The Madeleine Brand Show

The Madeleine Brand Show is a daily, two-hour program that looks at news and culture through the lens of Southern California. Hosted by Madeleine Brand

How will the housing settlement impact the political scene?

by The Madeleine Brand Show

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President Barack Obama speaks about home foreclosures at the College of Southern Nevada. Nevada saw the highest foreclosure rate in the country in 2011. Ethan Miller/Getty Images

The housing crisis continues to cramp President Obama's plans for an economic recovery. That could prove especially crucial in the 2012 Presidential election, as swing states like Michigan, Florida, Ohio and Nevada are among the top 11 states with the highest foreclosure rates.

Though the White House's past efforts to fix the housing market have fallen short of their own expectations, that could change after this morning's announcement of a $26 billion settlement between banks and federal/state governments.

David Mark, Senior Editor at Politico, joins Madeleine to talk about the political aspects behind the $26 billion mortgage settlement.

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