At Tuesday's State of the Union Address, Obama announced that he would be creating a new task force within the Consumer Financial Protection Bureau to coordinate all investigations on the causes of the subprime mortgage crises.
The man he picked to co-chair that task force is New York's Attorney General, Eric Schneiderman. It's not a surprising choice. Schneiderman been aggressive in investigating banks for mortgage fraud in New York, and has taken a leadership role in mortgage fraud settlement negotiations between banks and state AGs around the country. Here's what he had to say about his new job (from the L.A. Times): "We’re undertaking a more coordinated effort to pull together all of the various strands of investigations relating to the conduct that created the mortgage-backed securities bubble and led to the market crash...There have been investigations going on in various states and branches of the federal government...We’re now making a concerted effort to pull everything together and move forward aggressively to address these issues." Basically, if you're not a New Yorker (Schneiderman is a former State Senator) and didn't know him before, get ready to know him now. We're making it easy for you.
By Linette Lopez
Read more: http://www.businessinsider.com/meet-ny-attorney-general-eric-schneiderman-the-man-obama-picked-to-find-out-who-caused-the-mortgage-crises-2012-1
Read more: http://www.businessinsider.com/meet-ny-attorney-general-eric-schneiderman-the-man-obama-picked-to-find-out-who-caused-the-mortgage-crises-2012-1
