“Since AG Bondi has called AG Harris a liar over what the proposed settlement release of bailed out bank liability is, AG Bondi should release the text that’s on the table. Then we all can see who’s right.”


Attorney General Champs, Chumps, and Eric Schneiderman

by Abigail Field

A lot of news has broken in the last few days, shifting the law enforcement against Wall Street and Bailed-Out bankers landscape in profound ways, so here’s a look at the current state of play.

In the Attorney General law enforcement champions category–the people David Dayen calls “Justice Democrats”–we have Delaware’s Beau Biden, who again rejected the “settlement” between bailed out banks, the Justice Department, and miscellaneous attorneys general, and California AG Kamala Harris, who did too. Note: Harris’s such a champ she had the strength to reject an obvious, and large bribe in the process. Nevada’s Catherine Cortez Masto has not, to my knowledge, reaffirmed her rejection of the “settlement”, but she’s been so fiercely law and order it’s hard to imagine her caving to the pressure to cut the banks loose. Massachusetts’s Martha Coakley doesn’t seem likely to play ball either. (I put “settlement” in quotes because it vacillates from imminent to off the table seemingly by the week, and its terms remain somewhat in flux.)

If those are the champs, who are the chumps? Well, any state attorney general who isn’t willing to stand with Biden, Harris, Masto, and Coakley, as a general matter. Several have made noise, however, about taking action; a couple of weeks ago Oregon, Maryland, Kentucky, Minnesota, New Hampshire, Hawaii, Missouri, Montana and Mississippi were meeting with the “Justice Democrats” about coordinating investigations and enforcement. So that could be nine new champs, if they survive the pressure from the Obama Administration to take the deal. If you live in any of those states, please give them a call and tell them to reject the “settlement.”

Catch the rest of this here…