Banks and government near settlement on mortgages: What does It mean?
January 23, 2012
Media reports indicate that banks are poised to reach a settlement with the federal government and state attorneys general over bad mortgage lending practices. Headlines focus on the topline dollars involved—up to $25 billion, according to most accounts. Negotiations have been ongoing for months, and the details are so complex that the implications—legal, economic, and political—can be hard to decipher. Here’s my take:


