Subject: Fwd: News Journal op/ed, gov's phone call on Sunday
From: "Beau" <[email-masked]>
To: "Biden Hunter" <[email-masked]>
Date: Fri, 12 Aug 2011 09:44:28 -0500

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Begin forwarded message:

> From: Joe Rogalsky <[email-masked]>
> Date: August 12, 2011 8:59:35 AM CDT
> To: Beau Biden <[email-masked]>
> Subject: News Journal op/ed, gov's phone call on Sunday
> 

> 1)  I don't know why Jack wants to talk to you on Sunday. I think it may be because he has questions about our foreclosure bills, especially the mediation program. But I don't know that for sure. He signed the Nuisance Abatement bill before he left for Chile. He did veto the Municipal Elections bill this week, which DOJ worked on but wasn't one of our high priorities, because he didn't like the new powers given to the Elections Commissioner. Besides the foreclosure package, the only other major bill of ours he hasn't signed,is Chronic Violators, but I have not heard if he has specific questions about that one or not. I'll ask Larry and Dave Ormond to put together some bullet points for you just in case.
> 
> 2) You've probably seen this, but in case you haven't, Sweeney did a nice editorial for us earlier this week -- 
> Delaware's Attorney General Beau Biden intervened Wednesday against a proposed $8.5 billion settlement between Bank of America Corp. and Bank of New York Mellon Corp. The action goes to the heart of a serious moral and financial question facing the country.
> Attorney General Biden said he filed a motion in New York Supreme Court to protect Delaware investors. The New York attorney general made a similar move on behalf of his state's investors last week.
> 
> The agreement is aimed at settling claims brought by investors who purchased mortgage securities that eventually went bad. The securities came from Countrywide Financial, the mortgage giant that Bank of America took over. Several financial industry observers called the proposed settlement a big leap forward in ending the confusion over mortgages  securitized during the housing bubble.
> 
> Both Mr. Biden and New York Attorney General Eric T. Schneiderman have raised fundamental questions about the controversial mortgage-backed securities that did so much to bring on the financial crash. This is in addition to the widely reported sloppy  and, in many cases, illegal mortgage origination practices that stuck would-be homeowners with bad deals.
> 
> However, the settlement would put an end to these and many other questions that still need to be answered. It is, as one critic said, an attempt to do privately what an investigation by all 50 state attorneys general is trying to accomplish.
> 
> But Messrs. Biden and Schneiderman are right. The mortgage mess just won't go away until all of this is answered. 
> 
> 
> 
>=2