This morning news broke that the White House is pushing a big, $20 billion global settlement to end the foreclosuregate mess.
There’s one surprising thing. The market is taking this to be an actual punishment of the news. Our presumption would be that any settlement would somehow end up being a positive, but maybe a punishment is a punishment…
The market is down, but the big banks, like Bank of America (down over 2.3%) are getting hit much worse.
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