Kamala Harris is key in mortgage settlement with banks
But the key player in the battle to make the banks pay is Harris. California’s catastrophic recession is due above all to the unpayable debts with which the banks saddled entire regions of the state. Harris recognized this in September, when she announced that, like Schneiderman and Biden, she was pulling out of the negotiations because the banks remained uninvestigated and the waiver they were being offered for their possible misconduct was way too broad. In her letter to Associate U.S. Atty. Gen. Thomas Perrelli and Miller announcing her decision, Harris said the agreement “would allow too few California homeowners to stay in their homes…. After much consideration, I have concluded that this is not the deal California homeowners have been looking for.”
Without California’s participation, of course, the banks would never assent to a deal.
The election she won was SO close and we, in this state, are better off for it. I feel the back handed criticism in the article about her merely trying to please her base constituents to be amusing. Isn’t that the kind of behavior we should expect from our elected officials?