Hos answer to Jake Tapper’s question on why he didn’t prosecute

PRESIDENT OBAMA: Well, first, on the issue of — on the issue of prosecutions on Wall Street, one of the biggest problems about the collapse of Lehman’s and the subsequent financial crisis and the whole subprime lending fiasco is that a lot of that stuff wasn’t necessarily illegal,

Gee, I guess then there wasn’t any need for the White House to pressure NY’s Attorney general re: investigating mortgage fraud, was it, Barak?

New York Attorney General Eric Schneiderman is reportedly under pressure from the Obama administration to support a broad bank settlement over shoddy mortgage servicing practices.

The settlement, which is intended to resolve widespread problems in how banks handled mortgage paperwork, has been in the works for months. Those problems, such as the “robo-signing” of documents, have become apparent in the aftermath of the housing crisis and the struggle to process far more foreclosures than the banking system ever expected.

In other words, you force people to lose their homes over fraudulent mortgages and no law was broken?

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