published Wednesday, March 9th, 2011

Region’s attorneys general hear earful in D.C.

By Matt Laslo

WASHINGTON — The attorneys general from Tennessee and Georgia are in the nation’s capital this week collaborating with their counterparts from across the country, exchanging ideas with Justice Department officials, and hearing an earful from angry citizens.

As the conference got under way a group of sign-waving protesters crowded outside the downtown hotel where the AG’s are meeting, demanding criminal charges be brought against bankers who helped fan the subprime mortgage crisis.

Attorneys general from all 50 states are collectively investigating banks over their subprime lending practices, but they haven’t announced any plans to criminally prosecute bankers.

“We want to tell the attorneys general that they got to go toe to toe with the big banks; they got to stand up to the big banks,” said Hugh Espy, executive director of Iowa Citizens for Community Improvement.

Some of the protesters said their homes were foreclosed after banks jacked up their monthly payments without warning or locked them into loans they could never afford.

Some reports have leaked that AGs are offering the banks a settlement of $20 billion. Members of the crowd said that amount is too low, and the AGs refused to comment on the report.

“Obviously there are a lot of people frustrated about the situation in the housing market. It continues to be a problem,” said Tennessee’s top prosecutor, Robert E. Cooper Jr.

He said he’s committed to investigating wrongdoing by the nation’s largest financial firms, but he wouldn’t say if he thought criminal charges were warranted.

In the wake of the economic slump, Cooper said one of the most important areas where his office is working with federal officials is on financial fraud.

“Because of the financial downturn we’ve seen more of that,” he said. “Ponzi schemes rely on good times to keep going and when the economy takes a downturn, then those tend to get exposed.”

It’s a different case in Georgia. In 2007 the state passed its first law dealing with false claims but it’s limited to Medicaid fraud.

“Frankly I’d like the fair claims act to be broader in scope to give us the necessary tools to assist the consumers,” said the state’s new attorney general, Sam Olens.

He said some members of the Legislature are trying to revise that bill, though he doesn’t think his jurisdiction will be expanded until 2012 at the earliest.

Contact freelance reporter Matt Laslo at 202-510-4331 or mlaslo@gmail.com. Follow him on Twitter: http://twitter.com/MattLaslo.

4
Comments do not represent the opinions of the Chattanooga Times Free Press, nor does it review every comment. Profanities, slurs and libelous remarks are prohibited. For more information you can view our Terms & Conditions and/or Ethics policy.
TERRORALERT said...

WALL STREET PROTESTS...NOT ANTI WALL-STREET AT ALL, BUT INSTEAD RACIALLY MOTIVATED VIOLENCE AGAINST WHITES KNOWN AS WELL UNDER ZIONIST "TRANSFER OF OWNERSHIP" FROM HANDS OF WHITE AMERICANS TO SO CALLED "MINORITIES"(COMMUNISM) http://multiculturalismisterrorism.blogspot.com/ THIS NEWS IS RELATED TO "WHITES AREN’T WELCOME IN AMERICA ANY LONGER" !!! http://www.youtube.com/user/BostjanAvsec <== OBAMA'S HEALTH CARE RECORDED LIVE IN 2009. Facts about lunatic ZIONIST Obama/Bush's twilight zone administrations(HORROR) or genocide against white population.

VISIT "MULTICULTURALISM = TERRORISM & OBAMA = OSAMA" http://stateofterror.blogspot.com/ OR “OBAMA = STALIN = BUSH or USA = SOVIET UNION” http://avsecbostjan.blogspot.com/ FROM 911 TO AMERICAN WHITE REFUGEES FILLING ASYLUM ABROAD RIGHT NOW !!! LEARN TRUTH PER WHO, HOW, AND WHY HAVE RUINED YOU...

October 19, 2011 at 5:56 p.m.
Rtazmann said...

SAD PART ABOUT OUR GOVERNMENT IS THEY ARE SO FAR REMOVED FROM MAINSTREAM AMERICA IT STINKS.....AND UNTIL WE CHOOSE TO CAN THEM THEY WILL DO BAD BUSINESS AS USUAL..

January 9, 2012 at 8:59 p.m.

YES , WE CAN..WE WILL WIN IN WAR ON TERROR (30 whities or what are terrorists will never come back alive from Afghanistan...thank you lord..aamen).

ARIZONA = NORWAY = THERE WAS NO SHOOTING, BUT “AFTERLIFE” FLASH MOB INSTEAD !! Tear gas and theater(guilt or blame and shame weapon) were used on faces of multiculturalism maniacs while calling YOU a terrorists in our own countries during bogus “economic crises” !!! 911(TWIN TOWERS) = NORWAY BOMBING OR STATE SPONSORED TERRORISM, HOWEVER, WAS REAL !!

Whitie is fighting war on terrorism just to come home and be pronounced as terrorist...turned in Timothy, jobless, homeless ..YESSS, WE CAN(FISH CAN & TENT CITY USA CAN)...

Don't worry O(s)bama, you have just saved lots of Dollars in your DEBT DEALS(DEAD & ILL) as those America best (Navy Seals) would also grew older !!

WAKE UP PEOPLE BEFORE IT GETS ALL TO LATE ON PLANET APE !!! TEARS WON'T DO YOU ANY GOOD AS BUSH STATED "THAT'S WHAT THEY ARE PAID FOR"(to die ) !!

VISIT OBAMA = STALIN = BUSH and USA = SOVIET UNION http://avsecbostjan.blogspot.com/ OR http://stateofterror.blogspot.com/ FROM 911 TO WHITE REFUGEES FILLING ASYLUM ABROAD RIGHT NOW AND MUCH MORE !!!

February 24, 2012 at 5:14 p.m.
please login to post a comment

videos »         

photos »         

e-edition »

advertisement
advertisement

Find a Business

400 East 11th St., Chattanooga, TN 37403
General Information (423) 756-6900
Copyright, Permissions, Terms & Conditions, Privacy Policy, Ethics policy - Copyright ©2014, Chattanooga Publishing Company, Inc. All rights reserved.
This document may not be reprinted without the express written permission of Chattanooga Publishing Company, Inc.