Eric Schneiderman, the New York Attorney General who has been heroically trying to bring accountability to criminal banksters, and was just named by President Obama to lead some kind of mortgage fraud investigtion, just spoke to Rachel Maddow on her show (MSNBC).
He said today's action KEEPS EVERYTHING ON THE TABLE. All fraud currently being investigated will continue to be investigated and all manner of new charges can be discovered/brought.
He could not have been more emphatically psyched about today's multi-billion dollar deal. He said that primarily it will provide MILLIONS OF HOMEOWNERS RELIEF, and the big banks are in no less trouble as a result.
I will post the video the moment it becomes available.
I think this is important because there have been recent reclisted diaries that are like, "we're getting sold out, man!" And I confess that twenty-something billion dollars sounds like an insultingly small crumb compared to the trillions stolen. But if Mr. Schneiderman thinks this deal is good, and is only a beginning, we might all do well to trust him. I know I do.
Please discuss this development in CityLightsLover's nightly Maddow post here:
Also, tell her she shouldn't be mad at me for posting this before her AWESOME diary went up. Let her know what an intelligent, witty, gorgeous and beloved Kosack she is! But don't overdo it or she'll know something's up. ;D
Here's the video:
(h/t tomjones) Here is Elizabeth Warren's positive response to the deal as it appeared in the Washington Post today:
Elizabeth Warren, Democratic candidate for Senate in Massachusetts (news statement):http://www.washingtonpost.com/...
“Today’s settlement shows a significant commitment to helping struggling homeowners stay in their homes. But it needs to be the beginning, not the end, of efforts to hold the big banks accountable with meaningful penalties that demonstrate the rules and the law apply to everyone, no matter who your friends are or how many lobbyists and lawyers you can hire. Moving forward, further investigation and prosecution are needed to bring our long national mortgage nightmare to an end.”
Kosack RhodaA not only has a list of the good elements of the deal from a diary she posted yesterday...
Specifically, this settlement does not:(h/t thenekkidtruth)
Release any criminal liability or grant any criminal immunity.
Release any private claims by individuals or any class action claims.
Release claims related to the securitization of mortgage backed securities that were at the heart of the financial crisis.
Release claims against Mortgage Electronic Registration Systems or MERSCORP.
Release any claims by a state that chooses not to sign the settlement.
End state attorneys general investigations of Wall Street related to financial fraud or the financial crisis.
...but she also has the link to the official Govt. website of the agreement, where all its details can be perused: