New York Investigates Banks’ Role in Financial Crisis
The New York attorney general has requested information and documents in recent weeks from three major Wall Street banks about their mortgage securities operations during the credit boom, indicating the existence of a new investigation into practices that contributed to billions in mortgage losses.
Officials in Eric T. Schneiderman’s, office have also requested meetings with representatives from Bank of America, Goldman Sachs and Morgan Stanley, according to people briefed on the matter who were not authorized to speak publicly. The inquiry appears to be quite broad, with the attorney general’s requests for information covering many aspects of the banks’ loan pooling operations. They bundled thousands of home loans into securities that were then sold to investors such as pension funds, mutual funds and insurance companies.
It is unclear which parts of the byzantine securitization process Mr. Schneiderman is focusing on. His spokesman said the attorney general would not comment on the investigation, which is in its early stages.
Check out the rest from the NY Times here…
~
WTF WERE JUST KICKED OUT TODAY…..
Remember the big boys couldnt have gotten rich without people like these,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,http://www.fbi.gov/washingtondc/press-releases/2011/former-title-and-escrow-agent-indicted-for-mortgage-fraud
Thanks AG Scneiderman for the validation of our claims. We The People were defrauded and robbed in the biggest Ponzi Scheme swindle and heist in history and it was massive and pernicious. .
Whle the NY AG is investigating the banks role in the financial crisis, honest Americans are investigating the banks AND the AGs role in the financial crisis.
No AG is innocent of this.
James…at least he is investigating the banks….and I did have the understanding the NY AG was not going along with what the AG’s were suggesting…….BUT….Florida’s AG has only been in office a short time…a short time to long. OMG….what a sad case this one is….she needs to go back to elementary school and start all over. …riding piggy-back on banksters backs was our first clue what to expect from her. so far she has sided with the banks and the mills….that’s it.
thank you, AG Schneiderman!
go get those crooks who have ruined all of our lives. they stole everything from us with their ponzi scheme!
there is fraud in the origination.
fraud in the foreclosure.
we need your help!
No investigation neccesary just throw thier slimebag butts in jail and it’s a happy ending to a not so pretty story.Enough said!!!
YUP!
AMEN tell them we want our retirement back!!!! in our parents day or even in the 1990’s real estate never lost value. so where do you think most of us invested our money in our homes. my youngest graduates in 5 years why in the heck would i want a 4 bedroom house after my kids are grown??? our plan was to sell and buy a smaller home for retirement. we want that freedom back. please