Quelle Surprise! 50 State Attorneys General Settlement Talks Beating a Retreat

``Banks have privately said that they will not agree to a fine above $10 billion -- far below a discredited $20 billion figure floated in the press two months ago -- arguing that regulators have not provided evidence that servicing problems led to wrongful foreclosures... This ask sounds troublingly like it is setting the stage for a broad waiver of liability for mortgage abuses, a step we have roundly opposed. No one has any business giving broad waivers when they don't know what bad conduct they may be forgiving... The only good news is the article also reports that there may be no deal, and says that some AGs are reluctant to accept an agreement when they don't know the extent of the abuses. Having this come to naught would be the best outcome for the public at large. ''