http://online.wsj.com/article/SB10001424052748704477904575586320312052784.html?mod=WSJ_hpp_sections_realestate
So now we have a problem.
We they start from square one and begin again or will they blow off their constituents after the elections over?
From his office overlooking the gold-gilded Iowa State Capitol, Tom Miller is confronting the reality of how hard it is to get all 50 state attorneys general to agree on anything.
One hurdle: Ten of the 12 state attorneys general on the foreclosure investigation's executive committee are running for re-election or will be leaving office in coming months. Arizona Attorney General Terry Goddard, California Attorney General Jerry Brown and New York Attorney General Andrew Cuomo, all Democrats, are in election races for governor Tuesday.
Showing posts with label foreclosure gate. Show all posts
Showing posts with label foreclosure gate. Show all posts
Monday, November 1, 2010
Thursday, October 14, 2010
UBS Declines Legal Action Over Subprime Losses
http://www.nytimes.com/2010/10/15/business/global/15ubs.html?ref=business
No legal action, in other words
Fuck You common stock holders
We don't even consider you anything to worry about, let alone worry for!
Legal action might just actually implicate us, so we're making no waves in hopes this situation will just go away!
The Swiss bank UBS said Thursday that it will not take legal action against former executives and board members for the huge losses suffered during the U.S. subprime crisis that forced a bailout of the company.
Kaspar Villiger, chairman of Switzerland’s largest bank, said in a statement that the company had learned lessons from the crisis and now was focusing on the future.
“What happened should not have been allowed to happen
“Despite warnings, the bank falsely believed that its financial products in relation to the U.S. real estate market were valuable and sufficiently hedged against losses,” the report said.
UBS, long the star of the Swiss banking industry, lost billions of dollars during the global economic crisis and the confidence of many investors during a lengthy tax dispute with the United States.
Regarding this dispute, the report acknowledged that the bank had not made a comprehensive assessment of the compliance risk of its U.S. cross-border wealth management business before the investigation by U.S. authorities
No legal action, in other words
Fuck You common stock holders
We don't even consider you anything to worry about, let alone worry for!
Legal action might just actually implicate us, so we're making no waves in hopes this situation will just go away!
The Swiss bank UBS said Thursday that it will not take legal action against former executives and board members for the huge losses suffered during the U.S. subprime crisis that forced a bailout of the company.
Kaspar Villiger, chairman of Switzerland’s largest bank, said in a statement that the company had learned lessons from the crisis and now was focusing on the future.
“What happened should not have been allowed to happen
“Despite warnings, the bank falsely believed that its financial products in relation to the U.S. real estate market were valuable and sufficiently hedged against losses,” the report said.
UBS, long the star of the Swiss banking industry, lost billions of dollars during the global economic crisis and the confidence of many investors during a lengthy tax dispute with the United States.
Regarding this dispute, the report acknowledged that the bank had not made a comprehensive assessment of the compliance risk of its U.S. cross-border wealth management business before the investigation by U.S. authorities
Wednesday, October 6, 2010
'Foreclosure-gate' Continues: Ohio to Sue Major Servicer
http://www.nationalmortgagenews.com/dailybriefing/2010_193/ohio-to-sue-major-servicer-1021548-1.html
Looks like someone is going to have a down turn in their stock tomorrow
Ohio Attorney General Richard Cordray said that on Wednesday afternoon he will unveil a civil fraud case against a "national loan servicer," charging that company with foreclosure fraud in regard to hundreds of loans in the state.
At press time, the AG's office declined to identify the servicer, but promised to do so at 3:30 p.m. Eastern Standard Time.
Last week, AG Cordray sent a letter to Ohio judges requesting that state courts make special review of all foreclosure cases that involve GMAC Mortgage, a subsidiary of Ally Financial.
The letter was sent in response to recent reports of questionable affidavit procedures by the government owned lender/servicer.
Ohio investigators believe "the affidavits were being signed en masse, and that those signing them were attesting to having personal knowledge about matters that they in fact knew little or nothing about," according to a statement released by the AG's office.
Looks like someone is going to have a down turn in their stock tomorrow
Ohio Attorney General Richard Cordray said that on Wednesday afternoon he will unveil a civil fraud case against a "national loan servicer," charging that company with foreclosure fraud in regard to hundreds of loans in the state.
At press time, the AG's office declined to identify the servicer, but promised to do so at 3:30 p.m. Eastern Standard Time.
Last week, AG Cordray sent a letter to Ohio judges requesting that state courts make special review of all foreclosure cases that involve GMAC Mortgage, a subsidiary of Ally Financial.
The letter was sent in response to recent reports of questionable affidavit procedures by the government owned lender/servicer.
Ohio investigators believe "the affidavits were being signed en masse, and that those signing them were attesting to having personal knowledge about matters that they in fact knew little or nothing about," according to a statement released by the AG's office.
Subscribe to:
Posts (Atom)