Government, banks sue Eliot Spitzer

[maddezmom]

NY AG calls suits 'shameful' vows national bank investigation will proceed despite legal challenge.
June 17, 2005: 3:58 PM EDT

NEW YORK (Reuters) - New York Attorney General Eliot Spitzer said Friday it is shameful that a federal regulator would join a legal effort that he says is aimed at shielding banks from scrutiny by state regulators.

Large banks including J.P. Morgan Chase & Co. (Research) and Wells Fargo & Co. (Research) sued Spitzer Thursday, challenging his authority to regulate their lending.

Spitzer was also sued Thursday by the U.S. Office of the Comptroller of the Currency, which is seeking an injunction to prevent New York's attorney general from "interfering" with its lending exams and supervision.

Spitzer said such a move was expected from the banks but "shameful" on the part of the OCC.

The OCC, a part of the U.S. Treasury Department, regulates and supervises all national banks, as well as branches and agencies of non-U.S. banks.

~snip~
more: http://money.cnn.com/2005/06/17/news/newsmakers/spitzer_banks.reut/index.htm?section=money_latest

[davidinalameda]

1. not to be the tin hat dude of the day

but wonder if the reason that the feds are suing him is to try and put a roadblock between him and the governor's mansion

[AlCzervik]

2. thats a side benifit-they fucking hate regulation of any kind.

[Debi]

3. Ding..Ding...Ding...Ding... Folks we have a winner!

:applause: :applause: :applause: :applause: :applause: :applause: :applause:
:woohoo: :woohoo: :woohoo:
:party: :party: :party: :party: :party: :party: :party: :party:

[Jeff In Milwaukee]

4. Ya Think?!

[geek tragedy]

7. More likely they're trying to "protect their turf." eom

[lovuian]

5. They are DESPERATE!!! THEY HAVE TO STOP SPITZER!!!

He has been inching away closer and closer to the HEART of the Republican Powers to be and they are DESPERATE to stop him...

Spitzer has been the Wealthy CEO corporate structures freakin NIGHTMARE!!!

this is only going to tick Spitzer off even more!!!

BAD BAD move by the Treasury!!!

[annabanana]

6. I Looooove Spitzer..

Is he vulnerable from this crap? Or is it junk lawsuits...

[MGKrebs]

8. Just when you think it can't get any more bizarre.

It's becoming comedic. Bill Shakespeare couldn't even write this stuff.

[NNguyenMD]

9. he's way too smart to lose this one, and he'll only get stronger after he

comes out on top.

[barb162]

10. they don't like muckrakers, especially successful ones

[applegrove]

11. As - always...they have to attack the Democratic leaders in New York.