According to this New York Times story just published by Gretchen Morgenson, Secretary of Housing and Urban Development, Shaun Donovan, apparently is trying to apply pressure on hold out NY State Attorney General Eric Schneiderman regarding the $20-$25 billion mortgage settlement. Donovan claims they need to get this done in order to provide mortgage modifications for homeowners. The big Wall Street banks are also seeking immunity from further investigation to potentially hundreds of billions of dollars in fraud. $25 billion will be chump change to these guys if they can get the 50 States Attorneys to take the deal.
While it appears most States Attorneys General are eager to sign on to the agreement, NY Attorney General Schneiderman has not. He has been one of the few hold outs who doesn’t appear ready to cave. No the President Barack Obama’s administration is now publicly pressuring Schneiderman, I would expect he’ll fold shortly.
When this deal is done, and it will get done, watch to see if there are any special deals or positions that come the way of NY Attorney General Schneiderman. I’m holding out hope that he’ll hang in there on principal and not cave to the pressure, but after all, this is all politics and money trumps the law.
The banks get immunity. The 50 States Attorneys General will each now have a better shot at winning their state’s next governor’s election, some homeowners will get loan mods but only to fail again in the near future eventually leading to foreclosure. Everyone’s happy.
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[...] Is Secretary of HUD, Shaun Donovan, Pressuring NY State Attorney General Schneiderman on Behalf of W… (johnmurphyreports.com) Share this:FacebookTwitterEmailPrintLike this:LikeBe the first to like this post. This entry was posted in Financial/economic information, Illuminati/Terrorism, Political and tagged Beau Biden, Catherine Cortez Masto, Donovan, Eric Schneiderman, New York, New York Attorney General, Thomas J. Perrelli, Wells Fargo. Bookmark the permalink. ← PressTV: ‘Iran transferring centrifuges to Fordo’ [...]