NEW YORK (Reuters) - The mortgage task force formed by President Barack
Obama to probe misconduct that contributed to the financial crisis will
soon take legal action, New York Attorney General Eric Schneiderman said
on Thurs.
The Residential Mortgage-Backed Securities Working Group was formed in
January, to probe the pooling and sale of risky mortgages in the runup
to the 2008 financial crisis. Obama said he was creating the group to
"hold accountable those who broke the law" and "help turn the page on an
era of recklessness."
"It's important to convey the sense that no one is above the law.
There's a set of rules to which all will be held accountable, including
big players on Wall Street," Schneiderman said.
Schneiderman noted that only days earlier protesters had gathered in a
park nearby to mark the first anniversary of the Occupy Wall Street
movement.
The task force includes the Justice Department, the Securities and
Exchange Commission, the Department of Housing and Urban Development and
the Internal Revenue Service.
Schneiderman said the group, which has been criticized for inaction,
had taken a few months to staff up. He said he was optimistic resources
would continue to expand.
"History will show the working group acted pretty quickly given the circumstances," he said.
http://mobile.reuters.com/article/wtMostRead/idUSBRE88J1HT20120921
What a pathetic joke the federal and New York administrations are. I would laugh if it all weren't so damn expensive. I wonder what this wet dream cost.
Does that mean Greenspan who fueled the crisis with zero percent interest rates is on his way to jail as well as congress who passed laws that allowed people to become homeowners who could barely afford rent? Barney Frank in jail at last?
ReplyDeleteAppraisers who falsified housing values joining congress as well as the realtors who convinced the populace that housing never goes down in value.
Justice at last.
Don't hold your breath.
Delete