Politicians Eager To Find Wall Street Responsible For The Housing Crash

Politicians are not as eager to investigate their own interventions into the free market, destroying what had been the most reliable investment around — mortgages.

The New York Post reports: Several high-profile investigations, including one by New York State Attorney General Eric Schneiderman and another by the Justice Department, could hit banks with massive penalties for their role in the mortgage meltdown.
Sources told The Post that Schneiderman will launch an investigation in the next few weeks into Bank of America, Goldman Sachs and Morgan Stanley, along with other financial players down the road.
One source described his probe as a starting point for what could become a broader investigation into the mortgage practices of leading Street firms during the housing boom. The initial probe will focus on how firms packaged and sold mortgage securities to investors, the source said.

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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