Foreclosure-Gate: 50 State AG's To Bailout Banks and Shaft Homeowners

11-16-2010 • EconomicPolicyJournal.com

Here's what this means: There may be a huge buying opportunity in this sector. The U.S. government will come to the rescue of the banking sector, again. It won't be an obvious bailout, the masses are too on alert, but it will happen. Expect to hear a lot about a "universal settlement". What this means is that the government will throw contract law out the window under the guise of punishing the banks. Instead of each case going to court that should be in court, a" universal settlement" will be reached that will screw the average homeowner facing foreclosure, for the benefit of the banks. The details all aren't set yet, but that is what is being designed. It will protect the banks and limit their exposure from multi-billions to perhaps a billion each. Any major scare that any forclosuregate banks are in trouble, where their stock prices drop, should be considered a buying opportunity.