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View Diary: NY Atty. Gen. Schneiderman LOVES Today's Mortgage Fraud Deal. UPDATED x3 Liz Warren Likes it Too! (261 comments)

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  •  I imagine it gives them (0+ / 0-)

    a lower cost.

    Continuing the lawsuit would cost the companies a huge chunk of change, and it could go on for years. It was also negatively affecting their stock prices, and it was really negative publicity.

    By white collar standards, this is a shitty deal for the banks. They are used to paying in exchange for being exempted of all wrong-doing. They didn't get that here. So, they cut their losses.

    "YOPP!" --Horton Hears a Who

    by Reepicheep on Fri Feb 10, 2012 at 10:09:01 AM PST

    [ Parent ]

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