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Yet Another Big Lie: Mortgage Fraud Investigation Not Staffed

Yves Smith @ Naket Capitalism - The Administration has managed the impressive task of operating in a more cynical fashion than even its worst critics predicted.

Remember the widely ballyhooed mortgage fraud investigation, announced at the State of the Union address? This was the shiny toy that succeeded in getting New York attorney general Eric Schneiderman to abandon his opposition to the mortgage settlement. Schneiderman had been the defacto leader of the dissenters by virtue both of being the first to stand against the effort and by having the Martin Act. Suborning Schneiderman put the objecting state attorneys general in disarray and enabled the Administration to push this toxic deal over the finish line.

It was pretty obvious Schneiderman had been had.  Read more.

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