The banksters might be paying for one of their many illegal or immoral practices:
Analysis: Mortgage probe may open new path for housing relief
By Aruna Viswanatha and Rick Rothacker | Reuters – 3 hrs ago
Five major banks could be required to commit roughly $15 billion to reduce principal balances for struggling homeowners and modify loans in other ways under a proposed deal to settle allegations linked to the "robo-signing" scandal.
Under a potential settlement, the five banks -- Bank of America, JPMorgan Chase, Citigroup, Wells Fargo, and Ally Financial -- would have to meet dollar targets to reduce principal for underwater borrowers.
The REALLY bad news is that the Democrats on the deficit super-commission have turned into Baggers:
Democrats Offer Significant Concessions
Plan Is to the Right of Bowles-Simpson and Gang of Six
By Robert Greenstein, Richard Kogan and Paul N. Van de Water
CBPP
Revised October 28, 2011
The Democratic plan contains substantially smaller revenue increases than those bipartisan proposals while, for example, containing significantly deeper cuts in Medicare and Medicaid than the Bowles-Simpson plan. The Democratic plan features a substantially higher ratio of spending cuts to revenue increases than any of the bipartisan plans.
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