The Man Who May Bring the Banksters to Justice (If They Don’t Break His Knees First)
N.Y. Attorney General Eric Schneiderman remains concerned about any attempt at a global settlement that would shut down ongoing investigations of wrongdoing related to the mortgage crisis.
Palm Coast FL – August 29, 2011
New York State Attorney General Eric Schneiderman may go down in history as the most important public official in reforming the corrupt financial system that caused the great Financial Crisis of 2008 and holding the perps responsible — if he can hold out against pressure from Wall Street, the Federal Reserve, and the Obama administration to give Wall Street a "Get Out of Jail Free" card.
Eric Schneiderman has played a key role in the investigation of foreclosure fraud and robo-signing by 50 state attorneys general against JP Morgan Chase, Bank of America, Wells Fargo, Citigroup, and Ally Bank. Reportedly, most of of the attorneys general — with the support of the Obama administration — are advocating a $20 billion settlement with the banks (less than a year’s worth of Wall Street’s bonus pool) in exchange for broad immunity from future investigations and prosecutions, not only of illegal foreclosures but of a wide range of fraudulent activity in connection with mortgage securitization over the past decade.
Schneiderman — who would arguably be the single most important attorney general in making a global "Get Out of Jail Free" card stick — has been objecting for months to a settlement which barred future litigation. "The attorney general remains concerned about any attempt at a global settlement that would shut down ongoing investigations of wrongdoing related to the mortgage crisis," said Schneiderman’s spokesman.
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Oh No!
Collusion between the regulators and the regulated?
That can’t be in the land of the Constitutional Law and Order.