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If someone borrowed your car and wrecked it, would you just hand over your keys the next time they wanted to use it -- no questions asked? No. But that's what U.S. Attorney General Eric Holder and a number of state attorneys general, including Washington state Attorney General Rob McKenna, are on the verge of doing with Wall Street banks.
Documents obtained by the media indicate they are close to signing a deal that would let the Wall Street banks most responsible for the subprime mortgage crisis off the hook with nothing but a slap on the wrist -- letting them get back to business as usual without any real reforms or accountability.
That's wrong, and I need your help to stop it.
Sign my urgent petition to AG Holder and Rob McKenna -- tell them not to let Wall Street off the hook for running our economy off the road.
Here's what this bad deal would mean:
- Wall Street banks would get blanket immunity in exchange for a rumored lump sum payment of $25 billion.1 That's a fraction of what the mortgage crisis has cost homeowners nationwide and nowhere near an appropriate amount to create a fund to assist homeowners.
- An end to investigations into further wrong-doing by banks. This crisis was years in the making. Stopping now means we won't understand how banks and mortgage companies took advantage of families and investors, won't punish those responsible, and won't be able to make sure it never happens again.
Sign my urgent petition to AG Holder and McKenna now. Tell them not to let Wall Street off the hook for running our economy off the road.
The lessons of this financial collapse are not that the banks should get a free pass to do what they want. We need a tough cop on the beat that enforces the rules of the road. The rules must be clear, and people who break the rules should be held accountable.
This deal accomplishes neither of those things.
Sign my petition now, and let these attorneys general know that you oppose this Wall Street giveaway.
Our families and neighbors deserve a fair settlement that includes holding companies accountable.