03/01/2012 04:54 pm ET

Brad Miller Won't Get Staff Director Position on Securitization Fraud Task Force

Congressman Brad Miller will not become the staff director of the celebrated working group investigating securities fraud by the big banks, according to a source close to the process. Miller was on progressives’ wish list to run the RMBS working group, which is co-chaired by Eric Schneiderman as well as members of the Department of Justice, a US Attorney’s Office and the SEC. The source said that the working group preferred an “experienced prosecutor” rather than a lawmaker for the position.

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