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We have a Fox Business a -- for your right now -- -- -- go US attorney general Eric Holder laid out steps of the Obama administration is gonna take.
To prosecute those responsible for the mortgage meltdown rich ads in just got back from -- press conference in the announcement so what are the attorney general -- -- Well it's the announcement -- of the residential mortgage backed securities working group a number of federal and state agencies and are gonna get together and look for any instances of fraud.
That happen during the financial crisis and also the attorney general announced new efforts.
-- And of justice over the last couple of days has issued civil subpoenas focusing on issues.
Related to the market for residential mortgage backed securities to eleven different financial institutions.
And you can expect more.
An attorney general wouldn't get into the costs here Cheryl -- for this new task force are working group currently there will be.
Fifteen attorneys investigators and analysts at the Justice Department will be working on this and assigned to this.
Ten FBI personnel that will be assigned it is -- the coming weeks another thirty attorneys.
Investigators and support staff from US attorney's offices around the country we've asked the Department of Justice how much this work -- gonna cost taxpayers.
They have yet to get back to us within answer but they say they will.
Is -- redundant -- I mean considering the fact that they've been attempting to prosecute and chase.
Financial criminals for three years and frankly -- -- lets us.
They have been asked a number of times most recently last month and saw a special on sixty minutes where the head of enforcement was asked how and we had no headline prosecutions here.
Now throughout this entire press conference and debt through what we've been here -- the Department of Justice.
For some time now they are using unprecedented measures they have long term investigations on going on precedent -- an unprecedented amounts of coordination here.
Yet they feel the need to create this task force Chuck Grassley senator from Iowa -- short while ago said.
-- over -- efforts basically are just a press release collection agency.
Utilized by the Department of Justice to collect examples of investigations -- prosecutions.
That would otherwise have been brought -- At least at least settle lawyers are gonna have jobs that's that's -- important.
Our current judgment great stuff thank you very much for getting on the breaking news well what are.
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