Liars Loans News Today

Stamp recipients. >> its basic. the obama administration went out of its way to encourage people to sign up for food stamps like liars loans during the housing bubble. they didnt look and signed them up and provided. and had the administration would have the work requirement on the 44 million out there now at least 20 million will drop off. david: bruce, if you can afford, even at half price, if you can afford to buy streaming videos every month, cant you afford to make it on your own without fo...

Of those so-called liars loans which helped drive up prices. but in this one area, there just may be more area for common ground. >> all right. thank you very much, lynn. thank you, sherry. youre watching the president arriving in phoenix, arizona. then traveling on to burbank, california, to be live on "the jay leno show." it may be the first time we hear from the president on camera regarding this latest terror threat and a litany of other issues likely to be addressed on lenos show. not just ...

Duties. >> im going to ask you the $30 trillion question. william bratton shows up and wants crime rates in the city. put the cops where the crime is. you roll in, william black, federal prosecutor. here to hot spot crime. heres how you do it. fraud task force. go after the liars loans. you know where the states are. go to nevada. go to south florida. go to southern california. if you do that, unlike crime, you disrupt a massive, very profitable business that is perpetuating that fraud. whereas ...

We studied it, god forbid. we spent resources. we looked for hot spots of crime. >> you madman. >> we looked for broken windows in civility that leads to crime. we looked for gangs that created crime. >> what would be the equivalent of the braten method for white collar crime? >> maybe mortgage banking when they started making liars loans. that wasnt subtle. >> there might be fraud? that could be an indication of misrepresented security? >> i have a ph.d. in criminology and thats what i focused ...

Heres what we know. mortgage fraud was systematic and systemic. there was a whole category of mortgages known as liars loans. federal regulator and the department of justice have done nothing. today we learned that the california attorney general settled predatory lending claims with countrywide for a paltry and insultingly low $6.5 million. cant make it up. the huffington post put it best. -- as a result, this is not sitting well with the public. distrust of the government continues to be high ...

The opening words, wall street brokers and active money managers use your relative lack of investment expertise to their benefit, not yours. >> ive met nurses, teachers, so many innocent hard working americans who have lost everything because either a broker or their -- even mutual fund has overcharged. >> reporter: he says it wasnt always this way. where did wall street go wrong? >> wall street went wrong -- i think theres a confluence of things, but in the late 70s illegal and unethical were t...

What you need to succeed long-term in the markets. the opening words, wall street brokers and active money managers use your relative lack of investment expertise to their benefit, not yours. >> ive met nurses, teachers, so many innocent hard working americans who have lost everything because either a broker or their -- even mutual fund has overcharged. >> reporter: he says it wasnt always this way. where did wall street go wrong? >> wall street went wrong -- i think theres a confluence of thing...

So-called liars loans where they were encouraged to misstate or overinflate their income and a lot of fraud went on on the part of people in the mortgage industry. these were the professionals telling the consumers dont worry about it, this is how business gets done. both sides -- >> to my mind, my favorite, the fiduciary standards. there was a proposal brokers had to act in the clients best interests when selling them something. seems like a no-brainer. same standards doctors and lawyers adhere...