Hillary Clinton to Announce Plan to Rein in Wall Street ‘Abuses’

Well, we have to give her the opportunity to express her program… But, meanwhile – just remember all the promises Obama made…

justiceleague00's avatarJustice League

U.S. Democratic presidential candidate Hillary Clinton said Tuesday that she will lay out her plan to rein in Wall Street “abuses” within the next week.

“I’m going to be proposing in the next week what I think will be the best way to go after Wall Street abuses and rein in the too-big-to-fail banks and other institutions,” Clinton said at an Iowa campaign stop.

Clinton said her plan would focus on more than banks, taking into account any kind of financial institution that causes disruption in the marketplace.

“What I’m proposing is that we go after the risk,” Clinton said. “If they are so big that they are causing disruptions in the marketplace, that’s a risk. So I have what I consider to be a more comprehensive approach toward what we need to do to rein in the big institutions, including the banks.”

Clinton also indicated that she would address…

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Investment banker’s suicide highlights pressures industry brings

justiceleague00's avatarJustice League

Since January 2014, HousingWire has reported on what appears to be a tragic trend of suicides and mysterious deaths of financial executives and bankers.

Here is just a little of our past coverage.

Third prominent banker found dead in six days

More details emerge about three bankers who died in six days

Fourth suicide for finance executive under investigation

JPMorgan global program trading exec, dead at 37

Fifth financial executive with ties to JPMorgan found dead

London authorities open investigation into banker deaths

Death of banker under mysterious circumstances makes 36 in 2014

Now, the New York Times profiles a young investment banker who tragically took his own life, and the circumstances that may have contributed to it.

In retrospect, it was around Easter that John Hughes began to think something unusual was going on with his middle son, Thomas, a 29-year-old investment banker.

John’s former wife, Marypat, had arranged…

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Ben Bernanke Says More People Should Have Gone To Jail For Causing The Great Recession

justiceleague00's avatarJustice League

Gee ya think, Ben? Now that the statute of limitations is up, everybody wants to talk tough against Wall Street!

Zerohedge:

First, tomorrow Ben Bernanke will be on CNBC’s Squawk Box to promote his book, the same CNBC which from a credible financial channel has metamorphosed into an outlet whose only purpose is to cheerlead the stock market and get as many people invested in the next and final Ponzi as possible. He will also discuss the disastrous state of the post-post-bubble economy and the latest plunge in payrolls.

Second, today as part of the same book promotion tour (supposedly because nobody wants to pay Bernanke $250,000 to listen to an hour of bullshit now that the Fed no longer has credibility) he had this exchange with the USA Today’s Susan Page:

Q. Should somebody have gone to jail.

Bernanke: Yeah, yeah I think so. I have objected for…

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Countrywide COO who took rap for 2008 crisis prepares her appeal

justiceleague00's avatarJustice League

Rebecca Mairone scarcely deserves a mention in the annals of finance, except for this: She’s the only executive of a major U.S. mortgage lender found liable for her part in the 2008 financial crisis.

Mairone was chief operating officer for a division of Countrywide Financial Corp., the California giant that came to symbolize the excesses of the subprime era. While top executives there and elsewhere walked away, Mairone, now 48, was targeted in a civil case by federal prosecutors. In October 2013, a Manhattan jury found her liable for misrepresenting the quality of mortgages her company sold to Fannie Mae and Freddie Mac. U.S. District Judge Jed Rakoff called her testimony “implausible” and slapped her with a $1 million fine. Bloggers said she helped destroy the U.S. economy and should be jailed or worse.

Two years later, Mairone is heading back to court in an attempt to overturn that ruling…

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Man trying to keep home from foreclosure says Ocwen didn’t credit payments

justiceleague00's avatarJustice League

AURORA, Colo. — A loan service company based in Florida has one Aurora man afraid he’s about to lose his home.

So he reached out to the FOX31 Denver Problem Solvers trying to find help.

We have been digging, working for weeks to help solve loan collection problems for a man in Aurora who says he’s also dealing with a language barrier.

But we found the company has more barriers than just language, when it comes to dealing with frustrated customers.

Vi K. Tran shows us some of the paperwork he says he’s collected. He’s trying to keep his home in Aurora from going into foreclosure.

“I’m so upset about it,” said Tran. “I want to solve the problem; They don’t want to.”

“They” is Ocwen Loan Servicing of central Florida, essentially a debt collection company now handling his mortgage after he ran into some hard times.

“They told me ‘your…

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99 Abandoned Homes | The Housing Justice Foundation

Alina's avatarAlina's Blog

99Homes-13.jpg-nggid0239-ngg0dyn-300x225x100-00f0w010c010r110f110r010t010

The much-praised and long-awaited film “99 Homes” opens in six cities October 2, 2015 and nationally on October 9, 2015. The film is a fast-paced thriller that takes a hard look at the brutal reality of the foreclosure crisis. Audiences and critics have praised the film, particularly the performances of Andrew Garfield, Michael Shannon and Laura Dern, and the writing and direction of Ramin Bahrani.

via 99 Abandoned Homes | The Housing Justice Foundation.

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Crisis in Florida Courts: (It’s not the unfairness of foreclosure) It’s Judges Wearing Colored Robes!

And protecting their pensions and investments.

Alina's avatarAlina's Blog

There is a crisis that seriously impacts the integrity of the judicial system. And no, I’m not talking about the way the courts all across this state have set out, openly antagonistic to the interests of consumers as we’ve all experienced for years in the foreclosure process. And no, I’m not talking about broom closets  …

Source: Crisis in Florida Courts: (It’s not the unfairness of foreclosure) It’s Judges Wearing Colored Robes!

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BofA to cut ‘a couple of hundred’ jobs: WSJ

justiceleague00's avatarJustice League

(Reuters) – Bank of America Corp is planning “a couple of hundred” job cuts at its global banking and markets unit, the Wall Street Journal reported.

The bank could announce the layoffs as early as Tuesday, the Journal said, citing people familiar with the matter.

Bank of America, which had about 216,700 full-time employees as of June 30, could not be immediately reached for comment.

Read on.

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The Foreclosure Crisis

There is a lot we need to learn from the past.

Rick Cooley's avatarRcooley123's Blog

What happened to all the homes foreclosed on when the housing bubble burst? Millions of people lost their homes and most of their life savings when the value of their homes plummeted during the most recent financial collapse. Many found they could not keep up with mortgage payments, either because they lost their jobs during the recession or because they were overextended financially for some other reason. Some would say many never should have been offered the loans in the first place. The fact remains that many people went from pursuing the “American Dream” of home ownership to struggling just to keep a roof over their heads by renting in a very short span of time.

The banks lost tons of money on loans that would never be paid in full, but they did have something very tangible in place of the money – the property. The real estate still…

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