Government's Latest Shakedown: $25 Billion - Today's Outrage

By Christopher Markowski

When U.S. Attorney General Eric Holder and U.S. Housing and Urban Development Secretary Shaun Donovan announced the federal government and 49 state attorneys general reached a $25 billion agreement with the nation's five largest mortgage servicers to address mortgage loan servicing and foreclosure abuses, something is definitely happening on Shakedown Street. This is nothing more than the Feds holding a gun to the head of the largest banks and telling them to empty their pockets. [more...]