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Tens of thousands of people may have taken advantage of the first-time home buyer tax credit to defraud the government, an IRS watchdog office said Thursday, in testimony that could jeopardize efforts to extend the popular program.
Two Democrats on the House Oversight and Government Reform Committee are joining with panel Republicans in formally calling for Chairman Edolphus Towns (D-N.Y.) to launch an investigation of the Countrywide VIP loan scandal.
Before Henry Paulson become Secretary of the Treasury, he was required by law to sell all of his shares in Goldman Sachs. He was allowed to sell all of his shares of Goldman Sachs stock tax-free. Thus, by becoming Secretary of the Treasure, he was
rganized crime gangs are exploiting a new target for illegal profit: Medicare and Medicaid "They're hitting us and hitting us hard," said Timothy Menke, head of investigations for the Office of Inspector General at the Department of Health and Human
The prospect of Goldman Sachs awarding record bonuses in the wake of the financial collapse has the potential to incite a broad-based populist backlash, argues Martin Sieff. He explores how Wall Street has roused the public's ire in much the same way
Barclays Capital hosted a private meeting yesterday with Goldman Sachs president Gary Cohn, CFO David Viniar and Global Sales and Treading co-heads David Heller and Harvey Schwartz. How concerned are they about any new regulations on the financial in
There is a sense that if you make money you are going to give. Making money, however, is different from stealing money. If you steal the money, you are not expected to give it to a charity my friends. If you steal the money we will take the money bac
Time to call out the outrageous actions this "bank" has taken. Let's first start with the fact that Capital One, along with most of the other "big banks", took TARP money. Why did they need/take TARP money? Simple: They were incompetent in their
As the Obama Administration prepares a new TARP-like program, this time targeting smaller, community and local banks, Inspector General Neil Barofsky thinks “it’s unrealistic to think we’re going to get all that money back” in a statement made Wednes
Goldman Sachs CEO, Lloyd Blankfein to Obama: "Here boy, be a good dog and SIT"
[Aggravated assault? I'm thinking assault with a deadly weapon.] The case against Apache Junction Vice Mayor R.E. Eck was sent to the Gila County Attorney's Office for review to determine if he should face felony charges over an early-morning road r
Please note that I, the reporter of this story, and not Rock Art Brewing Company, am calling for a boycott. This is big corporations leaning on sovereign individuals not because they should, not because they have to but because they can.
Exciting tour starting in Florida.
On Tuesday, March 11th, 2008, somebody — nobody knows who — made one of the craziest bets Wall Street has ever seen. The mystery figure spent $1.7 million on a series of options, gambling that shares in the venerable investment bank Bear Stearns woul
In its 190-year history, Jefferson County, Alabama, has endured a cholera epidemic, a pounding in the Civil War, gunslingers, labor riots and terrorism by the Ku Klux Klan. Now this namesake of Thomas Jefferson, anchored by Birmingham, is staring at
Madame Pelosi wants you and I to conserve our carbon footprint. REALLY!?!
As the housing market collapsed in late 2007, Moody's Investors Service, whose investment ratings were widely trusted, responded by purging analysts and executives who warned of trouble and promoting those who helped Wall Street plunge the country in
Mayor Larry Langford, who could be tossed out of office and go to prison if convicted of federal bribery charges, recently offered some advice to a new Birmingham City Council member. "The illusion of power is the most dangerous drug on the planet
t is a very strong possibility. There is a lot of mystery surrounding Goldman's high velocity trading. When Goldman's 3Q earnings were announced, I wrote:
I posted these videos to show the corruption however the speaker's assumptions of how to handle it is something I think we would all totally disagree with. You don't give more power to those who already helped make this disaster!
Warning: Mildly rough language contained herein. Don't gripe, you were warned in advance not to read this if you'll be offended! You have to be kidding me.....
Market analyst Paul Mylchreest, who wrote the 2006 report for Credit Agricole's Cheuvreux brokerage house concluding that the gold market was being manipulated surreptitiously by central banks and, the following year, a similar report for Redburn Pa
We use this opportunity to pore through a goldmine of just unsealed documentation to present some rare glimpses into the Federal Reserve's garbage laden balance sheet.
One of America's wealthiest men was among six hedge fund managers and corporate executives arrested Friday in a hedge fund insider trading case that authorities say generated more than $25 million in illegal profits and was a wake-up call for Wall St
- Hedge fund managers - a secretive, lightly regulated group portrayed by some as villains in last year’s financial meltdown - appear to have a new degree of clout on Capitol Hill in shaping legislation that will determine how they will be regulated.
No quid pro quo was involved, they insist, as do the lobbyists themselves.
Bowing to political pressure from community bankers, the House Financial Services Committee approved an exemption on Thursday for more than 98 percent of the nation’s banks from oversight by a new agency created to protect consumers from abusive or d
