Matt Taibbi describes how the Obama administration and the Fed are part of the group trying to put the screws on New York’s attorney general Eric Schneiderman to get him to agree to a sweetheart deal that will let the banksters escape with a slap on the wrist for all their mortgage-backed fraud.
David Atkins explains how the Obama administration and others had Schneiderman removed from a group of state attorneys general that were investigating mortgage abuses because he was not satisfied with the deal being offered. (Thanks to Peter G.)
I wrote about this before here.
Villains of the piece. Rating Agencies, Auditors, Investment Banks, Retail Banks (No docs, low docs),Bill Clinton {homes for everyone!} possibly AIG). Not necessarily in that order. I wonder if the Ordinary folks can nail these guys with Class Action Suits. In fact I am rather surprised at the apathy, lethargy and indifference on the part of civil society. You have said many times that both political parties are on the same side when it comes to the Oligarchy. I wonder if the ICC can play a role, after all these are crimes against humanity. It is very clear to me that America either has a dysfunctional democracy or no democracy at all. Americans unite you have nothing to lose but the oligarchy!
It is sad to see a global reluctance to deal with the banking crises. There has been lost of talk about increased controls and legislation but to date very little has happened across the globe.
We hope it will be better in the future.