New York Attorney General Kicked Off Government Group Leading Foreclosure Probe

[defendandprotect]

New York Attorney General Kicked Off Government Group Leading Foreclosure Probe

WASHINGTON -- New York Attorney General Eric Schneiderman on Tuesday was kicked off the committee leading the 50-state task force charged with probing foreclosure abuses and negotiating a possible settlement agreement with the nation's five largest mortgage firms, according to an email reviewed by The Huffington Post.

Schneiderman was one of roughly a dozen state attorneys general leading the talks with the five companies, alongside representatives of the U.S. Department of Justice, the Department of Housing and Urban Development and other federal agencies. The government launched the negotiations in the spring after widespread reports of foreclosure irregularities, such as so-called "robo-signing" and illegal home seizures, emerged.

But state prosecutors and federal officials are pressing to complete a proposed settlement with the five companies even though they've initiated only a limited investigation that hasn't examined the full extent of the alleged wrongdoing, The Huffington Post reported last month. Elizabeth Warren, who until recently was a senior adviser to President Barack Obama and Treasury Secretary Timothy Geithner, told a congressional panel last month that government agencies may not have sufficiently investigated claims that borrowers' homes were illegally seized.

Schneiderman, a Democrat who's in his first term as New York's top law enforcer, has been among a group of state legal officers who has also questioned the desire for a speedy resolution. He's leading his own investigation into mortgage improprieties, subpoenaing documents from the nation's largest financial institutions and reviewing court records for possible illegal home repossessions.

http://www.huffingtonpost.com/2011/08/23/new-york-attorney-general-eric-schneiderman_n_934517.html




:nuke:

[DJ13]

1. If he isnt in the group, and doesnt sign the settlement

Is NY still forced to back down on their investigation?

[jeff47]

3. It depends

If it's implemented as an agreement between the banks and the states in this group, then NY wouldn't be affected.

If it's implemented as a federal law, then NY would not be able to prosecute.

[amborin]

2. such corruption; just when you think it can't get any worse....

[1StrongBlackMan]

4. Differing Litigation strategy ...

Is not indicative of corruption. There are any number of reasons for separating a disparate and disagreeing litigant from the main case ... especially when a majority of the other litigants believe they are close to a satisfactory settlement.

Watching/reading/listening to non-attorneys who have no idea about the progress of the case, claim corruption because they think they know better than the attorneys working the case (except, for one) gets really, really tiring.

[tblue]

5. We've been kicked in the teeth so many times

it's hard not to expect the worst. But I hope you are right. If you're not, I hope you'll remember this and see it as just the latest in a series of many frustrating and largely unneccesssy disappointments.

Welcome to DU! :hi:

[girl gone mad]

6. Granting banks blanket immunity..

for their host of crimes in exchange for a puny fine is a corrupt act.

This deal should not go through. It is terrible for the people and sets a bad precedent for the country.

What a shame that our leadership has sold out so thoroughly, and for such a pittance, too.

[1StrongBlackMan]

10. What, exactly, do you know ...

about the deal?

What exactly do you know about the strong of the (multiple) States' case?

I'm guessing only the few details and the many pundit assumptions posted at HP and the like.

I'm sorry ... when it comes to litigation strategy, I'm inclined to lean towards those litigating the case.

[defendandprotect]

7. MODS ... PLEASE JOIN THIS WITH THE LATE BREAKING ARTICLE ON THIS ...!!

THANK YOU!!

[_ed_]

8. Obama will literally move heaven and earth to protect

his rich banking buddies.

Can you imagine if he cared about gay people, veterans, the homeless, or the jobless like this?

[Octafish]

9. That is most troubling.

The evidence the banksters and their owners are capable of anything should be obvious to anyone who stops to look.

Perhaps a Jubilee can re-set the system? I know it won't change the hearts of the players or give them an ounce of integrity.

[Bozita]

11. So, how does this help to disprove the good ol' "both parties are the same" meme?

Unless maybe the meme is true.

[Luminous Animal]

12. That reminds me. Time to kick this post.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=439&topic_id=1808188&mesg_id=1808188

[Bluebear]

13. Yes we can! Yes we can!

Clap louder!