The Woman Who Stood Alone Against the "Thieving Banks"
How Kamala Harris played hardball and won $18 billion to help California homeowners
February 13, 2012 (San Diego) – Last September, the U.S. Department of Justice and attorney generals from other states were ready to sign a multi-state settlement of misconduct by banks that resulted in foreclosures. The deal on the table? An estimated $4 billion or less for California, the state hardest hit by the foreclosure crisis. Moreover, no wrongdoers would be prosecuted.
So California’s Attorney General Kamala Harris stood up—and walked out.
Her actions led to a dramatically different settlement reached last week that is expected to ultimately reach $40 billion—including an estimated $18 billion for California and $1.5 billion for San Diego homeowners.
“I will tell you that’s 900 percent more than the crumbs the were putting on the table,” Harris told delegates at the California Democratic Convention in San Diego on Saturday. Under the settlement, prosecutions can also be filed to hold banking industry representatives criminally liable for their actions. "You know, I used to be a prosecutor," Harris said, flashing a knowing smile.
Full story:
http://www.eastcountymagazine.org/node/8708
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