[Shanty Shaker]

The administration indicated it would not use the justice system to block the settlement proposed by the banks. That is not what most of the posts on this thread miss.

This a proposal by the banks to limit the expected losses.

[DB]

Thanks. That confirms what I’ve been saying that I thought was the likely reason for treasuries involvement.

[nj_pilot]

The administration indicated it would not use the justice system to block the settlement proposed by the banks. That is not what most of the posts on this thread miss.

Or, looked at another way... the government has said that it will not enforce anti-collusion statutes as the mortgage servicers act in concert to benefit their servicing biz. What you seem to be missing is that this has little to do with mortgage owners, who are for sure screwed in this scheme.