FROM Bruce Marks
Mortgage Settlement: Homeowner Relief or Break for the Banks? Forty-nine of 50 state attorneys general signed on to a $26 billion deal with five big banks accused of deceptive lending and abusive foreclosures. The banks will have three years to make good on their promise. Even President Obama says, "It's just a start." Others call it "a drop in the ocean," "a paltry down-payment" and "public relations." Will the settlement for abuse and deception come in time to help the economy? We hear from experts and homeowners on the front lines of America's mortgage crisis and find out how it applies here in Southern California.
Mortgage Settlement: Homeowner Relief or a Break for Banks? Five major banks have agreed to a deal that was good enough for 49 of the 50 state attorney's general, but millions of homeowners aren't so sure. Even President Obama says, "It's just a start." Others call it "a drop in the ocean," "a paltry down-payment" and "public relations." It covers only about two million of the 11 million who are under water. Cash settlements for improper foreclosures will be less than $2,000. Banks can still be sued for abuse and deception, and they've agreed to pay $26 billion up front. But negative equity totals $700 billion. Many questions remain about administration and enforcement. We get a range of answers from advocates, bankers and homeowners in distress. (This story was informed in part from sources in the Public Insight Network .)
Is the threat from Russia missing from the Russia meddling probe? There's much being made about the Trump administration's possible ties with Russia. But the bottom line is Russia's effort to influence American democracy. Do the President and his aides care enough to take action before voters go back to the polls?
Who's to blame for the opioid crisis? Some of the lawyers who took on Big Tobacco are now going after Big Pharma. It’s all about the deadly epidemic of opioid use. Are the drug companies to blame? What about the users? Later, on today’s Talking Point: making sense of Britain’s upset election.
Trump's 'America First' goes missing abroad In the Middle East, President Trump is changing some policies of the Obama Administration—and reversing his own campaign attacks on Islam as a religion that "hates us." We hear about his visit to Saudi Arabia and what's at stake for the rest of his foreign excursion.