'House Republicans Serve The Banks, Claim Foreclosure Fraud Penalties Would ‘Impede’ The Recovery'

what recovery?......congress should put themselves and the bankers in jail..................from wonkroom..........

"Previously, Republicans just derided the proposed settlement as a “shakedown,” but now they have a new reason for supporting the interests of banks over homeowners. According to a letter sent to U.S. Attorney General Eric Holder by four Republicans on the Financial Services Committee, reducing loans for troubled homeowners could impede the economic recovery:

“The settlement approach being pursued — which ignores Congressional prerogatives and bypasses the legislative process — is unwise policy and potentially unlawful,” the lawmakers said in the letter…“We have concerns about the potential terms of the servicing settlement because, among other things, we believe that a $20 billion principal reduction fund will create incentives to default that could worsen the housing crisis and impede economic recovery".....................read more here