CA Attorney General Kicks Banks in the Balls
The decision Friday is a major setback to negotiations that had been backed by the White House and dozens of national officials. The 50-state coalition, of which Harris had been a lead member before Friday, has come under fire for potentially letting off banks that include Bank of America Corp. and JPMorgan Chase & Co. too easily.
Harris said the nation’s five largest mortgage servicers were not offering California homeowners relief commensurate to what people in the state had suffered. She also objected to the banks’ demands that they be granted broad release from further investigations into Wall Street’s role in the mortgage meltdown.
“I have decided that we have to go our own course and take an independent path, and that decision is because we need to bring relief to Californians that is equal to the pain California experienced,” Harris said in an interview with The Times on Friday. “What is being negotiated now is insufficient.”
She just barely won her election and we are much better off for that fact. Much love to Ms Harris.