Toxic mortgages

Remember that $26 billion settlement that 49 attorneys general announced on Thursday with some of the country's biggest banks to let toxic mortgage bygones be toxic mortgage bygones? It may not exist yet.

Bank of America and the Obama administration are pushing for a settlement that they say would help homeowners, but would preclude any further litigation related to odious aspects of the toxic mortgage-backed securities business.

New York Fed Board Member Kathryn Wylde even accosted Schneiderman for his opposition to the settlement at Hugh Carey's funeral a few weeks ago.

Letters sent by Eric Schneiderman to the 22 firms that are part of the settlement noting that other investors may have been left out, and request information "regarding participation by both your firm and clients"