The Countrywide Settlement !?!?

The California Attorney General's landmark settlement with Countrywide was widely reported in the media. It is not clear though that the settlement has actually been put to paper and apparently only a "term sheet" has been drafted.

Apparently the full agreement is yet to be worked out and approved by the court. One may wonder why this "settlement" was announced and portrayed as a completed deal before the complete agreement was drafted and approved by the court.

It has been reported that the agreement was reached with the State of Illinois and Connecticut in addition to California.