SOTU: Obama Announces Bank Fraud Investigation
Source: CMD
Bank Fraud Investigation
President Obama did exactly what hundreds of thousands of us [ed note: MoveOn activists] have been calling on him to do—he announced a federal investigation into Wall Street. Here’s what he said:
“I am asking my Attorney General to create a special unit of federal prosecutors and leading state attorneys general to expand our investigations into the abusive lending and packaging of risky mortgages that led to the housing crisis. This new unit will hold accountable those who broke the law, speed assistance to homeowners, and help turn the page on an era of recklessness that hurt so many Americans.”
MoveOn Press Release Continues
The best part is, progressive champion New York Attorney General Eric Schneiderman is co-chairing the investigation and will make sure it stays on track.
Just weeks ago, this investigation wasn’t even on the table, and the big banks were pushing for a broad settlement that would have made it impossible. Your work changed all that.
This is truly a huge victory for the 99% movement. Hundreds of thousands of us signed petitions, made calls, and held signs outside in the cold to make this issue something that President Obama couldn’t ignore. Here’s some of what MoveOn members and our allies did to bring about this victory:
- Over 360,000 of us signed a petition calling on President Obama to fully investigate the banks.
- We delivered that petition at over 150 events last Thursday around the country at Obama for America campaign offices.
- Our pressure on state attorneys general stopped the rush to a sweetheart deal that would have precluded this investigation.
- And we’ve called, Facebooked, and tweeted at the White House repeatedly to ask the president to launch this investigation.
Progressive victories don’t come that often, and there’s so much more to do. But this is a very big one. Thank you for all you did to make it happen!
–Elena, Emily, Lenore, Robin, and the rest of the [MoveOn]team
Posted by Gypsy Chief
