"Come on aboard, I promise you you won't hurt the horse
We treat him well, we feed him well
There's lots of room for you on the bandwagon.."
-- R.E.M. "Bandwagon"
The group of courageous state Attorneys General speaking out against and standing up to the ridiculous and shameful multi-state settlement with the nation's largest banks gained a new member today. Kentucky AG Jack Conway is joining AG Schneiderman as well as the AGs of states like Massachusetts and Delaware in saying "not so fast" with a "settlement" that amounts to not much more than a "get out of jail free" card for the biggest players in the foreclosure mess.
Kentucky Attorney General Backs New York's Schneiderman In National Foreclosure Settlement Talks
Kentucky Attorney General Jack Conway has added his name to a list of state law enforcers who fear that a settlement being negotiated among government officials and big banks isn't backed by a sufficient investigation into potential wrongdoing.
As law enforcers approach a deal with banks to settle allegations that the companies improperly foreclosed on American homeowners, the banks are pushing for a broad release from liability for actions that have not yet been fully investigated, Conway said in a Thursday email to the Progressive Change Campaign Committee, obtained by The Huffington Post.
By raising these concerns, Conway has aligned himself with New York Attorney General Eric Schneiderman and law enforcers from other states who have questioned the adequacy of the groundwork underlying the settlement talks.
"Today's economic crisis was caused by Wall Street acting improperly," Conway, a Democrat, said in the email. "Every American has paid the price -- with families losing their homes, investors losing their money, and many Americans losing their jobs. There should be absolutely no criminal or civil immunity given to banks for activity that has not yet been investigated."
Kudos to AGs like Schneiderman and Conway who, by saying "not so fast," are standing up for the interests of those they were elected to represent as opposed to the interests of those who swindled this country into the mess we're in today. |
