New York AG Battles Wall Street To His Supporters' Glee

New York Attorney General Eric Schneiderman (AP)

While President Obama has recently tried taking a more populist, "left-leaning" bent with his new tax proposals, one New York politician has rarely strayed from those roots: Attorney General Eric Schneiderman. Thanks to his refusal to back down on his investigation of a $20 billion dollar bank settlement, Schneiderman has been the subject of a raft of articles hailing him as one of the few leaders who practice their professed affinity with the left, along with Massachusetts senatorial candidate Elizabeth Warren and Senator Bernie Sanders of Vermont. "Honestly, my day-to-day life hasn't changed," he tells the Times. "I'm doing my job as a prosecutor."

If the banks, which include Bank of America, Wells Fargo, Citigroup and JPMorgan Chase, get their way, they will pay $20 billion to settle claims regarding mortgage market misconduct. In return, they will receive immunity from future lawsuits, and thus any meaningful investigation. "There was a lot of misconduct, and it needs to be looked into." That misconduct includes forging or using "robo-signers" on foreclosure notices.

Schneiderman has been pushed by the White House to go forward with the deal, and was recently kicked off the committee of states attorneys general who are charged with reviewing the settlement's carefully negotiated terms. He's beginning to find supporters, such as the attorneys general of California, Delaware, Nevada, Massachusetts, Kentucky and Minnesota, and from regular citizens, who have donated $4,179 during two weeks in August and September. The donations came from 36 people in 34 cities in 19 different states.

Former New York Attorney General Eliot Spitzer, told the paper that Schneiderman's getting the reaction because "there's a reservoir of anger out there, which can quickly turn into support for those who are doing the right things." Anger? At Wall Street?

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By Christopher Robbins in News on October 2, 2011 3:10 PM

Comments [rss]

Dan Smith

Funny enough, Eric Schneiderman's office is right across the street from Zuccotti (120 Broadway). This reminds me of those Colbert/Stewart rallies in DC, right before election day, preventing followers from actually doing meaningful work back home for candidates on the streets. Good intentions maybe...

splicernyc

But if he goes after Wall Street, the whole world might explode if one rich person loses a penny.

LazyNanny

Well I might be impressed if he ever comes cleans about his own hit and run crimes.

EdwardAmame

This is all you got? A fender bender with a parked car? geez you are pathetic.

Dan Smith

Ha! Bankers have virtually gotten away with murder but instead, LazyNanny is worried about a soundbite from 2010. Sounds like a Bachmann campaign advisor.

LazyNanny

He lied about it. To the police. Running for AG and he lied about a simple fender bender. How can you trust someone who would lie about something so lame?

lexluthor666

Someone with the power to actually affectuate change. Why aren't the OWS protesters out there logistically supporting progressive candidates for 2012?

SFNY

How do you know they're not?

Plus, if Schneiderman is already doing his job, protesters can turn their attentions elsewhere.

lexluthor666

Because...they're here protesting "greed" in NY and not fanning out to places where decisive elections could help make a difference? (Yes, Schneiderman is doing his job. Do they know? Are they showing him support? And why aren't they massing to help people like Elizabeth Warren on the campaign trail instead of screaming down streets in NY?)

They're really more likely to achieve something closer to what they're complaining about by helping people who share their beliefs seize power than complaining about the banks in a park.

SFNY

Maybe crowds aren't massing at Warren's office today, but I ask again, how do you know people aren't working on both?

People can march about one cause and then lend their support to something else later. Some people supported two different causes yesterday by attending two rallies. Someone could have gone home and made a donation to Warren's campaign fund. Some of yesterday's attendees might already be volunteering for Schneiderman.
Listen, if Schneiderman has a "Prosecute the Guilty" rally, or when Elizabeth Warren decides to hold her campaign rally, the turnouts will be huge. If either of them put out a call for volunteers, people will show up.

You're obviously concerned about the situation, and you have some good ideas, so what are you planning to do for them?

EdwardAmame

Not election season yet. there's a time and a place etc.

SFNY

I know. Tell it to Lex. He's confused.

soothsayer

2012 is a long time from now. american voters typically like to make decisions at the last minute.

lexluthor666

Yes, but the campaigning has long since started. They should go make their support known for progressive candidates like Elizabeth Warren, cheering her everywhere, and go hound people like Perry who are likely to make things worse. How bout that?

Or they could be educating themselves deeply on the issues in the meantime and then running themselves in races not currently contested by progressives.

I can think of a million and one ways to channel this energy to productive ends. My gut feeling tells me it won't go to support them, because it's easier and cooler to fight the man in a street protest.