BREAKING: Benton Harbor City Comm. rules EFM takeover unconstitutional + more recalls Updated at 12:55 PM
Edited on Tue May-03-11 09:59 AM by kpete
Source: Daily Kos
BREAKING: Benton Harbor City Comm. rules EFM takeover unconstitutional + more recalls!
byEclectablog
Yesterday, by a vote of 6 to 2, the Benton Harbor City Commission and Mayor declared the appointment of Joseph Harris as the Emergency Financial Manager and his subsequent stripping of the Commission's ability to govern the City unconstitutional.
Whereas, The City of Benton Harbor declares the appointment of an Emergency Manager a violation of Article I §1, which states that all political power is inherent in the people and that government is instituted for their equal benefit, security and protection.
Whereas, The City of Benton Harbor declares the appointment of an Emergency Manager a violation of Article I §3, which allows the citizens of Benton Harbor the right to petition the government for redress of grievances.
...............
Resolved, The appointment of an Emergency Manager is in direct violation of the Michigan Constitution and therefore demands the removal of said Emergency Manager immediately.
Read more: http://www.dailykos.com/story/2011/05/03/972631/-BREAKI... !
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x4837267
Tuesday, May 3, 2011
Deutsche Bank Faces U.S. Fraud Lawsuit Over Mortgage Lending
May 03, 2011, 10:57 AM EDT
More From Businessweek
U.S. Seeks $1 Billion From Deutsche Bank in Mortgage Fraud Suit
U.S. Sues Deutsche Bank and MortgageIT Unit Over Loan Program
Rajaratnam, Barclays, JPMorgan, Citigroup in Court News
Justice Department Said to Extend Review of T-Mobile Bid by AT&T
Lehman Seeks $500 Million From Barclays in Bonus Dispute
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By David Voreacos
(Updates with possible damages in fifth paragraph.)
May 3 (Bloomberg) -- Deutsche Bank AG, Germany’s biggest bank, was sued for more than $1 billion by the U.S. government for allegedly selecting mortgages “recklessly” for inclusion in a government insurance program.
The Frankfurt-based bank and its MortgageIT unit violated the U.S. False Claims Act by presenting fraudulent data to obtain mortgage insurance from the Federal Housing Administration of the U.S. Housing and Urban Development Department, according to the complaint filed today in Manhattan federal court.
“While Deutsche Bank and MortgageIT profited from the resale of these government-insured mortgages, thousands of American homeowners have faced default and eviction, and the government has paid hundreds of millions of dollars in insurance claims, with hundreds of millions of dollars more expected to be paid in the future,” according to the complaint.... see link above for more.
More From Businessweek
U.S. Seeks $1 Billion From Deutsche Bank in Mortgage Fraud Suit
U.S. Sues Deutsche Bank and MortgageIT Unit Over Loan Program
Rajaratnam, Barclays, JPMorgan, Citigroup in Court News
Justice Department Said to Extend Review of T-Mobile Bid by AT&T
Lehman Seeks $500 Million From Barclays in Bonus Dispute
Story Tools
e-mail this story
print this story
1digg
add to Business Exchange
By David Voreacos
(Updates with possible damages in fifth paragraph.)
May 3 (Bloomberg) -- Deutsche Bank AG, Germany’s biggest bank, was sued for more than $1 billion by the U.S. government for allegedly selecting mortgages “recklessly” for inclusion in a government insurance program.
The Frankfurt-based bank and its MortgageIT unit violated the U.S. False Claims Act by presenting fraudulent data to obtain mortgage insurance from the Federal Housing Administration of the U.S. Housing and Urban Development Department, according to the complaint filed today in Manhattan federal court.
“While Deutsche Bank and MortgageIT profited from the resale of these government-insured mortgages, thousands of American homeowners have faced default and eviction, and the government has paid hundreds of millions of dollars in insurance claims, with hundreds of millions of dollars more expected to be paid in the future,” according to the complaint.... see link above for more.
Chris Hedges Speaks on Osama Bin Laden's Death
Posted on May 1, 2011
AP / Pablo Martinez Monsivais
"Chris Hedges, speaking at a Truthdig fundraising event in Los Angeles on Sunday evening, made these remarks about Osama bin Laden’s death.
I know that because of this announcement, that reportedly Osama bin Laden was killed, Bob [Truthdig Editor Robert Scheer] wanted me to say a few words about it … about al-Qaida. I spent a year of my life covering al-Qaida for The New York Times. It was the work in which I, and other investigative reporters, won the Pulitzer Prize. And I spent seven years of my life in the Middle East. I was the Middle East bureau chief for The New York Times. I’m an Arabic speaker. And when someone came over and told ... me the news, my stomach sank. I’m not in any way naive about what al-Qaida is. It’s an organization that terrifies me. I know it intimately.
But I’m also intimately familiar with the collective humiliation that we have imposed on the Muslim world. The expansion of military occupation that took place throughout, in particular the Arab world, following 9/11—and that this presence of American imperial bases, dotted, not just in Iraq and Afghanistan, but in Kuwait, Saudi Arabia, Doha—is one that has done more to engender hatred and acts of terror than anything ever orchestrated by Osama bin Laden. "
more at: http://www.truthdig.com/report/item/chris_hedges_speaks_on_osama_bin_ladens_death_20110502/
AP / Pablo Martinez Monsivais
"Chris Hedges, speaking at a Truthdig fundraising event in Los Angeles on Sunday evening, made these remarks about Osama bin Laden’s death.
I know that because of this announcement, that reportedly Osama bin Laden was killed, Bob [Truthdig Editor Robert Scheer] wanted me to say a few words about it … about al-Qaida. I spent a year of my life covering al-Qaida for The New York Times. It was the work in which I, and other investigative reporters, won the Pulitzer Prize. And I spent seven years of my life in the Middle East. I was the Middle East bureau chief for The New York Times. I’m an Arabic speaker. And when someone came over and told ... me the news, my stomach sank. I’m not in any way naive about what al-Qaida is. It’s an organization that terrifies me. I know it intimately.
But I’m also intimately familiar with the collective humiliation that we have imposed on the Muslim world. The expansion of military occupation that took place throughout, in particular the Arab world, following 9/11—and that this presence of American imperial bases, dotted, not just in Iraq and Afghanistan, but in Kuwait, Saudi Arabia, Doha—is one that has done more to engender hatred and acts of terror than anything ever orchestrated by Osama bin Laden. "
more at: http://www.truthdig.com/report/item/chris_hedges_speaks_on_osama_bin_ladens_death_20110502/
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