More on the Lawsuit Against BofA Over Countrywide’s “Hustle” Program

By: Thursday October 25, 2012 9:30 am

I’ve taken a closer look at the US Attorney from the Southern District of New York’s $1 billion lawsuit against Bank of America – particularly their subsidiary Countrywide – for “the hustle,” the program of selling mortgages with practically no underwriting and passing them on to Fannie Mae and Freddie Mac. And there’s something interesting right on the first page. The lawsuit isn’t called “The US v. Countrywide Financial Corp.,” but “The US, ex rel. Edward O’Donnell v. Countrywide Financial Corp.”

Who’s Edward O’Donnell?


Criminal Indictments in Credit Suisse Case Investigated Four Years Ago… By the Bank

By: Wednesday February 1, 2012 9:30 am

Four years ago, the bank Credit Suisse Group announced investigations of traders for misleading investors on the value of mortgage bonds. After four years, the US Attorney just got around to announcing indictments of the same people Credit Suisse handpicked as responsible. The announcement occurs just as the Administration wants to prove their bona fides on financial fraud, with their shiny new task force and everything.

Dwight Holton, US Attorney: Oregon Pot Dispensaries “Will Not Be Tolerated”

By: Saturday June 4, 2011 12:00 pm

Just as US Attorney General Eric Holder announces that he will shortly “clarify Department policy” on marijuana dispensaries in states where laws allow them (Rhode Island in particular), United States Attorney Dwight Holton rounded up all but two of the District Attorneys in Oregon to sign a letter about the Feds’ zero tolerance policy.

The Mystery of Tom Miller’s Shifting Comments on Criminal Sanctions for Foreclosure Fraud

By: Thursday January 6, 2011 4:00 pm

In December, when Iowa Attorney General Tom Miller said unequivocally to a group of foreclosure activists, “We will put people in jail,” the working assumption was that he was referring to the 50 state AG investigation of foreclosure fraud in the mortgage servicing industry. However, as it turned out, he walked that back almost immediately. The 50 state investigation, his office claimed, was inherently civil in nature. The statement about putting people in jail referred to a separate state-level investigation in conjunction with a US Attorney in Iowa.

The Nomination Gap In The Justice System

By: Monday August 9, 2010 6:30 pm

Thirty percent of US Attorney spots are either still under Bush appointees or under “acting status” and well over 100 Federal judicial seats are empty with far less that half even having a pending nominee. Republicans have put the appointment of conservative judges at the top of their agenda; Democrats and Obama need to get with the program.

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