Willie, think about it...
who sprung this story? 3 major banks who suddenly, out of the blue, changed their mortgage foreclosure policies voluntarily? A few states attorneys challenging these banks?
This has the look and feel of an October surprise/ambush foiled by imperfect timing. Had this story taken merely one week longer to be raised to the public's attention Obama might have just signed the bill passed secretly and unanimously by both houses and left himself WIDE open for a political assassination nearly on the eve of the midterm.
On the other hand you just know that the prime directive inside the oval office is to capitalize on this within a week for political advantage, Holder's convictions be damned.
There is just no way in hell that this can be allowed to foment into a $40 trillion shakeup of the world's financial institutions after all that effort was spent saving the banks! It is unthinkable.
Back on Earth the CountryWide class action suit alleges extremely serious fraud. Like Madoff level fraud! And worth a trillion easy if all of it is true.
Obama is gonna sweep this away like he did every other problem that beset the financial sector since his inauguration, with the sheer force of unitary exec fiat. That is how he got to be president, by being loyal to TPTB.
But it is possible that he is politically impotent until after the election. For obvious reasons.
But that doesn't stop MoonBeam from causing his own trouble. After all a defunct CountryWide is a perfect sacrificial lamb.
