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Fri Jan 27, 2012, 01:59 PM

Federal Task force on Mortgage Fraud issues 11 subpoenas..

Friday, January 27th, 2012, 10:53 am

"The new federal task force led by New York Attorney General Eric Schneiderman sent subpoenas to the 11 largest financial institutions in the past few days as part of its investigation into possible residential mortgage-backed securities fraud."

http://www.housingwire.com/2012/01/27/new-federal-mortgage-fraud-task-force-subpoenas-11-banks

More:

"Schneiderman said in a press conference Friday that he will be joined by Delaware AG Beau Biden, Massachusetts AG Martha Coakley, Nevada AG Catherine Cortez Masto, California AG Kamala Harris and Illinois AG Lisa Madigan.

U.S. Attorney General Eric Holder said 15 lawyers and investigators are working with the group. The FBI will add 10 agents, and another 30 lawyers and staff will join the group.

The Securities and Exchange Commission will also participate. SEC Director of Enforcement Robert Khuzami said there "would be no stone unturned, no dark corner unexposed to the light."

Add this phrase to the list of memorable ones...
"no stone unturned, no dark corner unexposed to the light."

We'll see......

6 replies, 1264 views

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Arrow 6 replies Author Time Post
Reply Federal Task force on Mortgage Fraud issues 11 subpoenas.. (Original post)
dixiegrrrrl Jan 2012 OP
Old Codger Jan 2012 #1
mike_c Jan 2012 #2
Frustratedlady Jan 2012 #3
Po_d Mainiac Jan 2012 #4
dixiegrrrrl Jan 2012 #5
JDPriestly Jan 2012 #6

Response to dixiegrrrrl (Original post)

Fri Jan 27, 2012, 02:04 PM

1. OK

I am not too cynical, but I will believe it when I see it... big show maybe but how much will really get done about it. Have to wait and see.

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Response to dixiegrrrrl (Original post)

Fri Jan 27, 2012, 02:16 PM

2. when I see the guillotines...

...I'll be impressed. Until then, I'll wait and see. It's not time to put the torches and pitchforks away, yet.

on edit-- it's encouraging to see that Kamela Harris is on that commission, though.

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Response to dixiegrrrrl (Original post)

Fri Jan 27, 2012, 03:57 PM

3. This is super! Those gals will keep it going...

They are furious over the whole scam and Schneiderman/Biden will be a good team. If nothing else, having the FBI, SEC and all those lawyers ought to scare the britches off some of these clowns.

This is great news and I hope everyone stands behind them.

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Response to dixiegrrrrl (Original post)

Sat Jan 28, 2012, 04:13 PM

4. Perpective needed

Gonna be 55-60 agents and attorney's assigned to a case that is infinitely larger than the S&L scandal. Just a minor difference, the S&L probe had around a thousand agents.

What a white(house)wash job.

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Response to Po_d Mainiac (Reply #4)

Sat Jan 28, 2012, 04:27 PM

5. Good information to know.

Esp as one of the excuses Holder used, as did the FBI, awhile back, was both agencies were "too understaffed" to take on such an onerous job.

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Response to dixiegrrrrl (Original post)

Tue Jan 31, 2012, 01:15 PM

6. Good news

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