Warren and the bank hearing

[jsharmon7]

I saw this on Youtube and thought it might draw interest here on INGO. This is apparently a hearing concerning the banking committee:

[ame]http://www.youtube.com/watch?v=2F6YkBa_Tig[/ame]

 

[Mike F]

This is just grandstanding for CSPAN. US Atty's are involved in all settlements.

 

[Destro]

This is just grandstanding for CSPAN.

can you explain?

 

[Mike F]

Most of the cases she is talking about involve violations of consumer protection laws. Those cases are referred to the Justice department for prosecution. The most recent example would be the robo-signing mortgage scandal. Attorney Generals from both the federal and state levels participated in settlement negotiations. Several States opted out of the combined settlement agreement and pursued their own settlement.

Also, banks have an incentive to settle prior to court. Courts tend to rule against them as they are seen as having deep pockets.

 

[Destro]

Most of the cases she is talking about involve violations of consumer protection laws. Those cases are referred to the Justice department for prosecution. The most recent example would be the robo-signing mortgage scandal. Attorney Generals from both the federal and state levels participated in settlement negotiations. Several States opted out of the combined settlement agreement and pursued their own settlement.

Also, banks have an incentive to settle prior to court. Courts tend to rule against them as they are seen as having deep pockets.

im sorry, after re reading your OP, I misread, and thought you said it was grandstanding FROM cspan, not FOR....my bad