New Ariz. AG won’t drop BofA suit PHOENIX – Arizona’s new Republican attorney general won’t give Bank of America any relief from a mortgage fraud lawsuit filed in the final days of his Democratic predecessor’s tenure. Attorney General Tom Horne told The Associated Press on Monday that he’ll pursue the suit filed on Dec. 17 alleging that the lender misled and deceived homeowners who tried to modify their mortgages. The suit accuses the bank of repeatedly assuring customers that their loans were being modified to get them to continue making payments, then foreclosing on their homes. ( Read BofA more… ) Kaplan to leave BofA for hedge fund Please respect FT.com’s ts&cs and copyright policy which allow you to: share links; copy content for personal use; & redistribute limited extracts. Email ftsales.support@ft.com to buy additional rights or use this link to reference the article – http://www.ft.com/cms/s/0/cba2ad86-436a-11e0-8f0d-00144feabdc0.html#ixzz1FINIluwz Steven Baronoff will again take control of the deals business at Bank of America Merrill Lynch, after the decision by Jeff Kaplan, the global head of mergers and acquisitions, to leave the bank for a hedge fund. Mr Kaplan, who joined Merrill Lynch in 1987, will become chief operating officer of Appaloosa Management, the hedge fund group founded by David Tepper, according to a message sent to Bank of America employees. ( Read BofA more… ) BofA, Citi Short Interest Up Citigroup short interest rose to more than 405 million shares from just under 402 million at the end of January. Bank of America short interest passed 85 million shares, up from about 79 million at the end of last month. Bets against Synovus, meanwhile, dropped to roughly 91 million, from about 99 million in the prior period. It was Regions, however, that saw the biggest percentage drop in short interest. It fell below 41 million shares from more than 58 million at the end of January–a 29% move. ( Read BofA more… ) BofA’s Kaplan Leaves for Appaloosa; Baronoff Named M&A Chief Bank of America Corp., the biggest U.S. lender by assets, said Steven Baronoff will assume Jeff Kaplan’s duties leading mergers and acquisitions. ( Read BofA more… ) BofA analysts claim GSE reform ‘politically infeasible’ Bank of America Merrill Lynch analysts said Fannie Mae and Freddie Mac reform may not be as imminent as many think and could prove to be “politically infeasible.” BofAML hosted a conference call Monday on the state of housing finance in the nation. In slides provided to HousingWire, housing researcher Chris Flanagan describes the mortgage origination outlook for 2011 as “bleak,” with prices expected to drop another 3% and volumes down 30%. In short, this year will likely offer no large changes to the mortgage markets compared to last year, and the GSEs dominance may continue to increase. ( Read BofA more… ) BofA’s Laughlin Squeezed by Mortgage Investors, Regulators By Hugh Son (Updates with subpoenas in the 13th paragraph.) Feb. 28 (Bloomberg) — Bank of America Corp.’s Terry Laughlin, head of a new unit managing foreclosures and soured loans, faces increasing pressure from bond buyers and regulators seeking payback for the firm’s role in the housing collapse. The bank may face “material fines” from government probes into possible irregularities in foreclosure processes, Charlotte, North Carolina-based Bank of America said late Feb. 25 in its annual report. The firm also said that a bondholder group including Pacific Investment Management Co. has almost doubled the number of mortgage deals on which it’s challenging the bank. Legal costs may be as much as $1.5 billion higher than what the bank had set aside, according to the filing. ( Read BofA more… ) BofA Expects Libya Oil Production To Shut Down Completely And some more variables to add to th e total confusion in everything, from Reuters: Oil production in Libya is expected to shut down completely and could be lost for a prolonged period of time, Bank of America Merrill Lynch said on Thursday. “We expect Libyan production to be shut down completely and we might lose sweet crudes from Libya for a prolonged period of time,” Bank of America Merrill Lynch analyst Sabine Schels told Reuters. Schels said that the world faced the prospect of real supply shock in which the loss of 1.6 million barrels per day of sweet oil could potentially trigger a steep rise in prices and force a sharp reduction in demand to balance the system. ( Read BofA more… ) Related Searches : bank of america, bank of america home loans, bank of america online banking, bank of, bank of america credit card Courtesy : KTAR , FT , The Street , Buzz Crunch , Housing Wire , Bloomberg & Zero Hedge
Continue reading …At least twelve people were injured after a man drove his car into a protest promoting the use of bicycles as a means of transportation in Porto Alegre, Brazil. Please note, the following video includes GRAPHIC CONTENT. (Feb. 28)
Continue reading …Click here to view this media It was bad enough that most of the media — outside of the liberal anchors at MSNBC — refused to recognize the import of the content of that prank phone call to Scott Walker . Even more appalling was watching this weekend as the Beltway Villagers bent over backwards to thoroughly dismiss the story — led by Howard Kurtz and the execrable Amy Holmes at CNN’s Reliable Sources on Sunday. Their chief means of dismissing the story was to compare the Buffalo Beast’s revealing hoax call as “not journalistic” while comparing it to the treatment given the hoax ACORN videos of 2009: HOLMES: Right. Well, I think because it fits their ideological framework. And I looked at this, and he was hailed as “Most Intriguing Person of the Day” by CNN. And you didn’t see the hand-wringing over journalistic ethics like you did, say, in the ACORN case, when those two young people used the same sorts of tactics of being an impostor and sort of — some people would say tricking people into participating in this. And there, there was a huge discussion about journalism and is this fair, is this right? In this, it was, like, he’s a hero. He accomplished a feat, as you just heard. … KURTZ: And as Amy points out though, when the ACORN sting happened — you remember James O’Keefe and the pimp and the prostitute — liberal commentators all attacked them, but Fox News played them up and that story up in a way that was much more favorable. So how much of this is ideological. HOLMES: Right. And the ACORN folks, they said that they were activists. They were very explicit about their point of view, where, in this case, oh, well, maybe he’s a blogger, maybe he’s a journalist. It doesn’t really matter and he doesn’t get any kind of criticism for his methods. But how did Kurtz and Co. — including Holmes — treat the ACORN videos back in 2009 ? Well, as it happens, they attacked other media outlets for their reluctance to treat the videos as legitimate! KURTZ: But much of the mainstream media was well behind on this story. CNN also jumped on the budding scandal 10 days ago, though not with anything approaching Fox’s intensity. But it took five days to hit the CBS “Evening News” and six days to be reported by ABC’s “World News,” NBC “Nightly News” and MSNBC. Chris, there was two conservative activists, James O’Keefe and Hannah Giles, posing as a pimp and a ho, get this footage with a hidden camera. Is that journalism? CILLIZZA: I think there is a blurry line of what journalism is now, Howie, with video on demand, with blogs. I will go back to a somewhat less controversial example. Mayhill Fowler, a Democratic donor, wound up in a San Francisco fund-raiser for Barack Obama in which he said some voters in Pennsylvania are “embittered and cling to their guns.” … HOLMES: If — if liberal activist had walked into the Heritage Foundation, for example, and conducted the same sort of sting operation, it would have been on the front page of The Washington Post in a day. I think that what we’re seeing here was — is this just a right- wing, sort of, fringe story that the mainstream media didn’t want to touch with a 10-foot pole, or this a real story about corruption at this organization? And I think the mainstream media, because it was conservative activists going into a liberal organization, were a little bit wary, I would say, of the story. Indeed, Kurtz even penned the following line in the Washington Post , defending the content of the videos: Nearly everyone dismissed Beck’s charge that the president is a racist, but the ACORN videos he and Hannity trumpeted on Fox proved to be a legitimate story. But as the folks at FAIR detailed at the time, not only did the mainstream media lap it all up avidly, there was almost nothing legitimate at all in the ACORN videos — beginning with the methods used to obtain the videos, but even more significantly, in the faked conclusions they were intended to lead observers to reach. The hoax in those videos was not only perpetrated on the videos’ subject, but on their intended audience as well. ( Media Matters has the definitive details of the scope of the hoax.) It’s standard modus operandi Andrew Breitbart and Co. Of course, Kurtz defended Breitbart even through the Shirley Sherrod fiasco, too. He only seemed to wake up when O’Keefe tried to scam a CNN reporter — at which point he began dismissing him as a “fake pimp” . So it was the theme of Sunday’s show that there was nothing, NOTHING worth legitimately reporting on in the case of the Walker hoax, too — as Jim Warren tried to emphasize: WARREN: Yes. I mean, on one hand, I thought it was fascinating and revealing, what was going on in the governor’s mind in a certain sort of cynical pragmatism that was playing out on his side. At the same time, I didn’t see this guy as performing any vaguely legitimate form of journalism. He was perpetuating an absolute hoax, starting with misidentifying himself. Although I think there are times when mainstream legitimate journalists can misidentify themselves. But, boy, it has to be for higher causes — maybe saving lives or actually revealing some huge systemic government fraud. In a case like this, just to embarrass, no. The problem for Warren, Kurtz, and Holmes et. al. is that the hoax wasn’t simply an attempt to embarrass Walker — it legitimately laid bare, through well-known means of trickery, the cozy relationship between Walker and his financial beneficiaries. As the WaPo’s Greg Sargent put it at the time : UPDATE, 11:54 a.m.: In a key detail, Walker reveals that he is, in effect, laying a trap for Wisconsin Dems. He says he is mulling inviting the Senate and Assembly Dem and GOP leaders to sit down and talk, but only if all the missing Senate Dems return to work. Then, tellingly, he reveals that the real game plan here is that if they do return, Republicans might be able to use a procedural move to move forward with their proposal. “If they’re actually in session for that day and they take a recess, this 19 Senate Republicans could then go into action and they’d have a quorum because they started out that way,” he says. “If you heard that I was going to talk to them that would be the only reason why.” Then the fake Koch says this: “Bring a baseball bat. That’s what I’d do.” Walker doesn’t bat an eye, and responds: “I have one in my office, you’d be happy with that. I’ve got a slugger with my name on it.” 12:09 p.m.: Another key exchange: FAKE KOCH: What we were thinking about the crowds was, planting some troublemakers. WALKER: We thought about that. My only gut reaction to that would be, right now, the lawmakers I talk to have just completely had it with them. The public is not really fond of this.The teachers union did some polling and focus groups… It’s unclear what Walker means when he says he “thought” about planting some troublemakers, but it seems fair to ask him for clarification. Indeed, it was amusing watching Walker try to lie his way past the gaffe. Amusing, that is, except for the subsequent eagerness of the mainstream press to help him cover it all up. UPDATE: John Amato: Even the Washington Post bought into the ACORN atrocity video perpetrated by O’Keefe; their ombudsman, Andrew Alexander, also wrote that it was a legitimate story and promised to take conservative pundits more seriously in the future: Wrongly Deaf to Right-Wing Media? It’s tempting to dismiss such gimmicks. Fox News, joined by right-leaning talk radio and bloggers, often hypes stories to apocalyptic proportions while casting competitors as too liberal or too lazy to report the truth. But they’re also occasionally pumping legitimate stories. I thought that was the case with ACORN and, before it, the Fox-fueled controversy that led to the resignation of White House environmental adviser Van Jones. With ACORN, The Post wrote about it two days after the first of several explosive hidden-camera videos were aired showing the group’s employees giving tax advice to young conservative activists posing as a prostitute and her pimp. Three days passed before The Post ran a short Associated Press story about the Senate halting Housing and Urban Development grants to ACORN, which operates in 110 cities. But by that time, the Census Bureau had severed ties with ACORN. State and city investigations had been launched. It wasn’t until late in the week that The Post weighed in with two solid pieces. Why the tardiness? One explanation may be that traditional news outlets like The Post simply don’t pay sufficient attention to conservative media or viewpoints. It “can’t be discounted,” said Tom Rosenstiel, director of the Pew Research Center’s Project for Excellence in Journalism. “Complaints by conservatives are slower to be picked up by non-ideological media because there are not enough conservatives and too many liberals in most newsrooms.” I criticized Alexander for his insanity in with my 2009 piece: The Washington Post bows down to Conservatives! So as I watched the above segment from Reliable Sources yesterday, my blood began to boil because they make believe like their glowing coverage of the ACORN story previously never happened. Media Matters called Alexander out over his op-ed too: Post ombudsman adopts right-wing mantra that ACORN videos are a major story The Washington Post even falsely reported about the events that actually took place. You see, O’Keefe was never dressed up as a pimp when he went into ACORN’s offices, a point which drove the story on FOX, but the WaPo never bothered to correct its own error. To top it off, the Washington Post even promoted the phony Black Panthers story. Conservatives don’t only get help from Fox News and hate talk radio. They have the traditional media in their pockets too.
Continue reading …THE US military is moving naval and air forces into position around Libya, as Western countries weigh intervention against Muammar Gaddafi's regime. The…
Continue reading …On his first day at MSNBC, new host Martin Bashir immediately adopted the network's liberal line, attacking a conservative Congressman for advocating severe spending cuts, deriding it as ” the most disingenuous play on the American people .” Previewing the interview with Representative Joe Walsh of Illinois, Bashir noted that he has refused congressional health care. The anchor solemnly wondered, “Is that his idea of health care for every American?” Bashir, who previously co-anchored ABC's Nightline, offered this loaded question to the Republican: “You're a freshman in this Congress. Are you satisfied that your first significant act in Washington will help bring the government to a standstill?” The cable host closed out this interview and then snidely segueing to his next guest: “And for more on the political ramifications of this budget battle, including, hopefully, a little truth serum, let's bring in NBC news analyst and senior political editor at the Huffington Post, Howard Fineman.” A transcript of the segment, which aired at 3:10pm EST, follows: MARTIN BASHIR: And when we come back, a congressman who refuses health care, even with a wife who has a preexisting condition. Is that his idea of health care for every American? 3:13 BASHIR: Now to the possible government shutdown looming at end of the week. Both parties say they're considering a Republican plan to keep things up and running, but the clock is ticking. Speaker of the House John Boehner says continuing to do the people's work, well, it's a moral issue. SPEAKER OF THE HOUSE JOHN BOEHNER: We have a moral responsibility to address the problems that we face and that means working together to cut spending and to rein in government, not shutting it down. BASHIR: Congressman Joe Walsh is a Republican from Illinois and he joins me live from the capitol. Mr. Walsh, good afternoon. REP. JOE WALSH: Good afternoon, Martin. Congrats on the show. BASHIR: Thank you very much. You're a freshman in this Congress. Are you satisfied that your first significant act in Washington will help bring the government to a standstill? WALSH: You know, absolutely. Republicans have been clear that we don't want a shut down government. And I think it's very impressive that we sent a two-week- a two-week budget over to the Democrats in the Senate to try to keep the dialogue going so that we can avoid shutting down government. But, Martin, make no mistake, they sent us here to cut spending, and that's what's in this two-week CR. BASHIR: Let's just sit for a moment on the cutting and spending. Isn't this the most disingenuous play on the American people? Because from Planned Parenthood to collective bargaining in Wisconsin, spending cuts is the excuse. But the real target, well, that's your political opponents. WALSH: No. You know what? Martin, spending cuts are the real truth. That's why 87 Republican freshmen were sent to Washington. The Speaker alluded to it as a moral issue. It is a moral issue. Our country's broke and that's because we're spending too much. We're on a path right now that's going to bankrupt our kids and grand kids and that's morally irresponsible. That's almost criminal to do to future generations. The Republicans are keeping their word, and we're systemically going to go at the spending problem. BASHIR: You've said President Obama ought to be ashamed of himself for not dealing with- for not dealing with entitlements in his budget. You say it's time to raise the retirement age and means test Social Security. But, do you have support from Speaker John Boehner? WALSH: Absolutely. Look at Paul Ryan. Look at Paul Ryan to the north of me in Wisconsin. He has been a leader on this. He stuck his neck out last year and proposed reforms of Medicare and Social Security. Martin, I stand by those words. The President put out a budget and he should be ashamed of himself because he punted on entitlement reform. And everybody in this town knows that you've got to have a serious dialogue about Social Security and Medicare because that's where the bulk of the spending is. The Republicans are not going to be afraid to take the lead on this. And I think the American people are ready for that discussion. BASHIR: Is it true that your own wife has decided to reject any health care insurance at this time? WALSH: I pledged a year ago that, if I were elected, I'd turn down all congressional health care and retirement benefits. I just don't believe, as a member of Congress, you should take those. I don't want to increase the federal footprint, no matter how much it costs. It means a lot to me. And my wife was with me every step of the way. She had a procedure last week, Martin. She did have a preexisting condition and like a lot of Americans
Continue reading …So you just got a Nintendo 3DS following its launch in Japan — what do you do? While most would be content to simply pass the time with Pilotwings for at least a few days, others are a bit more… curious. In that group you’ll find the folks from Tech-On! , who have already torn the handheld apart and even gone the extra mile to examine its 3D display under a microscope — they assume it’s a Sharp parallax barrier display , but weren’t able to confirm it as such. As if that wasn’t enough for a day-old system, YouTube user ayasuke2 has already hacked the system use R4 cards and run unauthorized Nintendo DS games. Head on past the break for some video evidence of that, and hit up the source link below for the complete teardown. Continue reading Nintendo 3DS gets torn apart and hacked a day after Japanese launch Nintendo 3DS gets torn apart and hacked a day after Japanese launch originally appeared on Engadget on Mon, 28 Feb 2011 13:21:00 EDT. Please see our terms for use of feeds . Permalink
Continue reading …Apple’s been working hard to chip away at RIM’s lead in the enterprise over the last couple years by beefing up iOS’ IT policy management chops in ways that traditionally only BlackBerry (and the now-marginalized Windows Phone 6.5 / Windows Embedded Handheld platform ) have excelled at, but Motorola — a company that’s got virtually 100 percent of its skin in the Android game — would obviously like to see that change. To that end, it acquired a little company called 3LM (that’s “Three Laws of Mobility”) last year that’s been working on an enterprise management platform for Android, and it appears they’ve pulled off a bit of a coup — not only will its parent company be supporting it on devices starting in the second quarter of the year, but devices from competitors like HTC, Sharp, Sony Ericsson, and Pantech are on board, too. A standard software package for this sort of thing is just what IT bosses like to see — and it could be Android’s most dangerous strike yet on the enterprise side of the market. Follow the break for Moto’s press release. Continue reading Motorola subsidiary 3LM to offer enterprise-class device management for Android; HTC, Sony Ericsson, others on board Motorola subsidiary 3LM to offer enterprise-class device management for Android; HTC, Sony Ericsson, others on board originally appeared on Engadget on Mon, 28 Feb 2011 17:21:00 EDT. Please see our terms for use of feeds . Permalink
Continue reading …When we think of cleantech and renewable energy, we usually think of advances in the US, western Europe, or China. Our minds don’t flip to Mexico. But CleanTechies has an interesting write up of the top ten areas where Mexico is working to decrease dependence on oil production and increase its renewable energy potential. It’s an interesting break-down, and well worth a read. … Read the full story on TreeHugger
Continue reading …Oscar Winners: Colin Firth Oscar Acceptance Speech (Video … Among Oscar winners, Colin Firth’s Oscar acceptance speech (video) was definitely a highlight. Watch Colin Firth’s Oscar acceptance speech for The King’s Speech. Watch Colin Firth Oscar Acceptance Speech (Video) Watch Colin Firth’s acceptance speech (video), where Firth talks about the inspiration to dance following his win for Best Actor in The King’s. Natalie Portman and Colin Firth Oscar Acceptance Speech Natalie Portman and Colin Firth Oscar Acceptance Speech . Pregnant Natalie Portman thanked fiancé Benjamin Millepied for giving her the “most important role of her life” as she picked up the best actress oscar for her part in Black Swan. … Colin Firth Oscar Acceptance Speech | Daily Postal A well-deserved win for Colin Firth in the Oscars 2011 Sunday night. The King’s Speech actor won the Best Actor Oscar for the movie where he played the ro… Colin Firth Oscar Acceptance Speech 2011 (WATCH)! | Twirlit Did you miss Colin Firth’s acceptance speech at last night’s Oscars? Check it out here! writewrds says: #OscarRecap RT @amotherworld : Colin Firth Oscar Acceptance Speech was King! Read the Transcript | Famecrawler http://su.pr/22Mw0s
Continue reading …