Schneiderman: Task Force Will Go After 'Stuff That Blew Up the Economy'
Schneiderman said the settlement won’t impede that effort at all, and that it will focus state and federal authorities in an unprecedented manner.
“The president has been absolutely clear: we’re going after the stuff that blew up the economy in our working group,” Schneiderman said. “We’re going after the possibilities of tax fraud, insurance fraud, securities fraud. We’re going to look at this stuff very closely. We have the jurisdiction, we have the resources, and we have the will.”
While there’s been no federal prosecutions of high-ranking Wall Street executives for their role in the financial crisis, Schneiderman said boldly that his group plans to end that. “The clarity the president provided this past week really was that we are going to step up on the principle of one set of rules for everyone, equal justice under the law,” Schneiderman said. “You can’t have some institutions that are protected by the law, not allowed to fail, and not held to account, and all the other companies in America are allowed to fail. You can’t have equal justice under law and too big to fail.”
Towards the end of the interview, he expects some serious movement and action within six to eight months—or else he’d be “very disappointed.”
http://www.thenation.com/blog/165940/schneiderman-task-force-will-go-after-stuff-blew-economy
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