Sam Stein: Obama to Announce Mortgage Crisis Unit Chaired By New York Attorney General Schneiderman

[flpoljunkie]

EXCLUSIVE: Obama To Announce Mortgage Crisis Unit Chaired By New York Attorney General Schneiderman

First Posted: 01/24/2012 8:06 pm Updated: 01/24/2012 11:31 pm

WASHINGTON -- During his State of the Union address tonight, President Obama will announce the creation of a special unit to investigate misconduct and illegalities that contributed to both the financial collapse and the mortgage crisis.

The office, part of a new Unit on Mortgage Origination and Securitization Abuses, will be chaired by Eric Schneiderman, the New York attorney general, according to a White House official.

Schneiderman is an increasingly beloved figure among progressives for his criticism of a proposed settlement between the 50 state attorneys general and the five largest banks. His presence atop this new special unit could give it immediate legitimacy among those who have criticized the president for being too hesitant in going after the banks and resolving the mortgage crisis. He will be in attendance at Tuesday night's State of the Union address.

"The goal of this joint investigation will be threefold: to hold accountable any institutions that violated the law; to compensate victims and help provide relief for homeowners struggling from the collapse of the housing market, caused in part by this wrongdoing; and to help us finally turn the page on this destructive period in our nation’s history," reads a White House document outlining the objectives.

more...

http://www.huffingtonpost.com/2012/01/24/obama-housing-crisis-unit_n_1229617.html

[PassingFair]

1. I can't find anything bad about this guy!

I hope we see some action from him, and it looks like we just MIGHT!

[nykym]

2. Eric, please

don't do anything stupid and for heavens sake keep it in your pants!

[yodermon]

3. it's a real "pinch me i'm dreaming" moment, actually

for me anyway

[zipplewrath]

4. Be careful

and to help us finally turn the page on this destructive period in our nation’s history

We know how he likes to parse his words, especially in these contexts. I'm concerned about HIS balance of the three stated goals. He has a real commitment to "looking forward, not backward" that could unbalance these three.