Logo

How dare anyone not named “Cuomo” snag headlines for cracking down on “unscrupulous” business practices?

That prospect seems to be driving Gov. Cuomo to seek a host of new powers for his Department of Financial Services, as The Post reported Wednesday. The gov wants DFS (whose boss answers to him) prosecuting and penalizing banks, insurers and other key Wall Street players for “misdeeds.”

In some cases, the agency could even act without getting a court order or referring the matter to the state attorney general, as now required by law.

All this, to help ensure “fairness” and “mitigate adverse financial impacts from unscrupulous practices,” Cuomo said. Yeah, and let him score political points.

Hello? The AG, in case ex-AG Cuomo forgot, already has the power to go after Wall Street, or anyone else, for breaking the law. Not to mention state and federal prosecutors. Indeed, some New York AGs have taken their powers too far.

Now Cuomo wants to add another Wall Street sheriff and maybe even do away with businesses’ due-process rights.
The idea, frankly, stinks: It would send yet another message about New York’s hostility to businesses and create chaos and confusion for both them and prosecutors.

Maybe the gov’s jealous of the headlines AG Eric Schneiderman has won for targeting banks and other progressive bogeymen. He already stepped on the AG’s toes when he created DFS, tapped a loyal former prosecutor to run it and beefed up enforcement.

Last year, Cuomo called for a special prosecutor (one he’d pick) to monitor state contracts. Ironically, that followed a scandal involving contracts his staff arranged.

Clearly, this is just another power grab to advance Cuomo’s political prospects, as NY GOP boss Ed Cox put it.

Memo to the gov: You’re not AG anymore. We’re no great fans of Schneiderman, but he was duly elected to do his job. You were elected to do yours — stick to it.

Comments
anonymous profile image
Powered by RoundtableBuilt on infrastructure designed for real-time media. Learn more at RTB.io.© Roundtable 2026. By using this site you agree to the Terms of Use and Privacy Policy