Nevada AG Masto Opposes Provision of Settlement with Big Banks

Masto opposes provision of settlement with big banks

Nevada Attorney General Catherine Cortez Masto on Monday expressed concern over a possible settlement with some of the country’s top mortgage servicers.

Masto told the Las Vegas Review-Journal’s editorial board that she wouldn’t sign any settlement that would grant the banks broad relief from continuing mortgage investigations, especially if it could affect the state’s own civil and criminal investigations.

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One Response to “Nevada AG Masto Opposes Provision of Settlement with Big Banks”
  1. talktotennessee says:

    What the banks really want from AGs is blanket relief from liability from INVESTORS because the level of fraud is more extensive than imagined. We see the tip of the iceberg in the level of fraud because people with knowledge to recognize aren’t looking or don’t care. Many who are not in our situation have yet to realize the housing crash affects them. There are more who will suffer in the future than now recognized. Both political parties are ignoring housing,having moved on to elections,debt, bickering, etc.
    Remember banks do not fear homeowners. We are helpless in this chaos with no one in either party representing our interests or concerns, no collective advocacy other than a few blogs like this one. Housing is the gorilla in the room, but media and people have moved on to new stories.

    Our influence is growing with people now blaming banks for the mortgage mess, but it is an uphill battle. You have only to read between the lines watching B of A implode or at least distance themselves from Countrywide to know the root of the problem is massive. Banks want the media to ignore. Still we have no national resource or entity working for us to push principal reduction or modification other than possibly the AGs but are we their main focus? Have the AGs may be neutered by the same partisan divide that the country is dealing with.

    The housing bubble and crash got us into global chaos but it isn’t being addressed. Reminds me of a story a friend told: He got out of his car in an office parking garage and headed to the exit. A man there was intently looking around for something. My friend asked if something was lost and the man said he couldn’t find his car keys. The friend said, where were you standing when they went missing?The man said, “I was in the garage over there.” Friend: “So, why are you looking out here?” The man said, “The light is better here.”
    Our government misses the point, trying to fix everything but what is broken. Will they LOOK BACK and recognize their error, if they had fixed housing at the start!
    We are still bleeding home values, which will continue for years unless something is done to stop the hemorrhaging.

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