Bloomberg | Bank of America Said to Target Individual States to Block Foreclosure Deal


Bank of America Said to Target Individual States to Block Foreclosure Deal

Bank of America Corp. (BAC) was accused by a top official at the Iowa attorney general’s office of engaging in a divide-and-conquer strategy by undermining support for the settlement of a nationwide probe into foreclosure practices, a person familiar with the matter said.

The bank tried to get attorneys general to break away from those supporting the proposed accord, Iowa Assistant Attorney General Patrick Madigan said during a recent conference call, according to the person. A second person familiar with the settlement talks said the bank sought to sow dissent among the states, eight of which have publicly criticized the proposal’s terms. Both people asked not to be identified because the talks are private. Madigan declined to comment.

“We have held face to face negotiating sessions and our negotiations continue,” Iowa Attorney General Tom Miller, a Democrat who leads the 50-state effort, said in a statement. “We believe all the banks are negotiating in good faith.”

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12 Responses to “Bloomberg | Bank of America Said to Target Individual States to Block Foreclosure Deal”
  1. Katheryn says:

    Mr. Miller

    Bank of America would not know what “negotiating in good faith” is even if it jumped up and bit them on the nose. I know from lots of experience. Even the attorneys representing them forget all about “good faith and fair dealings”. When you wallow long enough in a pen with smelly pigs you then become smelly also.

  2. Ron Moss says:

    Where do the banksters get their authority from which part of the constitution? Where I read it says. “Congress shall have power to coin money and regulate the value thereof” then back in 1935 Thr supreme Court ruled.
    “Congress cannot abdicate it’s duty” So Where do the the banks fit in?

  3. Sandra says:

    As a former Iowan, I’m dismayed that after IA AG Miller received massive corporate bankster/lawyer donations from out of state in anticipation of his position in the “fighting bankster fraud” probe, he now suddenly has gone fraud-blind. Shame on you Mr Miller. You are elected as a servant of the People, not corporate criminals. You have abbrogated your responsibilities.

  4. leapfrog says:

    “We have held face to face negotiating sessions and our negotiations continue,” Iowa Attorney General Tom Miller, a Democrat who leads the 50-state effort, said in a statement. “We believe all the banks are negotiating in good faith.”

    Miller is a bankster shill. I hope the voters in Iowa cast him out next election. “Banks negotiating in good faith.” What a joke. At least Patrick Madigan, someone in Miller’s own office, “gets it.” Miller will probably fire him for interfering with his precious banksters.

  5. James Aitken says:

    Ya know folks, I fight this battle 7 days a week. With each new client’s story I find it hard not to break down myself while I watch a single mother of 2 cry her eyes out.

    To that end, I am freaking over this. PROSOUCUTE THESE ASSHOLES AND DO IT NOW!

    Some days I read that the criminals that wrecked this great nation are going to answer for their crimes. 2 days later, not a peep. 7 days later, well we are going to negotiate.
    The cold hard fact is we are in serious trouble and the ones in power to stop the crimes are doing ABSOLUTLY NOTHING but saying “were gonna”.

    • housemanrob says:

      Without powerful leadership……….with great power and cash…… equal the playing field…………..we are truly in deep shit! Because if you leave us alone to cool off, we medicate ourselves into a what problem?

      • James Aitken says:

        How can “We The People” fix this?

        I am worn thin this week. Nothing a good night’s sleep won’t fix although it is getting to me this week.

        How and what can we do? Pick up arms? I mean, we have tried to use our legal system and while we have made great progress in the last year, the problem(s) are not showing any sign of correcting themselves.

        I have developed software to track the modification or short sale process. This keeps the scumbag banksters to the time lines in the HAMP Directives. This has proven highly successful.

        I also developed the relationships to allow my office to run the “NPV” model which is used to determine several things but most important it is the SAME model used by the banksters (when they even run it or run it accurately) to determine your eligibility for a HAMP Mod. It also shows the value the banksters must take in a short sale.

        I want to puke every time I read a letter stating “We (the banksters) want to Help”. I say BULLSHIT.

        Mr. Bankster, if YOU “Want to Help” my clients stay in their home WHY do you lie to me, loose documents and flat out waste my time?
        Why do you hire uneducated, pompous, and arrogant idiots? These asshats act like they are god when I know they pull down $10.00 bucks an hour and no ABSOULTLY NOTHING about mortgages.
        They are however, very skilled in lying and trying to control the call. I piss them off as I will always control the call when speaking with these scumbags.

        Another piece of bullshit is this… To add insult and to intimidate the homeowner, the banksters send out what we call “Cock Roaches” They take pictures inside windows of occupied homes, leave very intimading envelope with large RED font “Personal and Confidential” on my homeowners door and for all to see. What is the purpose of this? Why in God’s name would you want to treat someone that way.

        This is why I am especially fighting mad this week.
        I spoke with a good friend this morning and asked, what else can we do?

        While I do not condone violence, I am beginning to believe it is the ONLY way.

        Thanks for reading my rant!

      • see says:

        @James Aitken. There will be a day when someone (the banks hired hands) is going to get killed by a homeowner as they see peope peering in their windows or change the locks. I am surprised that this has not happened already. We have no law in this country anymore. Our service men and women are not dying for the American people in the fight overseas, they are dying so that the banks, Wall Street and however can steal homes and destroy people’s lives. I lost my home to foreclosure and I am ashamed to say that I did not fight for the home. I could not afford the payments anymore because of job loss. I was brought up to face up to your financial responsibility, you can’t have what you can’t afford. Now after looking and doing research I found fraud from the beginning to the end. We all know that the judges, AG Offices, banks, etc know what has happened here. It is all ignored because the banks have take been calling the shots. Although I do not believe in violence, maybe it is time that we the people show we have the guts to stand up to this total disregard for the American people. This is not the home of the brave, it is the home of the banks and theives. Keep up the fight because there are people who are behind you.

      • See,

        Thank you so much, I truly care about my clients and my community.
        Like you, I was brought up to honor my debts.

        This crisis IS NOT YOUR FAULT!

        Your kind words made my day and I offer my heartfelt thank you!

      • l vent says:

        I think that the full intention here of the U.N./ NWO was that We The People would never own these homes and the investors would never own shit and the pension holders would not have that security. This is all about freedom more anything and that is what they really stole when they set us up to fail, defrauded and robbed the American people, They really want the people to own nothing but debt. That is why they did what they did and now no one is safe whether they realize this or not. There is really no security in anything. Not our Government, our jobs, our pension funds, our homes, our currency. I can really see no other explantion for all this. Yes this made these elite bastards filthier rich than is even imaginable but I think this is really more about world domination. This could have never happened to America without the inside help of treasonists working from within. The U.S. Government let us down. Time to throw them out. The 2 party system is now a corrupt sham. It has cancelled itself out under the laws of the U.S. CONSTITUTION and is now irrelevant because the U.S. GOVERNMENT has become completely corrupt and is now a fascist tyranny that opresses its own people. This is why we have the right to bear arms to protect ourselves from a Government tyranny.

      • TheHutMaster says:

        To ALL. James has moved in my net name THEHUTMASTER
        Same guy just a bit of coverfot forthcoming rants.

        Dear housemanrob,

        I know man.

        As I have said all day, I learned of shit this week that has me in a tail spin today.

        For years, I have predicted outbursts. I am sure now.

        I sit in the weekly Treasury conf calls. Several weeks ago, there was an “out of phase call” It was run by FEMA and discussed how we handel our business durring “National Desaster”.

        While at the time, I was confused at WHY this call was scheduled.. Well folks, I learned this week WHY.

        We ALL need to form our group of ALL the folks we can. If not, we are dead.

        “Fight The Good Fight”

  6. l vent says:


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