Wednesday, October 24, 2012

Bank of America Sued By U.S. for Mortgage Fraud

The U.S. government has sued Bank of America for more than $1 billion. According to Manhattan U.S. Attorney Preet Bharara, Bank of America and Countrywide, which B of A acquired in 2008, developed a procedure to rapidly generate thousands of toxic loans that later defaulted to Fannie Mae and Freddie Mac.

The complaint alleges that during the financial crisis, the bank’s home loan program defrauded the government and encumbered taxpayers by generating thousands of fraudulent or defective loans.

Bank of America itself was being bailed out by U.S. taxpayers during some of the period that the alleged fraud took place. It accepted US$45 billion in funds from October 2008 to January 2009.

Sources and more information:

Sunday, August 19, 2012

Paul Ryan caught lying about request for millions in Obama's stimulus money

Publicly, Paul Ryan referred to the stimulus program as a “wasteful spending spree.” But federal records indicate that Paul Ryan signed letters in 2009, asking for grants for two of his state’s energy conservation companies. One such company, Wisconsin Energy Conservation, received $20.3 million as a result of Ryan’s request.

Read full article at:

Thursday, July 12, 2012

Global Warming Model Incorrect; Leading Scientist Detracts Statement That Humans Are To Blame

The United Nation’s Intergovernmental Panel on Climate Change (IPCC) is largely responsible for producing information concerning the grand effects of global warming. But is it information we can trust? Fritz Vahrenholt, a leader on green theory, has concluded much of the IPCC’s reports contain incorrect data. Much of the knowledge circulating from the IPCC headquarters is pulled from previously published articles, not facts on new research performed to test global warming theories.

With no true scientific reports to support the IPCC’s claims that humans are to blame for global warming, where does that leave the public? In no man’s land. 

There is officially no scientific data that proves carbon emissions produced by the public are causing harm to the Earth’s climate. Further, Vahrenholt claims that Global Warming models relating to the Earth’s past climate are deeply flawed.
With so much incorrect information remaining inconclusive about the past, it would be foolish to put stock in the IPCC’s model to forecast the future.

Complete article by Allison Fox at:

Monday, July 9, 2012

Pfizer sued by retailers for generic Lipitor delay

Walgreen Co, Kroger Co, Safeway Inc, SuperValu Inc and HEB Grocery Co filed an antitrust lawsuit against Pfizer Inc and India's Ranbaxy Laboratories Ltd on Thursday, accusing them of conspiring to delay sales of generic versions of Lipitor, the best-selling drug in history. Lipitor sales in 2011, totaled $9.6 billion, accounting for about one-seventh of Pfizer's total revenue.