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| Obama Administration Pressuring New York Attorney General To Drop Mortgage Fraud Investigations |
| 2011-08-25 |
| Posted by:DarthVader |
| #6 Schneiderman has raised "important and legitimate concerns" about the scope of the liability releases demanded by the banks, Delaware's Biden said yesterday in a statement. This is nuts. How can a settlement not waive future liability? Why would banks pony up cash now only to give future litigants infinite future bites at the apple? On the plus side, though, if this litigation freezes up the mortgage market, it wouldn't be such a bad thing. The real estate market is still way overvalued. A 50% drop from current levels, due to banks' uncertainty about their capital position as a result of potential future liabilities would be a healthy correction. It would certainly make things more affordable for first-time home buyers. |
| Posted by: Zhang Fei 2011-08-25 20:59 |
| #5 #4 - Do you mean this news: New York Removed From Leadership Role in Bank Foreclosure Settlement Talks Schneiderman is committed to a settlement that provides relief to homeowners and allows the housing market to recover, and he will work with state and federal officials to achieve those goals, his spokesman Danny Kanner said in an e-mailed statement. “Ongoing investigations by attorneys general cannot be shut down by efforts to settle quickly and those responsible must be held accountable,” Kanner said. “While it is Attorney General Miller’s prerogative to remove us from the executive committee, we will continue to be an active voice on these issues as a part of the 50-state coalition and in other forums.” Schneiderman has raised “important and legitimate concerns” about the scope of the liability releases demanded by the banks, Delaware’s Biden said yesterday in a statement. “I believe that the events leading up to the mortgage crisis must be fully investigated, including origination and securitization practices, before any broad immunity is granted -- the American people deserve an investigation,” Biden said. Beau Biden might be the next AG to be 'dealt' with. |
| Posted by: Anguper Hupomosing9418 2011-08-25 20:07 |
| #4 He was fired from his position today. He refused to go easy on the lenders. |
| Posted by: Deacon Blues 2011-08-25 19:55 |
| #3 From the article cited by the article: our view is we have the immediate opportunity to help a huge number of borrowers to stay in their homes, to help their neighborhoods and the housing market A convenient excuse to cover up massive criminal fraud, abuse of and fraud on state courts, widespread perjury, and weakening of centuries of legal principles safeguarding the ownership of real estate by rich and poor alike. All this criminal activity must be permitted, to prop up the Vampire Squid industry. |
| Posted by: Anguper Hupomosing9418 2011-08-25 16:15 |
| #2 Watch your back, Schneiderman. |
| Posted by: Ebbang Uluque6305 2011-08-25 14:09 |
| #1 It's a question of resource allocation: why spend time investigating the mortgage debacle when your investigators can be finding out whether Rick Perry sassed his second-grade teacher or trying to find an email in which Palin split an infinitive. |
| Posted by: Matt 2011-08-25 14:04 |