08/25/2011 09:54 am ET Updated Oct 25, 2011

Matt Taibbi: An Attorney General Vs. The Banking World

On the one side is Eric Schneiderman, the New York Attorney General, who is conducting his own investigation into the era of securitizations – the practice of chopping up assets like mortgages and converting them into saleable securities – that led up to the financial crisis of 2007-2008.

On the other side is the Obama administration, the banks, and all the other state attorneys general.

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