What election means for foreclosure mess
Although Thomas Miller, the attorney general from Iowa who is taking the lead in the 50-state probe, won his bid for an eighth term in office on Tuesday, not all of the AGs leading this probe were as fortunate. Ten of 12 AGs on the executive committee heading the probe either ran for re-election or sought another elected office Tuesday. Of those, six will not be returning to office next year either because they lost a re-election bid, chose not to run for re-election, or they stepped down for another reason Ohio’s Richard Cordray, the outspoken critic of Wall Street and the only attorney general to actually sue one of banks involved (he sued GMAC Mortgage in early October for fraud), lost his seat to conservative Mike DeWine. As today’s WSJ article points out, Mr. DeWine’s website makes no mention of the foreclosure crisis. His campaign manager, Mary Mertz, said in an interview Wednesday that although the new AG hasn’t yet evaluated the GMAC lawsuit and decided whether or not it will continue, the foreclosure document mess “was not a campaign issue at all.” Mr. DeWine, who is celebrating his victory with his family, was not available for comment.