Photo credit: @julesdwit.
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Attorney General candidate Eric Schneiderman at AG debate at WNYC on Sept. 8, 2010.
Eric Schneiderman, New York State Attorney General and co-chair the Residential Mortgage-Backed Securities Working Group, talks about the lawsuit against JP Morgan.
One wonders when, if ever, Schneiderman will begin looking into the $1 Billion swindle chargeable to Obama-bundler John Corzine in connection with his enrichment at "MF Global"http://news.yahoo.com/no-one-charged-crime-mf-global-collapse-111056124--finance.html?_esi=1
Much as the self-confessed embezzler, Christine "Queen" Quinn, the then and current boss of the City Council Syndicate, is being allowed to escape her and her associates scheme of re-directing taxpayers' money to phony accounts for later disbursement at the direction of "Queen" Quinn.
Is Schneiderman really going to go after these future potential campaign donors? This exercise will have credibility when he goes after Blankfein and co.
i don't mind the money going into state govt pockets as long as it's used to balance the budget and reduce debt.
(Tom good point -- BUT... I happen know someone who had to disgorge nearly $20m personally under similar conditions -- his exact argument that he now bitterly uses to deflect or negate his actions and results were that the restitution did not go to the victims, but to "the government"'s pocket, therefore the government is simply a bigger criminal than he (which is why, his logic goes, Obama should be thrown out.)
why not sue under RICO?
So, let's say that NY sues every major bank, and that the other 49 states follow suite. And they all win. Of course, we know it's end up in settlements where no one admits any wrong doing. Where does the restitution money go? And how much of it doesn't go into the black hole of lawyer fees???
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