Tuesday, October 12, 2010

Ohio v. Wall Street

In the New York Times, there is an article regarding Ohio's Attorney General, Richard Cordray. Mr. Cordray recently filled a lawsuit against GMAC Mortgage because of fraudulent affidavits for hundreds of Ohio foreclosures. This is a very ambitious move and is typically a bigger move than most Attorney Generals would take. However, Mr. Cordray has made a name for himself to take on such giants as Merrill Lynch and American International Group. The reason he takes on such a challenge is that federal regulators are not doing anything yet and action needs to be taken. It is quite gutsy for him to move into action while the federal government lags behind but he has won before and seems confident to find justice here as well.

http://www.nytimes.com/2010/10/12/business/12avenge.html?pagewanted=1&_r=1&adxnnl=1&ref=todayspaper&adxnnlx=1286902961-g0xA2Ogyt5YnN6wYpvod2A

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