Abigail Field | Hey AGs: Banks Aren’t Credible Negotiating Partners


Hey AGs: Banks Aren’t Credible Negotiating Partners

As reports of a 50 state AG settlement negotiation with the big banks continue to surface, the big mystery to me is why the AGs think they have good faith negotiating partners in the banks. I mean, the Nevada AG sued BofA for “almost immediately” violating, in basic and profound (“material”) ways, a settlement agreement that BofA negotiated and signed with attorneys general over Countrywide’s practices. Nor is that blatant settlement fraud by BofA the only sign the banks aren’t credible enough to talk to.

How about the consent decrees with their wholly captured regulator, the Office of the Comptroller of the Currency, that promised an end to robosigning/document fraud? Journalists willing to actually look at public records have easily documented that the banks’ document fraud continues, despite the consent decrees. The banks’ bad faith shows up on the microscale too; individual homeowners can’t trust that banks say what they mean. For starters, homeowners can’t trust the banks when they say “don’t worry about the foreclosure notices, we’re considering you for a modification…” But homeowners also can’t trust banks when they sign formal settlement agreements either.

In short, everyone should see the banks have no credibility; any settlement they sign is likely not to be worth the paper it’s written on. Unless such settlement has teeth unlike anything proffered to date, negotiations are a waste of time. And yet the negotiations continue, and the reports about them continue to take the negotiations far more seriously than they should.

Check out the rest here…



6 Responses to “Abigail Field | Hey AGs: Banks Aren’t Credible Negotiating Partners”
  1. Tim Bryant says:

    For as much as I hate the banks, they seem like the only smart kids in the room, during these talks.

    • lvent says:

      There is an unbelievable amount of corruption and treason from within….they are either on the take or a member of the ruling elites big club of fraud….

  2. lvent says:

    Oh and by the way they committed massive fraud in our names, 40 trillion in mortgage debt backed by ZERO… to put it simply that is just massive collateral fraud…and unsustainable debt……There are not enough homes and property to collect to keep this ponzi scheme rolling….They never securitized these loans because they were never given to us…….they never lent us any money…..we never got a check at the closing…..to pay anyone..WE LENT THEM OUR SIGNATURES TO GAMBLE OFF OF, THAT IS WHAT THEY DID…..THIS WAS ALL DONE BY CREATING TRILLIONS OF FRAUDULENTLY INDUCED DEBT…AND…DIGITAL FAKERY……….They dumped these toxic UNSECURED loans in a Global Pool WAY TOO LATE.THEY GET MAX 90 DAYS FROM CLOSING……WHY? BECA– USE THE FRAUDULENT LOANS are BACKED by ZERO…..RESCIND THE FAKE LOANS ASSHOLES…AND GIVE US CLEAR TITLE TO OUR HOMES….WITH MONETARY RESTITUTION FOR ALL OF THE HELL THAT YOU CA– USED….AND GO FIND A LEGITAMITE WAY TO MAKE MONEY…..

  3. Stupendous Man - Defender of Liberty, Foe of Tyranny says:

    An outstanding piece from Abigail Field today. As I’ve been saying for years the banks will only follow the law/negotiate in good faith if there is already a gun pointed to their heads (figuratively of course.)

  4. housemanrob says:

    ……should be …..zero deals or settlements with these bankster thieves and terrorists. Hang them all!

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