Sam Stein and Ryan Grim, Huffington Post

Hours before last year’s State of the Union address, the Obama administration offered The Huffington Post an exclusive. During his speech, President Barack Obama would announce a new law enforcement unit aimed at exposing and prosecuting financial fraud behind the housing crisis. The unit would be co-chaired by New York Attorney General Eric Schneiderman, a progressive champion who’d been pressuring the White House to get tougher on banks.

“This is a big achievement and something the entire progressive advocacy community wanted [with respect to] housing policy,” a White House official said back then.

A year later, progressives said they consider the panel a disappointment and, possibly, a diversion to placate Schneiderman and homeowner advocates. The Justice Department said it doesn’t know what the fuss is about.

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