On Sunday, roughly one thousand people from liberal community organizing group National People’s Action showed up at Tim Geithner’s house to ask that he investigate the banks. “Are you with the people”, asked these activists. In response to this exceptionally mild pressure, the administration and New York “Attorney General” Eric Schneiderman have decided that they have no choice but to do a bit more PR around the task force. They have doubled its size, and they have appointed a coordinator.
Senior administration officials and New York Attorney General Eric Schneiderman said they’re busy behind the scenes doubling their team to more than 100 federal and state financial experts and drawing on staff in 10 U.S. attorneys offices around the country. Matthew Stegman, an assistant U.S. attorney, has been tapped as the group’s lead coordinator, according to three sources familiar with the task force’s work.
The unit has also delivered more than 20 civil subpoenas, collected more than a million documents and deposed many witnesses as it digs through the work of bankers, mortgage brokers, appraisers and others who from about 2004 to 2007 helped millions of Americans buy homes they couldn’t afford at prices that didn’t match their property values — all while bundling the mortgages into securities for sale to investors.
20 civil subpoenas on appraisers and brokers? How… adorable! And they finally tapped a coordinator, an assistant US Attorney based in eastern California. That’s a clear tell, appointing someone far from a place where they could easily coordinate among multiple agencies.
The truth is, there is no task force. Obama is lying. Schneiderman is lying. The Department of Justice simply took various individuals already working on cases involving foreclosure rescue scams and petty mortgage fraud, and designated them a new task force. It’s absurd. The reality is that Obama and Schneiderman are both working on behalf of financial elites who will fund their campaigns and pay them a lot of money when they are out of office. That’s the game, as I noted this morning in discussing Bill Clinton’s $80 million payday from banks (among other entities).
If you look at the video above, you’ll see that protesters are asking the question of whether Geithner is with the banks or with the people. Um, he’s with the banks. That’s been clear for years now. The real question is why protesters are even bothering to ask. And I suspect the answer is that no matter how many times Barack Obama proves himself to be a corrupt and dishonest politician, it’s too painful to concede that those who want social justice in America are truly without representation.