Updated Jan 23, 2012 10:04 AM

Rumor has it that in a matter of days, after months of negotiation with big banks, the White House may announce a settlement that would let the banks off the hook for their role in the foreclosure crisis -- paying a tiny fraction of what's needed in exchange for blanket immunity from future lawsuits.

We hope these rumors are untrue, and that the President lives up to his words:

President Obama has the ability to stop and change the direction of this sweetheart deal. He should reject any deal that benefits the one percent and lets the big banks get away with their crimes. Instead, the president should stand with the 99 percent and push for real accountability and a solution that will help millions of people in this country.

Federal prosecution of financial fraud has reached a 20-year low under the current administration¹. President Obama should reverse this trend and make sure the Wall Street executives responsible for this economic crisis are held responsible. No deal should be cut that lets them off the hook.

Call the White House today and tell the President to stand with the 99% by making sure banks pay their fair share in any settlement over mortgage fraud and illegal foreclosures.

Call The White House at (202) 456-1111 Here's what you can say when you call: "Hi, my name is [NAME], and I am calling from [STATE]. I'm calling to ask President Obama to stand up for homeowners and hold Wall Street accountable. We need a full-scale investigation into the big banks and Wall Street, and criminal prosecution for bank executives. Furthermore, any settlement with big banks must include at least $300 billion worth of principal reduction for underwater homeowners."

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