Saturday, January 28, 2012

Schneiderman breaks it down on Maddow's show

For the last few days I've been following the story about President Obama's announcement in his SOTU on a new unit to tackle the mortgage issues that led to the 2008 economic collapse. You can read what I've come up with here and here.

But last night NY Attorney General Eric Schneiderman went on Rachel Maddow's show and BROKE IT DOWN. If you want to really understand what's going on here, take a few minutes to listen. (Oh, and you've also got to love the props Rachel gives to Steve Benen at the beginning of the clip.)

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  1. What the take-away was that each of the AG's were working on their own turf, all by themselves. Now, not only can they work together, but what the President has done has given them the keys to the entire arsenal. I'm sure in the banking industry, the market for Depends just went the roof.

    1. He also made a GREAT point about the sanctions in NY being tougher than the federal ones. That seems a huge issue to me. Its why he's been able to play the role of hero while folks dump on Holder. The truth is - they have had very different hands to play. Now they're working together to get the most bang for the buck. That - as you say - is where they'll take it to the banks.

    2. But the other thing he mentioned was "statute of limitations." That is, he may have found something prosecutable, but he can't touch it under NY Law because the time is gone. On the other hand, the feds can take it and run, because the clock is still running for them. Bringing the IRS into the mix is also a genius move.

  2. I can't but be almost overwhelmed by the awesome range of issue PBO has pulled up on his plate and found a unique way to address it. We are forever in his debt.

    SP thanks for your dedication to this issue.


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