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NEIL GARFIELD LIVING LIES: Words from Terry Goddard - Arizona Attorney General
Posted on October 11, 2010 by Neil Garfield
“Maybe the banks think we don’t have the gumption to pull the trigger,” Mr. Goddard said.
States Are Pondering Fraud Suits Against Banks
November 3, 2009, 3:45 am
“We tried to use the tool to be persuasive with the banks,” Arizona’s attorney general, Terry Goddard, said in an interview. “But their waterfall of excuses, the abysmal numbers of modifications, tells us persuasion is not working.”
While statutes vary, those of every state prohibit fraud in consumer lending. The attorneys general are considering the theory that the banks essentially perpetrated a vast fraud on consumers by marketing exotic loans that would prove impossible to pay back >>>>Keep Reading