Tag Archives: Attorneys General

To Paraphrase Hank Jr: Are You Ready For Some Race Riots?

By Fred Weinberg

Harry Reid To Paraphrase Hank Jr: Are You Ready For Some Race Riots?

Harry Reid (D-Washington DC Ritz Carleton) has truly come full circle.

That is, he used to represent the state of Nevada; and now he represents the highest political bidder, but is still nominally elected from Nevada.

When I first moved to Nevada from Oklahoma, I was advised by Oklahoma Senator Jim Inhofe that I would meet Reid, he would come off as my friend (I had just purchased a Las Vegas radio station) and a conservative, and I would soon discover that neither was true.

As usual, Oklahoma’s senior Senator was right on the money.

Harry’s latest outrage was a Saturday comment after the George Zimmerman acquittal urging Eric Holder’s department of so-called justice to re-investigate the incident and, presumably, bring Federal charges against Zimmerman.

To paraphrase Hank Williams Jr., Are You Ready For Some Race Riots?

Nobody won the Zimmerman trial.

Zimmerman himself will have to live the rest of his life with the death of a 17-year-old kid on his conscience.

The prosecution will have to live with the fact that they perverted our system to bring charges that had not a shred of evidence, all just to make some race-baiting poverty pimps in Florida and New York with political influence happy.

And Barack Obama will have to live with one of his famous loose-lipped open pie hole comments that if he had a son, he would look like Treyvon Martin, the dead kid.

For the Feds to try and prove some kind of a “civil rights” case against Zimmerman would be an overreach of the kind that could easily ignite the middle class which has seen the President’s so called administration run guns to Mexico, use the IRS to screw its opponents, and justify spying on innocent Americans in the name of national security.

If the animals in Oakland (or anywhere else) who did their best imitation of the race riots in Watts want to spread their gospel with violence, I suspect that in 2013, the people who they will try and commit violence against are ready for it and willing to fight back.

That makes this an even bigger powder keg.

The next Watts or Detroit will probably be met with citizen resistance.  People – all kinds of people – are sick and tired of being pushed into a level of political correctness on the question of race.

We have a black President.  We have one of the most incompetent Attorneys General in the history of the United States who also happens to be black.  The civil rights movement won.  It was a worthy battle, but it is OVER!

What you are seeing today is the race-baiting poverty pimps who cannot any longer live off a movement that won its battles years ago. These are people who need to get a real job and life.

Instead, they seize on a case like this to try and regenerate their pathetic “movement.”

Folks who go to work every day, play by the rules, and may well be …read more

Source: FULL ARTICLE at Western Journalism

CFPB Takes Aim at This Mortgage Player

By Amanda Alix, The Motley Fool

Filed under:

I suppose it was only a matter of time. When the government settled early last year with Bank of America, Citigroup, JPMorgan Chase, Wells Fargo, and Ally Financial over foreclosure abuses, these lenders were not only instructed to use the $25 billion to assist fraudclosure victims. They were also ordered to revamp their servicing standards, which were also fraught with problems.

Since then, many banks, namely Bank of America, have been selling off their mortgage servicing rights in order to better comply with new capital rules. The beneficiaries of these sales are mortgage servicers such as Nationstar Mortgage , Walter Investment , and Ocwen Financial , all of which have been scooping up these MSRs like there’s no tomorrow.

These companies are growing by leaps and bounds, so I wasn’t particularly surprised to see that the Consumer Financial Protection Board has been hounding Ocwen in regards to its compliance with the servicing terms contained in the National Mortgage Settlement.

Although Ocwen states that it is complying with all requests by regulators, it also notes in its 10-K form that the CFPB, along with the state Attorneys General involved in the settlement and the Multi-State Mortgage Committee, have asked Ocwen to contribute to a consumer relief fund. The servicer declined.

Not the end of the story
Ocwen is the largest of the mortgage servicers, so it’s not surprising that they are being squeezed first. It is also not unexpected because these companies are servicing a large portion of existing mortgages. Despite the company’s assertion that it is against forking over any contributions, Ocwen acknowledges that it may be liable for up to $135 million under the proposal. The servicer also concedes that its reluctance to pony up may end it in a court of law. Ocwen also reported that it had received two civil investigative demands from the Dept. of Justice regarding its new acquisition , Homeward Residential, seeking to resolve questions regarding that unit’s prior participation in the government‘s Home Affordable Mortgage Program.

Ocwen certainly has its plate full, but the other servicers are likely to be next. If Nationstar and Walter also opt out of the consumer relief pool, there may well be a whole lot of legal action going on very soon in the mortgage servicing industry. 

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The article CFPB Takes Aim at This Mortgage Player originally appeared on Fool.com.

Fool contributor Amanda Alix …read more
Source: FULL ARTICLE at DailyFinance

Mortgage Settlement: Step Aside Dimon And Moynihan, Only Ally Has Paid Its Share

By Agustino Fontevecchia, Forbes Staff

As the housing market continues on its slow and painful path to recovery, major banks have been forced to fork over billions in relief for troubled homeowners.  The landmark $19 billion settlement between the Attorneys General of 49 states and five major banks and mortgage originators is on track, and while major names like Bank of America have provided more than $26 billion in relief on a gross basis, while states like California got $17 billion to date, only Ally Financial has managed to meet its obligations.  The ghost of Angelo Mozilo and Countrywide will continue to spook major financials going forward as the housing crisis still weighs on their balance sheets. …read more
Source: FULL ARTICLE at Forbes Latest

Official: Toyota settles complaints with states Attorneys General for $29 million

By John Neff

Filed under: ,

Toyota announced today that it has reached a settlement with the Attorneys General of 29 states and one US territory that will resolve their complaints relating to recalls performed by the automaker from 2005-2010, including those related to sticky accelerators and malfunctioning floor mats that may have contributed to cases of unintended acceleration.

The settlement includes a payout of $29 million to be divided among the states and US territory, as well as a commitment from Toyota “to take steps to make vehicle information more easily accessible to consumers to help them operate their vehicles safely and make more informed choices.” The settlement also has Toyota continuing its rapid-response service teams and quality field offices that were put in place shortly after the largest of the recalls from 2010, as well as a “range of customer care amenities for owners of vehicles subject to certain recalls,” though the press release below isn’t specific about what those amenities might be.

This settlement marks the second major step in the last few months that Toyota has taken to settle legal disputes surrounding the unintended acceleration recalls, the first being a $1.4 billion settlement to address economic loss suffered by owners of current and past Toyota vehicles that may have lost value on account of these recalls.

Continue reading Toyota settles complaints with states Attorneys General for $29 million

Toyota settles complaints with states Attorneys General for $29 million originally appeared on Autoblog on Thu, 14 Feb 2013 17:43:00 EST. Please see our terms for use of feeds.

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Source: FULL ARTICLE at Autoblog

Feds Finger Standard & Poor's In DOJ Lawsuit

By James Poulos, Contributor Is it the first move in a new crackdown, or another act of symbolic politics? The Wall Street Journal reports: The Justice Department and state prosecutors intend to file civil charges alleging wrongdoing by Standard & Poor’s Ratings Services in its rating of mortgage bonds before the financial crisis erupted in 2008, according to people familiar with the matter. Here’s the key piece: Many details of the looming enforcement action couldn’t be immediately determined, such as why prosecutors are zeroing in on S&P rather than rivals Moody’s Corp. and Fitch Ratings, a unit of Fimalac SA and Hearst Corp. As Reuters points out, all the ratings agencies have long been the focus of pent-up financial frustration. In addition to being the first federal action against such an agency, the DOJ‘s impending suit comes complete with collaboration by a number of states’ Attorneys General, who are expected to join the legal effort.
Source: FULL ARTICLE at Forbes Latest

Is S&P About To Fall Prey To American Bloodlust?

By James Poulos, Contributor Is it the first move in a new crackdown, or another act of symbolic politics? The Wall Street Journal reports: The Justice Department and state prosecutors intend to file civil charges alleging wrongdoing by Standard & Poor’s Ratings Services in its rating of mortgage bonds before the financial crisis erupted in 2008, according to people familiar with the matter. Here’s the key piece: Many details of the looming enforcement action couldn’t be immediately determined, such as why prosecutors are zeroing in on S&P rather than rivals Moody’s Corp. and Fitch Ratings, a unit of Fimalac SA and Hearst Corp. As Reuters points out, all the ratings agencies have long been the focus of pent-up financial frustration. In addition to being the first federal action against such an agency, the DOJ‘s impending suit comes complete with collaboration by a number of states’ Attorneys General, who are expected to join the legal effort.
Source: FULL ARTICLE at Forbes Latest