I just received my check from the mortgage fraud settlement agreement.
My particular mortgage provider paid a total of $10.9 billion in settlements. This seems large until you consider they were provided $1.3 trillion in bailout money since the 2008 economic meltdown created by other reckless practices from this institution.
This economic collapse precipitated my layoff, months of unemployment, a significant reduction in my income when I found work again, and to my home’s foreclosure. At least the $600 settlement check provides some level of justice.
Now I find out that this institution was implicated in last year’s Libor interest-rate scandal and another related manipulation of interest-rate swaps called ISDAfix.
This time the criminals should go to jail rather than writing a check with the money they stole.