In this day and age, it is courageous for any elected official to go against the large Wall Street banks that have been victimizing Americans for years. The Justice Department, along with other federal agencies, must continue to question and investigate the banks’ unreliable and sleazy modes of operation.
By pressuring the attorneys general’s executive committee to pass this fruitless proposal, President Obama and his administration are allowing the big banks, generous campaign contributors, to once again get away unscathed for their chancy and untrustworthy practices. In times like these, we need leaders like Schneiderman to challenge the big banks, making sure that victims receive justice and restitution and that overall reform changes the mortgage industry.
To allow a settlement to be reached that hinders future investigations into large banks’ foreclosure and mortgage practices is criminal. Fight on, Mr. Attorney General.
Al D’Amato, a former U.S. senator from New York, is the founder of Park Strategies LLC, a public policy and business development firm. Comments about this column? ADAmato@liherald.com.