Same shit, different day

by Susie
David Dayen on the foreclosure fraud settlement filed yesterday:

Now we know why federal officials hedged and wrote that “at least $10 billion” of the settlement would be devoted to principal reduction. By my calculation, the banks can satisfy over 1/4 of their settlement obligations through things like donating and bulldozing homes, waiving deficiency judgments and paying transition assistance for borrowers, things they would already do in the normal course of affairs.