over Mortgage Crisis

caldwellb02 · 11-03-2009, 10:14 AM

I love it I love it. CA isn't on that article, but our AG did just send a letter to all the banks regarding complaints...

Believe · 11-03-2009, 10:15 AM

IT'S ABOUT TIME! Thank you for posting this article, Booger. Go after 'em, attorneys general. You've got our support.

nativelasvegan · 11-03-2009, 10:20 AM

This is REALLY good. I will be sending a copy of the New York Times article to my AG today. Thanks for posting this.

bloominga · 11-03-2009, 10:32 AM

I'm sending it to my AG in Georgia now. They are in session. We only meet for part of the year. If anything is started it needs to be now in GA so they don't go back home and forget about the rest of the people in the world.

mimirayo · 11-03-2009, 11:02 AM

The problem is that the biggest banks who caused most of the problem will still get away with it because of "federal preemption". They play by a completely different set of rules.

They should make the rules for a "federal bank" tougher instead of easier. If, for instance, your state is VERY harsh and has strict guidelines on predatory lending, but the federal government doesn't...they claim they are exempt from following the harsh state rules because they are governed federally.

That being said, this kind of action, may lead to stricter standards and I would LOVE for it to make some heads roll!

caldwellb02 · 11-03-2009, 11:06 AM

I just sent it to the CA Attorney General. Can't hurt. Keep em rollin. (heads too

)