Who do those fines actually help?
They help the banks!
The people who own those homes still have to pay those banks to clear out their mortgages. If interest rates go up, the banks make even more money from those people. Never mind any late fees from people who are already underwater, have lost their jobs, or have fallen behind for whatever reason.
What the hell kind of justice is this?
Those banks should have had to forgive $400M in mortgage debt.
They should have had to send out letters to people letting them know their mortgages have been voided, their homes were free as punishment for the bank’s fraud, and they should have been granted the deeds and titles free and clear.
Paying the government $400M doesn’t help move the economy forward.
Dropping $400M in free homes on people would!
Call them Jubilee Fines, Robin Hood fines, whatever.
The punishment should benefit people directly, not the government.