I agree. Which is also why this suprises me somewhat. If the banks were to fight back for real then politically this could be very bad for the dems.
This entire lawsuit seems as if it would make the entire housing/banking political debate totally front and center going into the election cycle.
The Obama administration must want that thinking though that this will allow them to make the election about a period of time that Bush was President so that they can try to bring back the propaganda of ‘Blame Bush’ without seeming hung up on it. They obviously feel that it was the ‘blame Bush’ propaganda that largely helped Obama get elected and feel that they need it again.
I feel that they may be making a really huge mistake though. Biting off much more then they can chew.
You know, that if this works, the banks will just raise interest loan rates, fees, etc, so effectively it’s a tax. Just like everything else.
Wonder why people in Japan have phones that stream TV for $20 a month? Their government considers bandwidth a public resource that they license to the best and most capable organization that can help the public to use it.
We have “government auctions”...phone companies don’t care if they pay tens of billions for it...because they know that the customers will just have to pay it.
Bottom line, the money has to come from somewhere...namely, your wallet.