The “investigation” started exactly one YEAR ago tomorrow. Since then, we’ve heard deadlines of April and Memorial Day and Labor Day to now, where Tom Miller’s spokesman is saying that they’re “hoping that we can do this by year end.” The remaining AGs hammering out this settlement remind me of the Japanese soldiers holed up in mountain redoubts in the 1950s still fighting World WAr II because nobody told them it ended.
|By: David Dayen Wednesday October 12, 2011 3:32 pm|
|By: Teddy Partridge Sunday October 9, 2011 8:01 pm|
Having the President of the United States in their corner, publicly and resolutely stating that the “stuff” banks did “wasn’t necessarily illegal,” may not give a great deal of aid and comfort to middle-class Americans who saw their real estate wealth evaporate. It may not comfort folks illegally evicted from their homes, or those illegally foreclosed upon.
Obama’s words must comfort the comfortable most of all.
|By: David Dayen Friday September 30, 2011 3:50 pm|
In a major development, California’s Attorney General, Kamala Harris, has broken off from the proposed 50-state settlement over foreclosure fraud. If the talks weren’t dead already, and if you’ve read this space you’d know that I think they were, this surely puts them to bed.
|By: David Dayen Wednesday August 31, 2011 3:20 pm|
Tom Miller’s feewings are huwt. He doesn’t like how he’s being portrayed by those who have actually taken a look at how he’s been handling the 50-state “investigation” on foreclosure fraud. And he’s having his top deputy defend him to major media.
|By: David Dayen Wednesday August 31, 2011 6:59 am|
Nevada Attorney General Catherine Cortez Masto’s amended complaint in a lawsuit against Bank of America has so many interesting nuances, I think I need a new Internet to catalog them all. But let me start by saying that this complaint is a stick of dynamite to the foreclosure fraud settlement, exposing it as a useless whitewash that won’t deter banks from their criminal practices.
|By: David Dayen Tuesday August 30, 2011 7:45 am|
Eric Schneiderman keeps picking up support in his quest to hold a real investigation on the criminal failures in mortgage securitization and servicing. He has the support of a number of newspaper editorial boards, including the St. Louis Post-Dispatch, which devoted its Sunday editorial to an out-of-state Attorney General:
|By: David Dayen Friday August 26, 2011 1:00 pm|
CREDO has become the first national progressive group, to my knowledge, to back New York Attorney General Eric Schneiderman as he attempts to hold a full investigation into fraud in the securitization processes by the mortgage industry.
|By: David Dayen Wednesday August 24, 2011 5:20 pm|
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.
|By: David Dayen Wednesday August 24, 2011 8:15 am|
In the 50 state AG “investigation” of the bank foreclosure/securitization fraud saga, there’s a smaller task force of about 13 AGs and two banking regulators who are involved in the negotiations with the banks and whatever else it is that they’re working on. It turns out that New York’s Eric Schneiderman was part of that executive committee, but now he’s been booted off.
|By: David Dayen Tuesday June 28, 2011 4:42 pm|
In the strongest comments from a Democrat to date about the state AG settlement with top banks over foreclosure fraud, New York Attorney General Eric Schneiderman vowed to oppose the deal, striking a near-fatal blow to the effort.