New York Investigates Banks’ Role in Financial Crisis
New York’s attorney general Eric Schneiderman has requested information regarding mortgage securities operations from Bank of America, Goldman Sachs and Morgan Stanley. Schneiderman appears to be ignoring the position of attorney generals in other states who have negotiated settlements with large banks over foreclosures. In fact, Schneiderman is refusing to accept terms set by financial institutions that would restrict additional investigations into the banks’ activities during the mortgage crisis saying that signing such a release was unacceptable. The Attorney General’s office is offering no comment on the ongoing investigation and it is unclear whether the case will be pursued as a criminal or civil matter.
Here’s hoping for criminal charges.