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Posts Tagged with "mortgage-backed securities"

Why all the robo-signing?

January 24, 2012

The Wall Street Journal reported on Jan. 19 that the Obama administration was pushing heavily to get the 50 state attorneys general to agree to a settlement with five major banks in the “robo-signing” scandal. The settlement would let Wall Street bankers off the hook for crimes that would land the rest of us in jail.

Lennar’s trickle up ‘profits’

January 21, 2010

1) Lennar paid federal lobbyists $240,000 to win them a $320 million cash bailout characterized as a retroactive tax refund. 2) In the accounting for its fourth quarter report, announced on Jan. 7, 2010, Lennar used $284.9 million of the $320 million to offset its quarter losses. 3) Lennar then reported the remaining $35.6 million as profit, earned income. 4) Taxpayers, yet again, footed the bill.

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