Stay up to date on Beau's work as Attorney General.
News Journal: Beau Biden cautious on signing off on mortgage settlement
Beau Biden isn’t winning any friends on Wall Street. The big-money guys aren’t happy that Delaware’s attorney general insists on asking tough questions about bad mortgages.
A lot of big players want the mortgage mess behind us.
The top banks, for instance, want a settlement that would protect them from future lawsuits or prosecution over fake paperwork.
The U.S. Treasury Department, on the other hand, wants the burden of the foreclosure scandal off the banks’ books.
Treasury officials tend to think a signature of agreement from all 50 state attorneys general would end the matter and let Wall Street breathe a little easier.
Biden and his New York counterpart, Eric T. Schneiderman, have declined to go along.
Schneiderman, according to The New York Times, is getting pressure from a variety of sources, including the federal government.
Biden says he hasn’t felt the pressure yet.
“Some people have been giving me their opinions,” Biden joked. “I’m always happy to listen. I don’t view that as pressure. They’re just strongly held views.”