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Well mortgage full closure deal this week between the states in the country's five biggest mortgage -- -- That's what attorney general Tom Miller has stated but could California bring in a new wrinkle by making while their own move.
Charlie Gasparino do literally just arrived as the details at this show is shot I'm.
Maybe I tried to -- to -- I try to okay Liz all the time you just running in and she usually smacks me around talking about full closure of settlements I just visiting 125 billion dollar deal that's kind of on the table.
One of the problems is that there's an impediment the biggest state with -- most of the foreclosures California is not -- -- but this is what we know it.
-- likely imminently at least that's the statement.
We're getting from the California AG's office we're gonna -- with a California here is in or out of this deal were released when we get some clarity on that.
That's what they told us they station as a statement that there are likely to have some sort of a press release -- something yeah pretty soon what that's gonna say.
I can't tell you but I can't say this.
There's about five banks affected Bank of America by Morgan wells kind of interest -- -- look at this from a stock play -- -- -- -- minute.
But that the the the Hud secretary Shaun Donovan has been pressuring California to be part of this thing.
And is and is we reported earlier in the week there was a meeting on Monday at Hud secretary you with -- which where the Hud secretary basically was talking with the AG's to try to get together.
So California I don't know what's gonna happen it may be part of this and if this deal gets done.
You're an investor in bank of American -- of the stocks.
I think it's a net positive among other things to be pollyannish but you're saying because what they can get it behind -- another way actually and that only that I think the dollar amounts sounds like 20s25 billion.
When you start looking at the real money being paid.
Well it's more like five to seven billion on the spread among -- as such as that most of the stuff.
Is involving like you know sort of a mortgage forgiveness and refinance right which really don't hurt the bottom line is directly.
What is being California's hesitancy because from what I could breed from their office they have worry that this is gonna impede their ability.
To investigate exactly what quality that the line they want to investigate more at the banks want to -- it.
In one shot and -- -- -- kind of closes every bank you know when you do settlement yen would like not to have to worry about it in the future California.
Is saying that this is an heavy enough this is in tough enough and we says that the senate has Camilla hardly the only holdout Tony well there's several us but they're the biggest -- -- -- New York.
Is is a hold up but it doesn't have as many foreclosures and issues as California's is debt that was one of the the that was one of the epicenter is of the subprime debacle yeah California Arizona you know -- Florida and -- Nevada.
So that's where we are right now were waiting to hear the minute we hear it we're gonna put it on the air.
If they don't do medical back tomorrow but they're Thomas are likely to have some sort of clarity today very good potential confront the camera -- would want -- inflows always great thanks so much right now.
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