Post by dgriffin on May 17, 2011 5:25:45 GMT -5
Don't expect to get much benefit from a fight between politicians and banks...........
Breaking News Alert
The New York Times
Mon, May 16, 2011 -- 11:02 PM ET
-----
New York State Investigates Banks' Role in Fiscal Crisis
Eric T. Schneiderman, the New York attorney general, has
requested information and documents in recent weeks from
three major Wall Street banks about their mortgage securities
operations during the credit boom, indicating the existence
of a new investigation into practices that contributed to
billions in mortgage losses.
Officials in Mr. Schneiderman's office have also requested
meetings with representatives from Bank of America, Goldman
Sachs and Morgan Stanley, according to people briefed on the
matter who were not authorized to speak publicly. The inquiry
appears to be quite broad, with the attorney general's
requests for information covering many aspects of the banks'
loan pooling operations. They bundled thousands of home loans
into securities that were then sold to investors such as
pension funds, mutual funds and insurance companies.
Read More:
www.nytimes.com/2011/05/17/business/17bank.html?emc=na
I remember as a little kid watching a fight between two groups of older boys as they vied for a box of candy bars that had literally dropped into our midst, from where I never knew, maybe the back of a truck as it drove by. I guess some of us little kids thought one group of older boys or the other would share the candy bars with us, so we chose our favorite group and rooted them on. You can guess what happened when the victors claimed the prize. None of us little sh*ts got anything.
Breaking News Alert
The New York Times
Mon, May 16, 2011 -- 11:02 PM ET
-----
New York State Investigates Banks' Role in Fiscal Crisis
Eric T. Schneiderman, the New York attorney general, has
requested information and documents in recent weeks from
three major Wall Street banks about their mortgage securities
operations during the credit boom, indicating the existence
of a new investigation into practices that contributed to
billions in mortgage losses.
Officials in Mr. Schneiderman's office have also requested
meetings with representatives from Bank of America, Goldman
Sachs and Morgan Stanley, according to people briefed on the
matter who were not authorized to speak publicly. The inquiry
appears to be quite broad, with the attorney general's
requests for information covering many aspects of the banks'
loan pooling operations. They bundled thousands of home loans
into securities that were then sold to investors such as
pension funds, mutual funds and insurance companies.
Read More:
www.nytimes.com/2011/05/17/business/17bank.html?emc=na
I remember as a little kid watching a fight between two groups of older boys as they vied for a box of candy bars that had literally dropped into our midst, from where I never knew, maybe the back of a truck as it drove by. I guess some of us little kids thought one group of older boys or the other would share the candy bars with us, so we chose our favorite group and rooted them on. You can guess what happened when the victors claimed the prize. None of us little sh*ts got anything.