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Court Rules Against Banks in Pivotal Mortgage Case
By not in system - AOL NewsThe highest court in Massachusetts ruled against U.S. Bancorp and Wells Fargo & Co. Friday in a pivotal mortgage foreclosure case that could spark more turmoil and uncertainty in a housing market already mired in depression. The Supreme Judicial Court affirmed a lower court judge's ruling invalidating two mortgage foreclosure sales because the banks, in their capacity as trustees for mortgage securities, did not prove that they actually owned the mortgages at the time of foreclosure. The decision, which highlights the failure of financial firms to adhere to the rules that govern ...
Top Financial Stories of 2010: Foreclosures, Financial Reform, Bailouts
By Joann M. Weiner - Politics DailyThe ongoing recession and sustained high unemployment have pushed aside the near-collapse of the financial sector as a front-burner worry for Americans. And yet, developments in the financial world are still creating uncertainty and trouble for the world economy. Looking back, here are the five most important -- in some cases troubling -- financial stories of 2010. 1. Foreclosure Fiasco: Robo-Signers, Break-Ins, and the Continuing Housing Slump The foreclosure debacle dominated the financial news last fall with reports of "robo-signings" by employees who approved foreclosures without even ...
Fugitive Banker Surrenders in $1.2 Million Fraud Case
By David Lohr - AOL NewsA former Oregon bank manager who fled after she was accused of stealing up to $1.2 million from customers has surrendered in California, the FBI said. The FBI had been seeking 37-year-old Shawna Leimomi Moore-Saia since Oct. 27, when a federal judge issued a warrant for her arrest on charges of identity theft, credit card fraud, wire fraud, bank fraud and money laundering. Moore-Saia's whereabouts remained a mystery until Monday, when she walked into the FBI's Los Angeles office and turned herself in. FBI Shawna Leimomi Moore-Saia, a former Oregon bank manager accused of stealing ...
Which American Bank Will WikiLeaks Put the Hurt On?
By Steven Hoffer - AOL News(Nov. 30) -- Watch your back, Wall Street: WikiLeaks founder Julian Assange says the private sector is next on his hit list. The whistle-blower organization shook the foundations of U.S. diplomacy earlier this week when it released a "mega-leak" of secret government cables, revealing gossipy correspondences between the State Department and American diplomatic outposts around the world. In a rare, exclusive interview published Monday, Assange told Forbes' Andy Greenberg that his next strike, planned for early 2011, might "take down a bank or two." "It will give a true and representative ...
States to Unveil Joint Probe Into Foreclosures
By not in system - AOL NewsWASHINGTON (Oct. 13) -- Up to 40 state attorneys general are preparing to launch a joint investigation into the mortgage industry over the foreclosure-document mess. If the states have their way, mortgage companies will have to revamp the way they handle foreclosures, pay penalties for violations and expand help to homeowners on the verge of foreclosure. The top law enforcement officials of states around the country are already weighing the outlines of a potential settlement with the industry, said Iowa Attorney General Tom Miller, who will lead the investigation. The inquiry will be ...
Gen. McChrystal Isn't Alone: 31 Other People Summoned by Obama
By David Knowles - Politics DailyGen. Stanley McChrystal is headed to the to the presidential woodshed -- a place that has seen its fair share of use in the first year and a half of Barack Obama's administration. In fact, the words "summoned to the White House" have been used frequently during Obama's tenure, whether in an attempt to woo political opponents, scold corporate executives, lavish praise on allies, or simply to hear another point of view. Here's a list of who's been called for a private audience, and what they've been summoned for: I. Summoned to the Woodshed Gen. Stanley McCrystal: Following the release of ...
Obama Presses Banks to Lend, Accept New Regulations
By David Sessions - Politics DailyIn an hour-long meeting Monday, President Obama pressed executives from Wall Street banks to increase their lending to small businesses and stop fighting financial regulation efforts, the New York Times reports. "America's banks received extraordinary assistance from American taxpayers to rebuild their industry," Obama said in remarks after the meeting. "Now that they're back on their feet, we expect an extraordinary commitment from them to help rebuild our economy." The president hoped to use the meeting to capitalize on public outrage at the banks' dependence on taxpayers for bailouts, and ...
Former Stripper, NASCAR Scam Artist Captured - Again
By tallglassofmilk - AOL NewsThe Fanhouse receives some interesting tips now and then and on Easter morning something came in attempting to inspire a post about strip clubs. Nothing NASCAR-related and post-worthy immediately came to mind or seemed appropriate on such a holy day.A few Peeps later, there's news of a former stripper with NASCAR connections being captured by U.S. Marshals. Now that's enough to inspire a post on a slow NASCAR news weekend.Who needs feature film entertainment like "The Fugitive" and "U.S. Marshals" when you can just tune in to NASCAR headlines?Iranian-born Fatemah Karimkhani was taken into ...
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