In more long-awaited fallout from the mortgage crisis, Federal prosecutors today sued the Bank of America and Countrywide Financial for a scheme to defraud the government via a program called "The Hustle."
Yes, they called it "The Hustle." Its purpose: allegedly to process home loans at high speed ... More >>
Foreclosures rates are rising--and will continue to rise--across the US, and for the past few weeks, The Voice has been visiting homes that are about to, or have been, sold at foreclosure auctions, in an effort to put a face on the crisis and allow them to tell their story.
A recent project by New ... More >>
Documents tying the CIA to the Qaddafi-led Libyan government were found in an abandoned office in Tripoli, the New York Times reports. The findings, which have not been verified for authenticity, allude to the practice of the American intelligence agency handing over terror suspects to the Li ... More >>
By Scott Greenberg
Speaking earlier this month about Andrew Cuomo's 1997-2000 tenure at HUD, gubernatorial rival Rick Lazio blasted him: "He was the head of an agency that was the worst-rated agency in the federal government, which is really saying something."
That's the exact opposite of what Laz ... More >>
The Tishman Speyer/Black Rock Realty partnership which bet $5.4 billion that they could convert Stuyvesant Town and Peter Cooper Village to market rate housing in a booming real estate market that no longer exists moved one step closer to a total loss on Friday when it missed a $16 million mo ... More >>
Foreclosed apartments in 19 South Bronx buildings that were going to be sold off in an online auction next week were saved today. The city announced that Fannie Mae canceled the auction.
Financed by Deutshe Bank, the Ocelot Capital Group -- a real estate firm that was started by wealthy Wall Stree ... More >>
As we said earlier, there's a Rent Guidelines Board meeting tonight where they're expected to approve our new rent hikes. The only humanizing touch in the whole Soviet-style deal is the protests that took place earlier this evening outside Cooper Union, where the vote is to be held. The 60 or so pr ... More >>
Trilateral Commission Alert! David Kellermann, Acting Chief Financial Officer and Senior Vice President of the troubled mortgage lender Freddie Mac, has been found dead in his home. His wife is said to have reported him a suicide. Previously the company's Principal Accounting Officer, the 41-year-ol ... More >>
The Street sorta liked the Federal Reserve's idea to invest over $1,000,000,000,000 of your money into your economy, which sounds like a wash but still makes us feel as if we've been gypped. $300 billion will go to buy T-bonds -- which news quickly drove demand up and yields down. The Fed will also ... More >>
The new, transparent White House sends out the text of speeches ahead of time, so we don't have to watch the President announce in Phoenix this afternoon that he'll ask Congress for up to $75 billion to bail out the housing market. First, they'll remove existing restrictions on Fannie Mae and Freddi ... More >>
It's time to stop pinning the "news" tag on Gary Ackerman's angry outburst at the SEC yesterday for not stopping Bernie Madoff.
Perhaps the most entertaining part of the House hearing, yes. But while the New York Democrat yelled at the SEC, whistleblower Harry Markopolos spoke more softly but cut d ... More >>
Bad news for high rollers: the President says he and his Treasury Secretary agree that companies receiving TARP funds from the Feds will be instructed to cap executive compensation at half a million dollars. That's half a million per exec, not half a million total.
Obama had previously expressed ... More >>