California is considering joining New York and Delaware in a wide-ranging investigation into Wall Street’s role in the mortgage meltdown that could lead to criminal charges against financial executives. California Attorney General Kamala Harris met with New York Attorney General Eric Schneiderman on Thursday in San Francisco to discuss cooperating on the investigation, which is already one of the broadest to probe how banks encouraged the financial crisis through the creation of risky financial instruments backed by mortgages.
California may join probe of Wall Street’s role in mortgage meltdown
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The Federal Home Loan banks receive billions annually in subsidies, but are skirting their responsibility to support our nation’s housing troubles, argues Sharon Cornelissen, Director of Housing at the Consumer Federation of America.