The $8.5 billion foreclosure settlement between ten of the nation's largest servicers and the government regulators may in fact be a huge gift to the too-big-to-fail giants, according to numerous news outlets.
Crain's Chicago Business has a wrap up of the settlement deal and cites the Wall Street Journal among numerous sources, saying:
"(The banks) eager to complete the settlement because they are due to report fourth-quarter earnings in the coming weeks and want to put the matter behind them. The talks almost collapsed over the weekend after bankers threatened to walk away from the deal if the Fed's demand for an additional $300 million was included, a person briefed on the talks said."Sponsor Content