Today's Exercise In Wristslapping: Full Text Of Toothless Draft Banker-Regulator Settlement

Tyler Durden's picture

We haven't read the whole thing. We probably won't. In essence banks promise to never engage in robosigning. Atualy monetary penalty - none! With every bank signing this form of agreement, the administration can again say all is well, and people can go back to purchasing mortgages whose notes are forever lost in the black hole that is multi-trillion bank fraud. But don't worry: they promise to never do it again.

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h/t MM