Gov. Jerry Brown diverted hundreds of millions of dollars paid by big banks in the mortgage settlement from their intended purpose â allowing distressed homeowners to avoid eviction and foreclosure â and instead used the money to pay down the state debt. Now the state has a massive surplus, yet he still doesn't want to restore the funds.
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IPTC: Keywords
Gov. Jerry Brown; Los Angeles Times; debt; austerity; mortgage crisis; foreclosures; settlement; lawsuit; evictions; distressed homeowners; state budget; California; Occupy Wall Street movement