New York’s Attorney General Leading The Way In Bank Investigation

I am hardly surprised that a New York Democrat is leading the way in investigating banks and their role in the 2008 financial crisis. It must be irresistible to such politicians to place the blame on bankers rather than on themselves.

I say, how about we investigate politicians for shoddy law-making that led to this financial crisis by forcing banks to lend money to people not credit-worthy?

Boston.com reports:

Goldman Sachs Group, Bank of America Corp., and Morgan Stanley were already part of the probe. Schneiderman is examining mortgage practices and the packaging and sale of loans to investors, according to the person.

A spokeswoman for the attorney general declined to comment.

Federal regulators and all 50 state attorneys general are scrutinizing how the biggest US financial firms handle home loans. Last month, as states coordinated settlement talks with banks over foreclosure practices, Schneiderman said any joint accord should not preclude individual states, such as New York, from continuing their own inquiries.

About Luke Ford

Raised a Seventh-Day Adventist at Avondale College in Australia, Luke Ford moved to California in 1977. He graduated from Placer High School in 1984, reported the news at KAHI/KHYL radio for three years, attended Sierra College and UCLA, was largely bedridden by Chronic Fatigue Syndrome for six years, and converted to Judaism in 1993. From 1997-2007, Luke made his living from blogging. Living by Beverly Hills (Alexander90210.com), he now teaches the Alexander Technique (moving the way the body likes to move). Lessons cost $100 each and last about 45 minutes. In 2011, Luke completed a three-year teaching course at the Alexander Training Institute of Los Angeles. His personal Alexander Technique website is Alexander90210.com. Luke is the author of five books, including: » The Producers: Profiles in Frustration » Yesterday’s News Tomorrow: Inside American Jewish Journalism
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