Federal Task force on Mortgage Fraud issues 11 subpoenas..

[dixiegrrrrl]

Friday, January 27th, 2012, 10:53 am

"The new federal task force led by New York Attorney General Eric Schneiderman sent subpoenas to the 11 largest financial institutions in the past few days as part of its investigation into possible residential mortgage-backed securities fraud."

http://www.housingwire.com/2012/01/27/new-federal-mortgage-fraud-task-force-subpoenas-11-banks

More:

"Schneiderman said in a press conference Friday that he will be joined by Delaware AG Beau Biden, Massachusetts AG Martha Coakley, Nevada AG Catherine Cortez Masto, California AG Kamala Harris and Illinois AG Lisa Madigan.

U.S. Attorney General Eric Holder said 15 lawyers and investigators are working with the group. The FBI will add 10 agents, and another 30 lawyers and staff will join the group.

The Securities and Exchange Commission will also participate. SEC Director of Enforcement Robert Khuzami said there "would be no stone unturned, no dark corner unexposed to the light."

Add this phrase to the list of memorable ones...
"no stone unturned, no dark corner unexposed to the light."

We'll see......

[Old Codger]

1. OK

I am not too cynical, but I will believe it when I see it... big show maybe but how much will really get done about it. Have to wait and see.

[mike_c]

2. when I see the guillotines...

...I'll be impressed. Until then, I'll wait and see. It's not time to put the torches and pitchforks away, yet.

on edit-- it's encouraging to see that Kamela Harris is on that commission, though.

[Frustratedlady]

3. This is super! Those gals will keep it going...

They are furious over the whole scam and Schneiderman/Biden will be a good team. If nothing else, having the FBI, SEC and all those lawyers ought to scare the britches off some of these clowns.

This is great news and I hope everyone stands behind them.

[Po_d Mainiac]

4. Perpective needed

Gonna be 55-60 agents and attorney's assigned to a case that is infinitely larger than the S&L scandal. Just a minor difference, the S&L probe had around a thousand agents.

What a white(house)wash job.

[dixiegrrrrl]

5. Good information to know.

Esp as one of the excuses Holder used, as did the FBI, awhile back, was both agencies were "too understaffed" to take on such an onerous job.

[JDPriestly]

6. Good news