Foreclosures and the abuses of the Big Banks are crippling our economy. In neighborhoods like mine and across the state, we’ve seen people underwater on their mortgages and even losing their homes. Even worse, in many cases the Big Banks broke rules, falsified paperwork or defrauded homebuyers—and gambled with our homes to enrich themselves. They have yet to be held responsible.
Families like mine are depending on you to stand up for us and put our needs ahead of protecting the banks. We can’t just let banks get bailed out and escape consequences for their irresponsibility and greed.
I urge you to fight for a strong settlement with the banks that really will hold them accountable for their misconduct and the damage done to the economy. Any settlement must reflect the harm done to homeowners and provide large-scale relief for underwater homeowners. And before you agree to any settlement, there must be a full investigation into misconduct and fraud by the banks.