Where is the forclosure bank deal money going?

[Garry Sorrells]

Where Are the Foreclosure Deal Millions Going in Your State?

As part of the mortgage settlement finalized in April, 2012, the five biggest banks agreed to pay $2.5 billion to 49 states and the District of Columbia.



List of amount by state and where state is putting it.



http://www.propublica.org/special/where-are-the-foreclos (http://www.propublica.org/special/where-are-the-foreclosure-deal-millions-going)
ure-deal-millions-going (http://www.propublica.org/special/where-are-the-foreclosure-deal-millions-going)

[Garry Blankenship]

Mortgage settlement ? What does that mean ? Why are banks producing $ 2.5 billion ? What tangible guilt or law violation did they engage in that would induce them to fork up $ 2.5 B , as redress ? Did they create this credit fault swap derivitive thing ? Not acusatory questioning - - - I just am not understanding.