Analyst's note: Thought you'd like to know. Talk about buying your way into office ....
Five big banks have agreed to give twenty-three Democratic attorneys general more than a billion dollars that can be distributed to housing groups and community organizers in the months prior to the 2012 election.
The money is part a deal valued at $25 billion that the five banks announced Feb. 9 with President Barack Obama’s deputies and with a coalition of 50 attorneys general. Ninety percent of the value consists of mortgage write-offs, accounting changes and cash transfers that are to be delivered to homeowners over the next three years. [....]
