Daily Archives: May 22, 2014

The Daily Show | Timothy Geithner Extended Interview

Here is the video with Jon Stewart’s interview with Timmy: http://thedailyshow.cc.com/extended-interviews/z9b8f1/timothy-geithner-extended-interview

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Proposed law fail: Congress could move your mailbox to save money

Proposed law fail: Congress could move your mailbox to save money

Pop quiz: Where can you get a job if you are:

a) lazy

b) don’t want to work

c) never around

Answer: Apply at Congress

Millions of Americans would no longer get mail delivered to their door, but would go to communal or curbside boxes instead, under a proposed law.

The House Committee on Oversight and Government Reform debated Wednesday a bill to direct the U.S. Postal Service to convert 1.5 million addresses annually — 15 million over the next decade — to the less costly, but also less convenient delivery method.

“I think it’s a lousy idea,” said Democratic Rep. Stephen Lynch of Massachusetts. He was joined by some other lawmakers in saying it wouldn’t work in urban areas where there’s no place on city streets to put banks of so-called “cluster boxes” that have compartments for multiple homes. Under the proposal, waivers could be given to people with disabilities who have difficulty leaving their homes, and people who still want door delivery could pay extra for it—something Lynch derided as “a delivery tax.”

 

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Fighting for Justice for All New Yorkers

Fighting for Justice for All New Yorkers

By Eric T. Schneiderman 

Since taking office as attorney general nearly four years ago, I have made it my priority to ensure that the law applies equally to everyone, not just the rich and powerful.

That is the definition of equal justice under law: everyone gets a fair shot, everyone pays their fair share, and everyone plays by the same set of rules. This guiding principle has helped my office protect all New York families and hold accountable those who engage in public corruption.

That is why we have prosecuted consumer fraud across the state. We stopped more than 250 home contractors from cheating homeowners, cracked down on companies that were scamming soldiers at Fort Drum, and launched a statewide program toprotect seniors from financial scams.

We have cracked down people who steal public funds. After creating the first Taxpayer Protection Unit, we have recovered more than $30 million in taxpayer dollars from both small-time tax cheats and big corporations. In just three years, we have also recovered more than $813 million in money stolen from New York’s Medicaid program — more than any other three year period in our state’s history.

As New York’s chief law enforcement officer, I have taken a hard line against those in state government who abuse the law they have sworn to uphold. Anyone who believes in the essential role government can play in improving people’s lives must also be the toughest critics of those who abuse the public trust. Throughout my career, I have made rooting out public corruption a top priority. As Attorney General, I have brought cases against more than 40 politicians, government employees andleaders of nonprofit organizations for corruption — including state legislatorstown supervisors, and a member of the New York City Council.

We have protected workers by going after unscrupulous employers who try to steal their hard earned wages, and secured back pay for fast-food workersconstruction workers and car wash workers – even getting jail time for some of the offenders.

We have made New York State a safer place by cracking down on drug kingpins and closing the gun show loophole that allowed dangerous people to buy firearms without undergoing a background check. Working with gun show operators, we came up with Attorney General Model Protocols to make sure that no one can bring a firearm out of a gun show unless he or she can show that a background check was conducted. Former Rep. Gabrielle Giffords, and her husband, Capt. Mark Kelly, called these procedures a model for the rest of the country.

We are fighting to protect the middle class by going after fraudulent financial practices by major banks and using the money we won to help New York familiesstay in their homes.

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U.K. Regulator Wins Appeal Removing Threat to Libor, Other Cases

U.K. Regulator Wins Appeal Removing Threat to Libor, Other Cases

The U.K. markets regulator won a ruling allowing a fraud trial halted over public funding cuts to continue, removing a threat to the future of other high-profile criminal cases.

A London appeals court granted the Financial Conduct Authority the right to prosecute five defendants over a land-banking investment case today, overturning a lower court’s ruling that paused the proceedings after the men lost their trial lawyers due to legal aid cuts.

The government is cutting public funding for barristers in an effort to reduce the country’s deficit. A 30 percent fee reduction for lawyers in complex trials, known as very-high-cost cases, took effect in December. The land-banking investment case and prosecutions over insider trading and rate manipulation fall into that category.

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Exclusive: New York regulator probes Ocwen over reports of homeowner gag rule

Exclusive: New York regulator probes Ocwen over reports of homeowner gag rule

Thank goodness for this regulator..

New York banking regulator Benjamin Lawsky said on Wednesday he is looking into reports Ocwen Financial Corp is requiring struggling homeowners to agree not to criticize the company in public if they want to have a mortgage modified.

Reuters reported on Wednesday that a number of companies collecting payments on home loans, including Ocwen, are increasingly demanding borrowers in litigation sign non-disparagement clauses if they want the terms on their mortgages eased. In some cases, servicers are also demanding the clauses be inserted in loans modified outside of litigation.

 

Those clauses prohibit consumers from printing or posting anything negative about the companies.

“Reports that Ocwen is imposing a gag rule for certain struggling homeowners – preventing them from criticizing the company – are troubling and deeply offensive,” Lawsky, New York’s superintendent of financial services, said in an emailed statement to Reuters. “We will investigate this issue immediately.”

“Servicers have a responsibility to act in the best interest of borrowers and investors – not to try and sweep shoddy practices under the rug or muzzle struggling homeowners,” Lawsky added.

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Bank of America : Exclusive: SEC probes Schwab, Merrill, for anti-money laundering violations – sources

Bank of America : Exclusive: SEC probes Schwab, Merrill, for anti-money laundering violations – sources

Banksters never learn their lessons on anti-money laundering…

U.S. regulators are investigating Charles Schwab Corp and Bank of America Corp’s Merrill Lynch brokerage over whether they are doing enough to learn about their clients’ identities, sources said, the latest sign a crackdown on money laundering is expanding.

The U.S. Securities and Exchange Commission is looking into whether the brokerages missed red flags that could indicate attempts to move money illicitly or to feed proceeds from drug trafficking and other crimes into the financial system by failing to know their customers well enough, the sources said.

Schwab is conducting an internal investigation, one of the sources said.

Spokesmen for the SEC declined to comment and Merrill declined to comment. A Schwab spokeswoman said the company does not comment on regulatory agency investigations but takes its due-diligence responsibilities regarding clients very seriously.