Because Warren Buffett needs to loot the taxpayers while claiming other rich people don't pay their "fair share".
US taxpayers are expected to subsidise the $40bn settlement owed by five leading banks over allegations that they systematically abused borrowers in pursuit of improper home seizures, the Financial Times has learnt.
The deal, agreed last week, calls for Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial to pay about $5bn in cash fines and to reduce monthly payments and loan balances for distressed US borrowers by as much as about $35bn.
Friday, February 17, 2012
US taxpayers to subsidise $40bn housing settlement
The Financial Times reports:
