Big bank plans $420 million lawsuit over soured Countrywide loans

Big bank plans $420 million lawsuit over soured Countrywide loansHSBC plans to file a $420 million lawsuit against Bank of America and Merrill Lynch over soured Countrywide mortgage loans. HSBC notified the state of New York of its intention to file the lawsuit this week, claiming that Merrill Lynch and Bank of America allowed Countrywide loans to be securitized despite knowing they were toxic, according to a HousingWire report.

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RBC, 15 other global banks face revived lawsuits over LIBOR-rigging allegations

Lawsuits revived against Royal Bank of Canada and 15 other banks in LIBOR-rigging caseA federal Appeals Court in New York City has reinstated lawsuits against 16 of the world’s largest banks, including the Royal Bank of Canada, alleging they colluded to manipulate a benchmark interest rate. The 2nd U.S. Circuit Court of Appeals in Manhattan on Monday restored the lawsuits, which had previously been dismissed by a lower-court judge.

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Asbestos, other toxic chemicals finally set to be regulated by EPA

Asbestos, other toxic chemicals finally set to be regulated by EPAThe Environmental Protection Agency will finally be able to regulate asbestos and other known toxic substances for the first time in decades. But environmentalists say the compromise bill doesn’t do enough and limits state regulators. With bipartisan support, the House of Representatives voted 403-12 to pass a bill to update the Toxic Substances Control Act of 1976 for the first time since it was enacted.

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Texas Judge Orders DOJ Attorneys to Take Ethics Classes

Texas Judge Orders DOJ Attorneys to Take Ethics ClassesSubmitted by Mike Krieger via Liberty Blitzkrieg blog, This is simply priceless. A federal judge in Texas on Thursday tore into Justice Department lawyers who argued the immigration case involving the Obama administration, ordering them to take ethics classes. In a blistering court order, U.S. District Court Just Andrew S.

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‘Democracy in the US is a fraud’

‘Democracy in the US is a fraud’: Left Forum debates next steps for Sanders movementA rigged democratic system, a “grotesque” military fighting unwinnable wars under the “drone commander in chief”, and the future of the movement behind presidential candidate Bernie Sanders were the focus of Day One at the Left Forum in New York City. This weekend’s theme “Rage, Rebellion, Revolution” brings thousands to John Jay College from Friday through Sunday.

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5 major banks rigged $9trn bond market

5 major banks rigged $9trn bond market – lawsuitTraders at major financial institutions including Bank of America and Deutsche Bank AG colluded to rig the prices of bonds from government-linked organizations that were bought and sold on a $9 trillion market, a new lawsuit claims. Five big banks – Bank of America, Credit Agricole SA, Credit Suisse Group AG, Deutsche Bank AG, and Nomura Holdings – were named as defendants in the proposed class-action lawsuit, filed Wednesday by the Boston Retirement System pension fund for city workers.

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Poor Wages Send A Third Of US Manufacturing Workers To Welfare Lines In Order To Pay For Food, Healthcare

Poor Wages Send A Third Of US Manufacturing Workers To Welfare Lines In Order To Pay For Food, Healthcare, Data ShowU.S. manufacturing jobs used to be a path to the middle class for Americans who couldn’t or didn’t dive into the comfort provided by higher education degrees. But now many skilled, working Americans need some form of public assistance because their wages don’t pay for basic living expenses.

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Federal judge allows former CIA detainees to sue over torture

Federal judge allows former CIA detainees to sue over tortureFor the first time, a federal judge is letting a civil lawsuit proceed against two CIA contract psychologists who designed and supervised brutal interrogation tactics that critics called torture. The ruling allows two former CIA detainees and the family of another who died in agency custody to try to win damages in federal court for the abuse they suffered at then-secret CIA prisons in the early 2000s.

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Results of Glyphosate Pee Test Are in “and It’s Not Good News”

Results of Glyphosate Pee Test Are in “and It’s Not Good News”Article reprinted with permission from EcoWatch Last month, Members of the European Parliament (MEPs) volunteered to take a urine test to see if glyphosate-the cancer-linked weedkiller-is in their system. Forty-eight MEPs from 13 different European Union countries participated in the test, and now the results are in.

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