"Gretchen Morgenson reported yesterday that the Obama Administration was pressuring the New York Attorney General Eric Schneiderman to drop his opposition to the so-called 50 state attorney general mortgage settlement. The short form is the banks want a “get out of liability for almost free” card, which is patently absurd. Not only have they caused a colossal economic train wreck, but sadly, they remain such central actors that they need to be involved in remediation. Letting them off cheaply would be tantamount to putting a band-aid on gangrene.
As much as having Morgenson reveal this heavy-handed effort to undermine an investigation in progress was important, Morgenson is an outlier at the Times. She is the only writer in thebusiness section who routinely exposes bad conduct in the corporate and financial arena. Too many of the other writers there engage in stenography, punctuated by random acts journalism. In fact, I’ve thought the only reason the Times keeps her is her Pulitzer prizes make it impossible for them to get rid of her"............READ MORE
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