Schneiderman Investigating Bain Capital, Amid No News of Any Investigation on Mortgage Fraud Task Force

Schneiderman Investigating Bain Capital, Amid No News of Any Investigation on Mortgage Fraud Task Force

As you may know, back in late January New York Attorney General Eric Schneiderman agreed to a relatively toothless settlement over mortgage servicing and foreclosure issues in exchange for becoming a co-chair of a task force designed to investigate and prosecute fraud in the securitization market. According to Schneiderman, this would focus resources on “the bubble and the crash,” the events that truly wrecked the economy, and both hold those who committed wrongdoing accountable and provide ongoing consumer relief to those who through no fault of their own found themselves suffering in the aftermath of the financial crisis.

Those were the key selling points of the task force, more formally known as the Residential Mortgage Backed Securities (RMBS) working group. In reality, the task force ended the split within the Democratic Attorney General ranks over the settlement, and created the conditions to finalize it. The goal was more political, to show that the Administration had an interest in accountability for the foreclosure crisis, and in ensuing months, to put on the board a big number of consumer relief that Your Government provided to homeowners. Never mind that the bulk of that relief, over 80%, has thus far consisted of short sales, which banks were already doing for a year prior to the settlement, and which results in the individual losing their home anyway. But that headline number sure looks good in the papers.

Meanwhile we’ve heard almost nothing about this RMBS working group. It took the group four months to hire a coordinator. And there’s ample evidence that the group merely takes credit for ongoing investigations that would have proceeded at their own pace. Nothing new has been generated so far. And what has Eric Schneiderman, a co-chair of this working group, been up to? Well, he’s issued subpoenas to banks over the unrelated Libor scandal. And he’s been very firm with the energy drink industry. But this latest foray is really unseemly, turning an apolitical law enforcement role into really just a political actor.

Rest here…

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4closureFraud.org

Comments
6 Responses to “Schneiderman Investigating Bain Capital, Amid No News of Any Investigation on Mortgage Fraud Task Force”
  1. stripes says:

    No politician is going to save US….WE THE PEOPLE have the SUPREME POWER OF THE VOTE to RESTORE the SUPREME LAW OF THE LAND to its ORIGINAL FORM…THE U.S. CONSTITUTION….ISSUE OUR OWN CURRENCY….U.S. BANK NOTES… VIA STATE BANKS…WE NEED A REFERENDUM TO DO THIS AND TO ABOLISH OBAMACARE ON THE 2012 BALLOT. WE THE PEOPLE MUST SUE THE FEDERAL RESERVE….A PRIVATE BANK WHO COMMITTED A QUADRILLION DOLLARS IN DERIVATIVES FRAUD WITH OUR ELECTRONIC SIGNATURES IN ORDER TO HOLD US HOSTAGE AND ROB US OF EVERYTHING …..WITH THE BIG LIE THEY LENT US MONEY…THEY DID NOT…..IT IS ALL ELECTRONIC FAKERY…..ALGORITHMIC FRAUD…..TO ROB WE THE PEOPLE OF ALL OF OUR WEALTH….LIVELIHOODS…PROPERTY…..FREEDOMS…AND OUR COUNTRY.

  2. Sarah says:

    Schneiderman is your prototypical AG who started out as a “get tough on crime guy” like so many other political opportunists in a popular “hammer the poor” mindset of a declining empire.. All the AGs, every one of ‘em, signed onto the biggest failure to enforce the law in modern times. Sell-out Scheiderman keeps popping up in the news, even though he sold us down the river and has been roundly discredited. Perhaps he’s going to look into the Sunny Sheu matter.

    • Fury says:

      AG schneiderman won’t investigate the murder of
      sunny sheu because sunny sheu was not an investor.
      investors are the only people schneiderman cares about and protects.

  3. stripes says:

    Article 1; Section 10; of the UNITED STATES CONSTITUTION States clearly……no payment in exchange for bills of credit may be taken in any form other than gold or silver backed currency….not fiat currency or property. This is outright robbery by the FED and by the politicians via ongoing bailouts, hyperinflation and deflation of the FED FIAT DOLLAR…and PROGRESSIVE TAXATION….THAT IS HOW THEY WILL ACHEIVE COMPLETE COMMUNISM…. In the Obama 2016 movie they state Obama wants 100% TAXATION….THAT IS COMPLETE COMMUNISM…..COMPLETE GOVERNMENT CONTROL…..THIS WILL BE ACHEIVED VIA THE MICROCHIP IN OBAMACARE…..REJECT OBAMACARE….THEIR CREDIT/DEBIT CARD….We need a referendum on the 2012 ballot to restore the U.S.Constitution to its original form….issue our own currency…U.S. BANK NOTES via State Banks…Sue and abolish the FED……..VOTE OUT THE FASCISTS..!

  4. talktotennessee says:

    Political for the most part although probably ‘smoke’ there too. I keep wondering what we can do to gain national attention. Are we large enough in numbers to demonstrate physically? NO. Too spread out and not enough ability/motivation. Many of those victimized have no computer access or knowledge (particularly the sub-prime poor in Memphis and similar areas). The blog here is good for information, reliable and on target, in ways connecting us to what is happening that we would have no other avenue to learn. Be we lack power and action. We pin our hopes on heroes that fade into the dust.
    OCCUPY helps some but their primary focus is diverse, largely physical, not affiliated even with a party, focused on schools loans, labor unions, etc. They lost initial impact where they could have evolved into a dynamic force to be dealt with but unlike the Tea Party movement who seized control of the GOP, now shaping it to their purpose, OCCUPY opted out of reforming the Democratic party. The Democrats failed to embrace and encourage the movement, which would have added to their influence. WHY? Because the Democrats are dipping into bank kool-aid themselves. Remaining independent of Democrats, OCCUPY lost momentum and opportunity to reform that political entity even though the Democratic platform is nearer their ideology than that of the Republican party.
    Aside from all the past, what can we do NOW to further our cause? Are we losing our voice as OCCUPY/OWS ilost its voice to the wind while criminals escape justice?
    Violence drives a movement. Even though Martin L King, Jr’s drive was non-violent, it was the violence of those trying to quash him, leading to his martyr that drove injustice of a civil rights movement. We need to stop looking for heroes in the Schneidermans who stay in the forefront of the media for their own political agenda! Watch for Schneiderman to rise politically!
    It is hard to fight power brokers and banks but there must be a way to inflict a thousand needles of pain. Ideas?

  5. Stupendous Man - Defender of Liberty, Foe of Tyranny says:

    Schneiderman hasn’t been of much use thus far. There is is nothing to indicate that will change. Mere window dressing by a window licker.

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