Un-examined consequences: Foreclosure Settlement Falls Short, Still Worth the Wait: View - Bloomberg

Foreclosure Settlement Falls Short, Still Worth the Wait: View - Bloomberg


In the above-noted article, Bloomberg asks "...whether prosecutors got a good deal rests on the answers to three questions: Does it hold the miscreants accountable? Does it make victims whole? And does it prevent similar misconduct in the future?"

Aren't we missing a major question here - i.e. "Is this a net-positive game of 'gotcha' for society and the economy as a whole?".

In this regard, the other miscreants (Fannie, Freddie, the rating agencies, Congress, regulators, the average mortgage borrower, etc.) are being exculpated and the incentive to be an even more conservative lender in an economy where the government is printing money would all seem to be issues which should be put before readers.

Bloomberg is clearly not alone in staying with the tried and true news line that appeals to populist sentiment - but, one can hope for other questions to be raised.