Monday, February 6, 2012

Attorney General’s Office
State of North Carolina
9001 Mail Service Center
Raleigh, NC 27699-9001

Mr. Atterney General,

I'm writing to express my concern over settlement for release of liability of the banks for forging documents, "robo signing", and servicing impropriety.

The State of New York is suing these same banks over the use of Mortgage Electronic Registration System (MERS). In addition, these same banks are producing false documentation, or robo signed documentation in foreclosure cases.

There is an article today from Yves Smith of Naked Capitalism which provides further analysis of the settlement, and makes the point the Mortgage Settlement is merely another bail out for the banks (

History will show that shifting private sector losses onto public treasuries will destroy a notion's economy. Bailouts of the banking cartel were wrong in 2008, and they are wrong today. Japan  still suffers from allowing banks to continue to operate after suffering massive losses. Glass-Steagall should be re-enacted and these banks should be forced to realize their losses and not pass them on to private investors.


[Name Withheld]
Raleigh, North Carolina

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