John H
John H
Aug 23, 2017 · 1 min read

“As a result, California homeowners received over $18.4 million in debt mortgage relief. She forced Ally Financial, Bank of America, Citibank, Wells Fargo, and Chase to pay out millions of dollars to cheated customers.”

That’s less than $0.50 per person in the state, or about $1.60 per household. Granted, they didn’t defraud EVERY person/household in the state, but can you maybe see why a lot of people think that’s woefully insufficient remuneration? It’s not even an effective deterrent — it’s just under 12% of what ONE of those bank’s CEOs (Bank of America for this particular example) PERSONALLY took home from 2001–2008, and 0.12% of just one of those institution’s (Citigroup) ANNUAL PROFIT. That’s the income-adjusted equivalent of fining me and four friends a combined $40.

)

    John H

    Written by

    John H

    Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
    Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
    Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade