Schneiderman: President Romney Would Kill Mortgage Fraud Probes
ICYMI: Gov. Andrew Cuomo might be avoiding the Democratic National Convention until the last possible minute, but state AG Eric Schneiderman plans to be in North Carolina for several days and enthusiastically participate in supporting President Obama’s nomination for re-election.
Schneiderman said he has a personal stake in the contest between Obama and Mitt Romney, predicting that the national mortgage fraud investigations he is continuing to pursue at the national level after being tapped by Obama to serve as one of five co-chairs on a Justice Department task force would come to a rapid halt if the GOP takes control of the White House.
“I will attend the convention,” the AG told me during a CapTon interview last night. “I want to join the crew enthusiastically supporting our president for re-election.”
“I assure you that if President Obama is not re-elected that support for the kinds of investigations of corruption in financial services or problems in the mortgage market probably will die down pretty quickly. I don’t think President Romney is that interested in going after his colleagues in finance and financial manipulation in particular.”
“I’ll be there for several days, and I don’t know that I’m going to have a speaking role, but I’m certainly going to be there with my fellow New Yorkers to participate, and I’m very excited to be there and working to see that the president gets re-elected.”
Schneiderman’s convention comments came on the same day Gov. Andrew Cuomo explained that he’s just too busy taking care of things here in New York to attend more than the final day of the convention.
(He doesn’t have much of a choice, really, since his absence on Obama’s big day would certainly set tongues wagging that he doesn’t want the president to win in November because it would improve his own chances at winning the White House in 2016).
Cuomo and Schneiderman have had a rocky relationship. It’s no secret the former state senator wasn’t Cuomo’s first choice to succeed him in the AG’s office in 2010 (he reportedly preferred Nassau County DA Kathleen Rice, largely for the balance she would have brought to the nearly all male, downstate dominated statewide ticket).
And the governor has consistently sought to one-up the AG – consider yesterday’s big crackdown by Cuomo on synthetic drugs, something Schneiderman has been working on combatting for weeks now.
Cuomo’s reluctance to let go of the AG’s office was made clear in 2011 when he moved to create an uber-financial oversight agency – the Financial Services Department – and installed his longtime top aide Ben Lawsky at its head.
Initially, the administration tried to give the Financial Services Department the authority to use the Martin Act, which former AG Eliot Spitzer infamously employed to go after Wall Street. Cuomo quickly backed off that effort after pressue from the press, the business community and the AG’s office.
According to this morning’s NY Post, Lawsky is “stealing the spotlight away” from Schneiderman with his Wall Street enforcement actions. His latest move was to allege that alleged that UK banking titan Standard Chartered violated US law by going business with Iranian banks for nearly 10 years.
Lawsky called Standard a “rogue institution.” But some observers have suggested it’s Lawsky himself who’s a “regulator gone rogue.”
Apparently, the Treasury Department and Federal Reserve are none too pleased with him, either.
|Print article||This entry was posted by Liz Benjamin on August 8, 2012 at 12:54 pm, and is filed under 2016, Anthony Weiner, Attorney General, Eric Schneiderman, Uncategorized. Follow any responses to this post through RSS 2.0. Both comments and pings are currently closed.|
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