I think we are on the same frequency, but wonder why your emphasis on “swindle”, for that just what thay govt bailout is. The banks get off the hook CHEAP. They can use the money “lost” from write-downs as payment towards that fine, conceivably meaning no real payment at all.
Dunno about the 1st statement as I have read here and elsewhere of major fraud and corruption by everybody associated with these sales. (Buried in the archives now.)
I concur with the 2nd statement and am in full agreement with the last paragraph.
“The banks get off the hook CHEAP.”
And those who don’t deserve a principal reduction and get one do not “get off the hook cheap”.
The real swindle is as I said - the policy/program should not exist. That’s the swindle.