The 49 State Attorney General Foreclosure Screwjob – IT’S EVEN WORSE THAN REPORTED!

The 49 State Attorney General Foreclosure Screwjob- IT’S EVEN WORSE THAN REPORTED! There should be no shortage of press reporting on just how bad these bank settlements are.  The banks stole hundreds of billions, the headlines report they’ll be penalized “up to” a few billion, but the reality is their true cost is far less … Read more

Hacktivism: Civil Disobedience or Cyber Crime?

Hacktivism: Civil Disobedience or Cyber Crime? by Christie Thompson ProPublica When Reddit co-founder and internet freedom activist Aaron Swartz committed suicide last Friday, he was facing up to 13 felony counts, 50 years in prison, and millions of dollars in fines. His alleged crime? Pulling millions of academic articles from the digital archive JSTOR. Prosecutors allege that Swartz … Read more

OCC and Federal Reserve Reach Agreement with HSBC to Provide $249 Million in Payments and Assistance

OCC and Federal Reserve Reach Agreement with HSBC to Provide $249 Million in Payments and Assistance WASHINGTON — HSBC has joined the agreement in principle announced by the Federal Reserve Board and Office of the Comptroller of the Currency (OCC) on January 7, 2013, and will pay $249 million in cash payments and other assistance … Read more

Barofsky Sees JPMorgan ‘Mandate to Exonerate’ Dimon (VIDEO)

Barofsky Sees JPMorgan `Mandate to Exonerate’ Dimon Jan. 17 (Bloomberg) — Neil Barofsky, former special inspector for the U.S. Treasury’s Troubled Asset Relief Program and a Bloomberg Television contributing editor, talks about JPMorgan Chase & Co.’s report detailing the findings of an internal probe into the firm’s biggest-ever trading loss. Barofsky speaks with Erik Schatzker … Read more

ResCap (ALLY/GMAC) Wins Approval to Try to Sell Defaulted Loans

  ResCap Wins Approval to Try to Sell Defaulted Loans Residential Capital LLC, the bankrupt mortgage company whose parent is owned by the U.S. government, won court approval to try to sell a pool of defaulted loans with a balance of about $130 million. The mortgages are the best of about $1 billion in bad … Read more