Comment: This article is from Matt Weidner’s blog. With the victory in California, we all should be suing the past administrations of our state finances and misuse of the National Foreclosure Settlement money.
I am collecting for the Wisconsin action. More later……
Consumers in Florida were supposed to be “helped” by the National Mortgage Settlement. Instead they were attacked when the judicial system used the money that was funneled to it by the wrongdoers to hire judges and buy equipment that was used to attack them.
The offenses are so grotesque that it could only happen in the context of banks colluding against consumers.
A recent lawsuit ruled that California must pay this money back.
From Housing Wire:
The state funneled some of that money, $331 million, to programs it deemed more in need of attention. It used, rather stole, this money intended for homeowners to give it to someone else.
And on Friday, a judge ruled they have to give it back. Better late than never, but really California, now other states are going to get sued for the exact same thing.
“We’ve identified about a dozen states where it might be appropriate to take action,” said Robert Gnaizda, general counsel to one of the plaintiffs, the National Asian American Coalition, as quoted in coverage from the New York Times’ Gretchen Morgenson.