January 2008 - Posts

• Cleveland Sues 21 Lenders Over Subprime Mortgages

  By CHRISTOPHER MAAG, The New York Times - - CLEVELAND — Cleveland is suing 21 of the nation’s largest banks and financial institutions, accusing them of knowingly plunging the city into a financial crisis by flooding the local housing market with subprime mortgage loans to people who could never repay. The city is seeking “at least” hundreds of millions of dollars in damages, Cleveland’s law director, Robert J. Triozzi, said Friday. The list of defendants includes some of the most prominent firms on Wall Street, like Citigroup, Bank of America, Wells Fargo, and Countrywide Financial. Mayor Frank G. Jackson said in an interview on Friday that the companies would be “held accountable for what they’ve done.” Click here to read this article. posted Jan 14 2008, 01:01 PM by admin with no comments

• Supreme Court will hear voter ID case

  Republicans say they want to prevent voter fraud. Democrats say rights will be damaged. Neither has concrete evidence. By David G. Savage, Los Angeles Times Staff Writer - - WASHINGTON -- Just as the 2008 election is shifting into high gear, the Supreme Court will take up a voting rights case Wednesday that could affect the outcome in some close contests this year and well into the future. At issue is whether states may require voters to show a driver's license or a passport at their polling places. Voting rights advocates are calling it the most important election-law case since Bush vs. Gore in 2000, and the partisan divide is nearly as sharp. Click here to read the rest of this article. posted Jan 08 2008, 08:54 AM by admin with no comments