Prof. Cox Quoted in Wall Street Journal on AG-Fed Settlement

Professor Prentiss Cox was quoted in a Wall Street Journal article concerning the settlement between five major banks and various state attorneys general along with federal authorities. Cox stated that the settlement was a positive because it returned substantial money to the public rather than requiring taxpayer-funded incentives; but, he criticized the purported $25 billion in credits to homeowners, because those credits would be controlled by the mortgage lenders, which is the same problem that has plagued prior government loan modification efforts. Cox was also quoted in the Daily Beast regarding the settlement.