I wandered my way in to a rec'd diary about Eric Schneiderman being removed from a committee within a committee that is dealing with the large settlement that is being worked on between the 50 states and some of the larger mortgage servicers in the U.S.
The obvious and far too common knee jerk reaction here is to take what some politician is doing and compare that to what Obama is doing whether it involves Obama or not. This example was no different and the rec's soon followed.
UPDATE!!!!!!
THIS is a link to a PDF. In said PDF is a recent settlement that Schneidermans assistant AG signed off on, you can actually see the signature.
The settlement involves a ten year period of illegal activity by JP Morgan. The investigation lasted 3 years and was just completed 7/7/2011.
The settlement was for $92 Million dollars. Nobody went to jail, JP Morgan did not have to admit any wrong doing, it was acknowledged that they fully cooperated with the investigation, and they are allowed to continue selling the very product that they were "accused" of selling illegally.
I put this update in so people could stop pretending that I'm making this up. The likelihood that Schneiderman is going for jail time is very slim, he would not want to risk boatloads of cash for NY just to go to trial, he may get more money, but I don't think anyone will be admitting any wrong doing any time soon.
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