Skip to main content

This will be very brief and I know this ain't much of a diary, but apparently according to Huffington Post:

During his State of the Union address tonight, President Obama will announce the creation of a special unit to investigate misconduct and illegalities that contributed to both the financial collapse and the mortgage crisis.

The office, part of a new Unit on Mortgage Origination and Securitization Abuses, will be chaired by Eric Schneiderman, the New York attorney general, according to a White House official.

About fucking time.  And whaddaya know, public pressure works.  I'm hopping on BART so I won't be able to respond for another hour or so.  But this is good news.

UPDATE:

Eric Schneiderman has released a statement, via the Huffington Post article I linked to above:

“I would like to thank President Obama for his leadership in the creation of a coordinated investigation that marshals state and federal resources to bring justice for the victims of the misconduct that caused the mortgage crisis.

“In coordination with our federal partners, our office will continue its steadfast commitment to holding those responsible for the economic crisis accountable, providing meaningful relief for homeowners commensurate with the scale of the misconduct, and getting our economy moving again.

“The American people deserve a robust and comprehensive investigation into the global financial meltdown to ensure nothing like it ever happens again, and today’s announcement is a major step in the right direction.”

I notice in the comments that there is some skepticism, that this is just a PR move - and skepticism is absolutely warranted.  The administration hasn't exactly been balls-to-the-wall on the mortgage crisis and going after the financial sector thus far.  I'd like to see not only prosecutions but stronger reforms and a large scale program to write-down mortgages.  But this is a step in the right direction.  Anyhow, I'd love to stay and chat more but I've got to put my 2-year-old to sleep (who knows how long that'll take), and she's breaking my balls right now to read The Gruffalo to her.  Thanks for putting this on the rec list, and good night y'all.

EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

zane, itsbenj, hester, copymark, Jeff Simpson, nmjardine, LynChi, rubyr, xynz, devtob, Woody, frisco, wild salmon, Creosote, Doctor Who, dweb8231, missLotus, magnetics, whenwego, mrblifil, rabel, taonow, bincbom, Cedwyn, Chrisfs, aitchdee, jdmorg, psnyder, danthrax, Dallasdoc, Eddie in ME, virginislandsguy, Lawrence, CarbonFiberBoy, grrr, Schup, tomjones, xyz, Emmy, valadon, rmx2630, sebastianguy99, Armand451, Gowrie Gal, G2geek, maybeeso in michigan, radarlady, 3goldens, Tinfoil Hat, ichibon, LarisaW, democracy inaction, sap, Flint, grimjc, citizenx, Brooke In Seattle, reflectionsv37, fixxit, eru, Pam from Calif, jimreyn, LABobsterofAnaheim, Ice Blue, kazoo of the north, mightymouse, begone, BachFan, MeMeMeMeMe, Catesby, KenBee, MJ via Chicago, Ashaman, JVolvo, Preston S, doinaheckuvanutjob, onionjim, democracy is coming, Clive all hat no horse Rodeo, fiddlingnero, Little, Nulwee, bmcphail, krwheaton, pgm 01, bluicebank, DorothyT, byDesign, tgypsy, david mizner, operculum, dclawyer06, deepeco, pioneer111, TomP, rmonroe, skymutt, revm3up, ChocolateChris, weegeeone, HappyinNM, wayoutinthestix, elwior, jamess, TomFromNJ, tofumagoo, pickandshovel, alnep, DannyB, Gemina13, petulans, makettle, grsplane, pileta, lilsky, smash artist, petral, kevinpdx, Its the Supreme Court Stupid, TDreamer, eXtina, gramofsam1, fidellio, angelajean, VickiL, sharonsz, Publius2008, ericlewis0, Actbriniel, slice, Onomastic, Bob Duck, kirbybruno, anyname, xylonjay, TexasDan, poorbuster, UtahLibrul, laurnj, BarackStarObama, beka, SueM1121, antooo, sound of progress, bakeneko, Vatexia, Book of Hearts, Nightshade Q, SouthernLiberalinMD, IndieGuy, CA ridebalanced, Tyler R, Spirit Dancer, doroma, George3, evergreen2, BradyB, natfroiland, Ray Pensador, DamselleFly, Setsuna Mudo, poopdogcomedy, SixSixSix, Dewstino, Ecclesiastaverbs, dirk41

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site