The booting of Eric Schneiderman from the executive committee of the 50 state AG “investigation” of foreclosure fraud is pretty funny in this context: the AGs are supposed to be undertaking an investigation. Schneiderman is one of the few AGs actively involved in just such an investigation. And so he’s the one who has to get the boot.
This shows the depravity of once-respected Iowa AG Tom Miller, who is spearheading the “investigation.” He has wanted a settlement to put these issues behind the banks from the very beginning. He wants the headlines that come with the settlement, the pot of money to show that his efforts helped homeowners, and the minimal disruption such a settlement would provide. When Miller was named the head of the “investigation,” he immediately received a windfall of campaign donations from the financial sector. He has chased a deal for almost a year, all time that could have been spent on a real investigation of the shoddy foreclosure practices of the big banks.