Attorney General Eric Schneiderman on the Occupy Movements and Being ‘Sheriff of Wall Street’

eric schneiderman wall street Attorney General Eric Schneiderman on the Occupy Movements and Being Sheriff of Wall Street
Attorney General Eric Schneiderman (Getty)

New York Attorney General Eric Schneiderman talked about how he earned a reputation as “Sheriff of Wall Street” and gave his thoughts on the Occupy movements during an appearance on the public radio “Marketplace” broadcast today. Attorney General Schneiderman said he thinks many Americans share the concerns expressed by Occupy Wall Street and the other protests it inspired.

 

 

Attorney General Schneiderman and Delaware Attorney General Beau Biden recently decided to launch investigations into whether banks handled mortgages and foreclosures improperly prior to the financial crisis. The Attorney General explained to “Marketplace” that he started the investigation because prior inquiries only focused on conduct at the banks after the financial collapse.

“The banks have been demanding releases for other conduct — for things that haven’t been investigated. And Beau and I and some other A.G.s have said we’re not giving releases for things that haven’t been fully investigated, we’re not giving releases for things that really aren’t the subject of the discussions underway,” Attorney General Schneiderman said.

Attorney General Schneiderman and his predecessor, former Governor Eliot Spitzer, have both been called the “Sheriff of Wall Street” during their time in office.

“I think that the term really became popular back when Eliot Spitzer was the A.G. and we were in an era where, during the Bush administration, a lot of the federal agencies were slow to please Wall Street,” the Attorney General said.

Attorney General Schneiderman also discussed the Occupy movements that have spread from the financial district in the last two months. He called the protests “the more visible tip of a big iceberg” and said they are a manifestation of frustration with the financial industry felt by many people in the country.

“I think that when you cut through some of the more flamboyant stuff that gets a lot of media attention, what I hear from Occupy Wall Street and the other Occupy movements is really the same thing I hear from most Americans. At the bottom, it’s the idea that they’re demanding accountability; they have a sense that the banks got bailed out, we’re holding the bill and no one was held accountable,” Attorney General Schneiderman said.

One thought on “Attorney General Eric Schneiderman on the Occupy Movements and Being ‘Sheriff of Wall Street’

  1. I’m still waiting for Schneiderman and Biden to talk about indictments.  More than $700 billion of equity vanished during the housing bubble and all the illegal shenanigans that followed it.  There had to be crimes committed, and I’m waiting for a grand jury, at least, to look into some of the stuff that went on on Wall Street and with the derivatives BS that followed. Lots of big bankers went to prison following the S&L crisis, and this has got to be worse.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s