Six months ago, the Wall Street banks were pushing for a bad settlement that would have granted the banks broad immunity from any further investigation into fraud and malfeasance leading up to the mortgage meltdown. It would have been a disaster.
The settlement announced today isn’t perfect. But it’s an important step for people who want to hold Wall Street accountable for their reckless and self-serving behavior, because it allows the crucial federal investigation being led by New York Attorney General Eric Schneiderman to continue to move forward unimpeded. That couldn’t have happened without Attorney General Schneiderman’s leadership. Despite the opposition of the most powerful financial corporations in the world, our Attorney General did not flinch, but remained steadfast to the ideal that no one is above the law.
It was quite week in New York. Eli Manning on Sunday. Eric Schneiderman on Thursday. Two New York giants!
For more information, please contact:
Joe Dinkin
(718) 222-3796 ext 217
jdinkin [at] workingfamilies.org
