and they were able to do two things. one, avoid millions upon millions of dollars of recordation fees. and two make them able to slice and dice these mortgages and mortgage-backed securities more readily accessible and asser for them to do. they did that in private. they basically took our recordation system national and private, and they screwed it up. and we allege in our complaint we filed today in delaware that it s deceptive to borrowers and homeowners and deceptive to property owners. do you feel that with this lawsuit, with the target of this lawsuit you are aiming at the heart of what s gone wrong in the wake of the financial crisis, or do you feel like you re still at the edges sort of working your way in? i think this is central to it. we re working our way into this. look, the reality is we have more investigation to do. my colleagues are doing investigations. tom miller s leading an investigation that he should be given credit for.
things. one, avoid millions upon millions of dollars of recordation fees. and two make them able to slice and dice these mortgages and mortgage-backed securities more readily accessible and asser for them to do. they did that in private. they basically took our recordation system national and private, and they screwed it up. and we allege in our complaint we filed today in delaware that it s deceptive to borrowers and homeowners and deceptive to property owners. do you feel that with this lawsuit, with the target of this lawsuit you are aiming at the heart of what s gone wrong in the wake of the financial crisis, or do you feel like you re still at the edges sort of working your way in? i think this is central to it. we re working our way into this. look, the reality is we have more investigation to do. my colleagues are doing investigations. tom miller s leading an investigation that he should be given credit for. anytime you have all 50 attorney generals agreeing on something,
you know the banks have been up to something that s not good. we are united in our robo signing, our servicing investigation. but this is something our office has been working on. i think you ll see general schneiderman in new york work on some aspect of this. you ll see martha coakley work on similar aspects of this. this system mers, this privatized recordation system, connects it all together. and that is where they have basically begun from our perspective and our investigation reveals lost track of who owns what. and that s how scary and deceptive this has become. mr. attorney general, your father is vice president biden. so asking you about state politics versus federal politics is a personal question as well as a political question, and i recognize that. but why is it that we are seeing a fraud issue as fundamental as this, potential fraud issue, handled at the state level by your office and by other attorneys general at the state level and not as a federal
investigation that he should be given credit for. anytime you have all 50 attorney generals agreeing on something, you know the banks have been up to something that s not good. we are united in our robo signing, our servicing investigation. but this is something our office has been working on. i think you ll see general schneiderman in new york work on some aspect of this. you ll see martha coakley work on similar aspects of this. this system mers, this privatized recordation system, connects it all together. and that is where they have basically begun from our perspective and our investigation reveals lost track of who owns what. and that s how scary and deceptive this has become. mr. attorney general, your father is vice president biden. so asking you about state politics versus federal politics is a personal question as well as a political question, and i recognize that. but why is it that we are seeing a fraud issue as fundamental as this, potential fraud issue,
anytime you have all 50 attorney generals agreeing on something, you know the banks have been up to something that s not good. we are united in our robo signing, our servicing investigation. but this is something our office has been working on. i think you ll see general schneiderman in new york work on some aspect of this. you ll see martha coakley work on similar aspects of this. this system mers, this privatized recordation system, connects it all together. and that is where they have basically begun from our perspective and our investigation reveals lost track of who owns what. and that s how scary and deceptive this has become. mr. attorney general, your father is vice president biden. so asking you about state politics versus federal politics is a personal question as well as a political question, and i recognize that. but why is it that we are seeing a fraud issue as fundamental as this, potential fraud issue,