Daily Archives: April 27, 2016

Can you guess which state charges the highest property tax?

tax-rates-by-state

(Source: CoreLogic)

At 2.67%, Illinois has the highest median property tax rate in the U.S., according to a report by CoreLogic.

Did you guess it? What about the lowest?

On the other hand, Hawaii has the lowest median property tax rate in the nation at 0.31%, according to the report. The national median is 1.31%.

Property taxes vary state to state, and include the total taxes paid to several different agencies, which can include the county, village and school districts. Due to these variances, estimating a property tax can be challenging at times.

Read on.

 

How much worse can it get for Ocwen? Nonbank posts massive loss in 1st quarter

Reports net loss of $111.2 million

Earlier this year, Ocwen Financial tried to lay the groundwork for just how poor its first-quarter financial results would be, stating in February that the nonbank expected to post a loss in 2016, but the company’s first-quarter results are even worse than expected.

Ocwen announced Wednesday after the market closed that it posted a net loss of $111.2 million (or $ 0.90 per share) for the first quarter, which was worse than consensus estimates.

The loss marks a stark reversal from the first quarter of 2015, but not a departure from the nonbank’s financial results of late.

Ocwen actually posted profits – albeit small ones – in the first and second quarters of 2015.

In the first quarter of 2015, Ocwen reported net income of $34.4 million, while in the second quarter, Ocwen reported net income of $10 million.

Those profits were undone by Ocwen’s rough third quarter, when the nonbank posted a net loss of $66.8 million.

And the results were far worse for Ocwen in the fourth quarter, when the nonbankposted a net loss of $224.3 million.

Read on.

Ex-Citigroup Executive Sues Claiming Whistle-Blower Mistreatment

  • Marco Arosio files claim at London employment tribunal
  • Arosio left Citigroup in February, according to FCA records

Marco Arosio, a former executive at Citigroup Inc., sued the bank for unfair dismissal, according to filings from a London employment tribunal.

The complaint by Arosio, who worked in rates trading and structuring according to his LinkedIn page, alleges his firing was related to whistle-blowing. Additional details weren’t available from the court other than that hearings are scheduled for the case in mid-May.

Several Citigroup traders who lost their jobs amid probes into rate rigging and other misconduct have sued the bank in London’s specialist employment tribunals, where judges can award unlimited damages in cases of discrimination or mistreatment of whistle-blowers.

Read on.

Former Bernie Sanders Staffers Seek To Elect A ‘Brand New Congress’

Long over due.. It’s about time… And great idea!

Huffington Post:

While even Bernie Sanders is starting to admit that his chance of winning the Democratic nomination is exceedingly slim, some of his former staff and volunteers have formed a political action committee dedicated to giving the senator “the ability to make real change from the White House.”

Brand New Congress, which was launched Monday, is looking ahead to the 2018 midterm elections to “replace Congress all at once” with lawmakers who agree with the Vermont independent’s policy positions. The PAC won’t be able to fully accomplish that goal in 2018, however, since just 468 of the 535 lawmakers in the House and Senate will be up for re-election.

A timeline on the PAC’s website says that it plans to form local search committees to recruit organizers and candidates who are new to politics. (Sanders, for his part, has served in Congress for 26 years.) The PAC says it will codify various progressive policies in a platform that its slate of candidates must support.

Zack Exley, one of the PAC’s founding organizers and a senior Sanders adviser until a few weeks ago, said Brand New Congress can accomplish its goals because Sanders has shown that grassroots candidates who weren’t taken seriously in the past can recruit thousands of volunteers and raise tens of millions of dollars online. The senator has out-raised Clinton in each of the last three months, and has now matched her total fundraising haul, helping him stay in the race much longer than anyone anticipated before the primaries.

“We learned … that the grassroots are better qualified to run electoral campaigns than Democratic party operatives,” Exley told The Huffington Post in an email. “They just need to be given the tools, the data, the offices and the structure to succeed.”

Though it could be challenging to find Republican candidates who won’t flee from any affiliation with former Sanders supporters, the PAC hopes to recruit Republicans to run in districts hostile to Democrats.

“We want a supermajority in Congress that is fighting for jobs, criminal justice reform and the environment,” Exley said. “Most Americans actually want that, and I think we get it by running Dems in blue areas, Republicans in deep red areas, and by running independents wherever we didn’t defeat incumbents.”

Sen. Elizabeth Warren, comic book hero?

elizabeth warren comic

This undated image provided by Storm Entertainment shows the cover of a comic book “Female Force: Elizabeth Warren” featuring a likeness of Massachusetts Sen. Elizabeth Warren. The publication is one in a series called Female Force, which celebrates female empowerment in the comic book medium. (Darren G. Davis/Storm Entertainment via AP)

Columbian:

BOSTON — Her parents didn’t hail from the planet Krypton, and she was never bitten by a radioactive spider, but that hasn’t stopped Elizabeth Warren from starring as a comic book hero.

“Female Force: Elizabeth Warren” tells the true-life story of Warren’s rise from Oklahoma schoolgirl to U.S. senator and champion of the liberal wing of the Democratic Party.

The 22-page comic is the brainchild of Portland-based publishers Storm Entertainment and is part of a larger series designed to celebrate the lives of notable women. Past subjects include Hillary Clinton, Nancy Pelosi, Madonna, Sarah Palin, Condoleezza Rice, Facebook executive Cheryl Sandberg, Nancy Reagan, Tina Fey and Caroline Kennedy.

The most popular comic in the series told Michelle Obama’s life story, and sold about 75,000 copies. There have been about 70 titles in all.

Publisher Darren Davis said he was drawn to Warren’s story because of the role strong women have played in his life.

Instead of leaping over tall buildings or battling mad jokers and villainous penguins, Warren’s political superpowers are focused on something she sees as even more threatening: the Wall Street and Capitol Hill power brokers she holds responsible for hollowing out the middle class.

Hil wins 4, Bern win 1, Trump cruised through Tuesday primary wins

There are 6 states that are open primaries left in this Presidential race which means independents and non-affiliated voters can choose whoever from whatever party as President. Those voters have been left out from voting in the states that hold a closed primary because they are not register to any political party. This will be interesting Presidential race come November.

State Party Election date Filing deadline Election type Open or closed Pledged delegates Unpledged delegates Total delegates
Iowa Democratic 2/1/2016 1/22/2016 Caucuses Closed 44 8 52
Iowa Republican 2/1/2016 Caucuses Closed 30 0 30
New Hampshire Democratic 2/9/2016 11/20/2015 Primary Closed 24 8 32
New Hampshire Republican 2/9/2016 11/20/2015 Primary Closed 23 0 23
Nevada Democratic 2/20/2016 1/1/2016 Caucuses Closed 35 8 43
South Carolina Republican 2/20/2016 9/30/2015 Primary Open 50 0 50
Nevada Republican 2/23/2016 1/9/2016 Caucuses Closed 30 0 30
South Carolina Democratic 2/27/2016 11/16/2015 Primary Open 53 6 59
North Dakota Republican 1/19/2016 – 2/28/2016 Caucuses Open 0 28 28
Alabama Democratic 3/1/2016 11/6/2015 Primary Closed 53 7 60
Alabama Republican 3/1/2016 11/6/2015 Primary Open 50 0 50
Alaska Republican 3/1/2016 1/28/2016 Caucuses Closed 28 0 28
American Samoa Democratic 3/1/2016 Caucuses Open 6 5 11
Arkansas Democratic 3/1/2016 11/9/2015 Primary Open 32 5 37
Arkansas Republican 3/1/2016 11/9/2015 Primary Open 40 0 40
Colorado Democratic 3/1/2016 1/25/2016 Caucuses Closed 66 12 78
Colorado Republican 3/1/2016 Caucuses Closed 34 3 37
Georgia Democratic 3/1/2016 10/29/2015 Primary Open 102 15 117
Georgia Republican 3/1/2016 Primary Open 76 0 76
Massachusetts Democratic 3/1/2016 1/4/2016 Primary Mixed 91 25 116
Massachusetts Republican 3/1/2016 1/4/2016 Primary Mixed 42 0 42
Minnesota Democratic 3/1/2016 1/4/2016 Caucuses Open 77 16 93
Minnesota Republican 3/1/2016 Caucuses Open 38 0 38
Oklahoma Democratic 3/1/2016 12/9/2015 Primary Mixed 38 4 42
Oklahoma Republican 3/1/2016 12/9/2015 Primary Closed 43 0 43
Tennessee Democratic 3/1/2016 12/1/2015 Primary Open 67 8 75
Tennessee Republican 3/1/2016 12/1/2015 Primary Open 58 0 58
Texas Democratic 3/1/2016 12/14/2015 Primary Open 222 29 251
Texas Republican 3/1/2016 12/14/2015 Primary Open 155 0 155
Vermont Democratic 3/1/2016 1/11/2016 Primary Open 16 10 26
Vermont Republican 3/1/2016 1/11/2016 Primary Open 16 0 16
Virginia Democratic 3/1/2016 12/10/2015 Primary Open 95 14 109
Virginia Republican 3/1/2016 12/10/2015 Primary Open 49 0 49
Wyoming Republican 3/1/2016 Caucuses Closed 26 3 29
Kansas Democratic 3/5/2016 3/1/2016 Caucuses Closed 33 4 37
Kansas Republican 3/5/2016 1/20/2016 Caucuses Closed 40 0 40
Kentucky Republican 3/5/2016 1/7/2016 Caucuses Closed 45 0 45
Louisiana Democratic 3/5/2016 12/4/2015 Primary Closed 51 8 59
Louisiana Republican 3/5/2016 12/4/2015 Primary Closed 47 0 47
Maine Republican 3/5/2016 12/15/2015 Caucuses Closed 23 0 23
Nebraska Democratic 3/5/2016 2/1/2016 Caucuses Closed 25 5 30
Maine Democratic 3/6/2016 12/15/2015 Caucuses Closed 25 5 30
Puerto Rico Republican 3/6/2016 1/13/2016 Primary Open 23 0 23
Hawaii Republican 3/8/2016 2/23/2016 Caucuses Closed 19 0 19
Idaho Republican 3/8/2016 12/9/2015 Primary Closed 32 0 32
Michigan Democratic 3/8/2016 12/11/2015 Primary Open 130 17 147
Michigan Republican 3/8/2016 12/11/2015 Primary Open 59 0 59
Mississippi Democratic 3/8/2016 1/15/2016 Primary Open 36 5 41
Mississippi Republican 3/8/2016 1/15/2016 Primary Open 40 0 40
Democrats Abroad Democratic 3/1/2016 – 3/8/2016 Caucuses N/A 13 4 17
Virgin Islands Republican 3/10/2016 Caucuses Open 6 3 9
Guam Republican 3/12/2016 Territorial convention Closed 0 9 9
Northern Marianas Democratic 3/12/2016 Caucuses Closed 6 5 11
Washington, D.C. Republican 3/12/2016 1/4/2016 Caucuses Closed 19 0 19
Florida Democratic 3/15/2016 11/30/2015 Primary Closed 214 32 246
Florida Republican 3/15/2016 11/30/2015 Primary Closed 99 0 99
Illinois Democratic 3/15/2016 1/6/2016 Primary Open 156 26 182
Illinois Republican 3/15/2016 1/6/2016 Primary Open 69 0 69
Missouri Democratic 3/15/2016 12/29/2015 Primary Open 71 13 84
Missouri Republican 3/15/2016 12/29/2015 Primary Open 52 0 52
North Carolina Democratic 3/15/2016 12/21/2015 Primary Mixed 107 14 121
North Carolina Republican 3/15/2016 12/21/2015 Primary Mixed 72 0 72
Northern Mariana Islands Republican 3/15/2016 Caucuses Closed 9 0 9
Ohio Democratic 3/15/2016 12/16/2015 Primary Open 143 17 160
Ohio Republican 3/15/2016 12/16/2015 Primary Open 66 0 66
American Samoa Republican 3/22/2016 Territorial convention Open 0 9 9
Arizona Democratic 3/22/2016 12/14/2015 Primary Closed 75 10 85
Arizona Republican 3/22/2016 12/14/2015 Primary Closed 58 0 58
Idaho Democratic 3/22/2016 2/25/2016 Caucuses Open 23 4 27
Utah Democratic 3/22/2016 2/5/2016 Caucuses Open 33 4 37
Utah Republican 3/22/2016 Caucuses Closed 40 0 40
Alaska Democratic 3/26/2016 1/29/2016 Caucuses Closed 16 4 20
Hawaii Democratic 3/26/2016 1/8/2016 Caucuses Closed 25 10 35
Washington Democratic 3/26/2016 2/26/2016 Caucuses Open 101 17 118
Wisconsin Democratic 4/5/2016 1/26/2016 Primary Open 86 10 96
Wisconsin Republican 4/5/2016 1/26/2016 Primary Open 42 0 42
Wyoming Democratic 4/9/2016 3/10/2016 Caucuses Closed 14 4 18
New York Democratic 4/19/2016 2/4/2016 Primary Closed 247 44 291
New York Republican 4/19/2016 2/4/2016 Primary Closed 95 0 95
Connecticut Democratic 4/26/2016 3/4/2016 Primary Closed 55 16 71
Connecticut Republican 4/26/2016 3/4/2016 Primary Closed 28 0 28
Delaware Democratic 4/26/2016 2/26/2016 Primary Closed 21 10 31
Delaware Republican 4/26/2016 2/26/2016 Primary Closed 16 0 16
Maryland Democratic 4/26/2016 2/3/2016 Primary Closed 95 23 118
Maryland Republican 4/26/2016 2/3/2016 Primary Closed 38 0 38
Pennsylvania Democratic 4/26/2016 2/16/2016 Primary Closed 189 21 210
Pennsylvania Republican 4/26/2016 2/16/2016 Primary Closed 17 54 71
Rhode Island Democratic 4/26/2016 1/23/2016 Primary Mixed 24 9 33
Rhode Island Republican 4/26/2016 1/23/2016 Primary Mixed 19 0 19
  Indiana Democratic 5/3/2016 2/5/2016 Primary Open 83 9 92
  Indiana Republican 5/3/2016 2/5/2016 Primary Open 57 0 57
  Guam Democratic 5/7/2016   Caucuses Closed 7 5 12
  Nebraska Republican 5/10/2016 3/11/2016 Primary Closed 36 0 36
  West Virginia Democratic 5/10/2016 1/30/2016 Primary Mixed 29 8 37
  West Virginia Republican 5/10/2016 1/30/2016 Primary Mixed 34 0 34
  Kentucky Democratic 5/17/2016 1/26/2016 Primary Closed 55 5 60
  Oregon Democratic 5/17/2016 3/8/2016 Primary Closed 61 13 74
  Oregon Republican 5/17/2016 3/8/2016 Primary Closed 28 0 28
  Washington Republican 5/24/2016 3/10/2016 Primary Closed 44 0 44
  Virgin Islands Democratic 6/4/2016   Caucuses Open 7 5 12
  Puerto Rico Democratic 6/5/2016 4/1/2016 Caucuses Open 60 7 67
  California Democratic 6/7/2016 3/26/2016 Primary Mixed 475 73 548
  California Republican 6/7/2016 3/26/2016 Primary Open 172 0 172
  Montana Democratic 6/7/2016 3/14/2016 Primary Open 21 6 27
  Montana Republican 6/7/2016 3/14/2016 Primary Open 27 0 27
  New Jersey Democratic 6/7/2016 4/4/2016 Primary Closed 126 16 142
  New Jersey Republican 6/7/2016 4/4/2016 Primary Closed 51 0 51
  New Mexico Democratic 6/7/2016 2/2/2016 Primary Closed 34 9 43
  New Mexico Republican 6/7/2016 2/2/2016 Primary Closed 24 0 24
  North Dakota Democratic 6/7/2016 5/2/2016 Caucuses Open 18 5 23
  South Dakota Democratic 6/7/2016 3/29/2016 Primary Mixed 20 5 25
  South Dakota Republican 6/7/2016 3/29/2016 Primary Closed 29 0 29
  Washington, D.C. Democratic 6/14/2016 3/16/2016 Primary Closed 20 26 46

And how is the turnout from the Presidential elections so far? Here is an example of the Democratic race turnout:

officialturnouttable

You can see that majority of the 11 states in the Democratic race that there is a decline of turnout of voters.

Whereas, here is a sample chart from NBC News of large turnout for GOP voters in which many  of the states voted for Trump:

nbcnewsrepublicans

 

As Sanders said in his statement after his losses to Clinton in Tuesday’s election (Sanders only won Rhode Island which was a mixed primary) that Independent voters will play a major role in November election (especially for both Democratics and Republicans). From Sanders’ statement on his website:

“I am proud that we were able to win a resounding victory tonight in Rhode Island, the one state with an open primary where independents had a say in the outcome. Democrats should recognize that the ticket with the best chance of winning this November must attract support from independents as well as Democrats. I am proud of my campaign’s record in that regard.

 

 

Revolvng door: U.S. Treasury anti-laundering head to join HSBC – sources

The U.S. Treasury Department’s top anti-money laundering official is resigning to take what sources said on Tuesday was a top post at HSBC Holdings Plc , which is struggling to meet terms of an earlier settlement with the U.S. government.

Jennifer Shasky Calvery announced she was resigning as director of Treasury’s Financial Crimes Enforcement Network (FinCEN), which she has headed since 2012. She is a former federal prosecutor who had also led the Justice Department’s anti-money laundering unit.

“I hope that we have enhanced the agency’s solid foundation so that FinCEN can best perform its mission for years into the future,” Shasky said in a press release.

The resignation is to be effective on May 27.

Her move to HSBC was confirmed by two sources familiar with her plans. Shasky declined comment through a FinCEN spokesman, and an HSBC spokesman declined comment.

Shasky will join HSBC in a senior global financial-crime fighting role, according to one source. It is not clear when she will begin that work.

Her move to HSBC comes as the bank is working to demonstrate it has sufficiently bolstered its controls to prevent money laundering, as required by a 2012 pact with the Justice Department.

Read on.