On the recordFebruary 9, 2012
I think what's going to happen with this is, even though over a million homeowners are likely to be helped and several hundred thousand get some recompense, maybe an average of $2,000 per household, what's going to happen is it's going to precipitate more foreclosures as the system continues to progress. And that is a deep concern of mine because these banks have not been noted for treating customers well. According to the Justice Department, however, the agreement does not prevent any claims by individual borrowers who wish to bring their own lawsuits. And I think it's incumbent upon lawyers across this country, our Progressive Caucus, to look for legal remedies to continue to gain sweet justice for those who have been so harmed.
