In 2010, the 1199SEIU Executive Council voted unanimously to endorse then-State Senator Eric Schneiderman in a highly competitive campaign to become New York’s Attorney General. At the time, President George Gresham said of Schneiderman, “His commitment to working families and social justice are what makes him the strongest candidate in this race and we will work incredibly hard across the state to get him elected.”

1199SEIU members did work hard, Schneiderman was elected and he has been serving as Attorney General since January 2011. As promised, his work has focused on standing up to powerful interests on behalf of everyday New Yorkers. He has made it a top priority of his administration to hold accountable those whose misconduct led to the collapse of the housing market and to provide relief to homeowners. In New York State alone, an average of one in 10 mortgages is at risk of foreclosure.

Last month, President Obama announced the creation of a National Residential Mortgage-Backed Securities Working Group that will investigate those who, through the pooling and sale of residential mortgage-backed securities, have contributed to the financial crisis. The effort, led by Schneiderman, brings together the Department of Justice (DOJ), several state law enforcement officials and other federal agencies. It will build upon ongoing state and federal investigations, and also launch new ones.

“The goals of this joint investigation will be to hold accountable any institutions that violated the law; compensate victims and help provide relief for homeowners struggling from the collapse of the housing market, caused in part by this wrongdoing; and help us finally turn the page on this destructive period in our nation’s history,” Schneiderman said.

“The American people deserve nothing less than a thorough investigation into the global financial meltdown to ensure nothing like it ever happens again, and this effort is a major step in the right direction.”

Learn more about the Residential Mortgage-Backed Securities Working Group and the Financial Fraud Enforcement Task Force at: www.stopfraud.gov