Friday, March 23, 2012

$20 billion 'theft' from investors?



On February 9th of this year the DOJ, other federal agencies, and 49 state attorneys general announced the largest federal and state settlement agreement in history, a 25 billion dollar settlement that took on the big 5 banks for foreclosure fraud. But it wasn't exactly a good deal for American homeowners. New details about the settlement released only last week tell us where the banks could be getting the other 20 billion dollars, and let's just say it doesn't look good for investors. Reason Foundation's Anthony Randazzo explains.

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