Will Schneiderman bring down the banks the same way the Feds nabbed Al Capone?
Big Foreclosure Settlement Still Not Really, Truly, Finally Done
And here we go again. Last month I wondered when we were going to see the documentation behind the ‘$25 billion’ mortgage settlement. Despite the massive action this settlement is now supposedly leading to, there didn’t seem to be a huge rush to get the deal finalized.
The same day I posted my blog it was reported that prosecutors would likely be filing the documents in the courts by the end of the month.
Well February has come and gone, and it appears we’re no closer to seeing the final settlement document. March has started more like a lamb then a lion.
Just as it did when it went up last month, the government’s settlement website still says coming soon where the document should be.
HUD secretary Shaun Donovan told the Senate Housing Committee Tuesday that they shouldn’t worry, that there were just a few i’s to be dotted and a few t’s to be crossed.
Uh huh. Isn’t that what they said the last time? Until the settlement is signed, sealed and delivered, there will still be lingering doubt about it’s language.
Schneiderman Could Focus on REMICs
We’re still seeing just how Eric Schneiderman’s RMBS working group will come together. Today it was reported that Congressman Brad Miller will not become it’s staff director, as the group is seeking an “experienced prosecutor for the job”.
But Chris Whalen of HousingWire offered his idea on how Schneiderman will go after the banks, and as I have also speculated, he believes its tax fraud that could ultimately bring them down.
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