Obama Nominates Wal-Mart’s Burwell as Budget Chief
WASHINGTON — President Barack Obama has tapped Wal-Mart’s Sylvia Mathews Burwell as his next budget chief, thrusting her into the center of Washington’s heated partisan budget battles and is filling vacancies at the Energy Department and Environmental Protection Agency, an official says. A White House official said Obama will announce Burwell’s nomination to lead the Office of Management and Budget during a White House ceremony Monday morning, a White House official said. If confirmed by the Senate, Burwell would bring more diversity to Obama’s second term Cabinet following criticism that many top jobs were going to white men. Her nomination also signals that the White House is trying to get back to normal business after the president and Congress failed to avert the $85 billion in automatic spending cuts that started taking effect Friday. While the president has warned of dire consequences for the economy as a result of the cuts, the White House does not want the standoff with ...
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Justice Department sues Bank of America over mortgage fraud
Wednesday, October 24, 2012 - 03:27 RICHARD A. BROOKS/AFP/Getty Images A woman walks past an office of Countrywide banking and home loans in Sun City, Ariz. This final note today. Some news, first, and then a question. The Justice Department sued Bank of America today. It wants a billion dollars in damages for what prosecutors call "brazen mortgage fraud." This case stems from Bank of America's purchase of Countrywide Financial back in 2008. Now prosecutors allege that the mortgage lender was cranking out bad home loans without proper checks to make sure they were legit, and then sold those mortgages to Fannie Mae and Freddie Mac. Plus, the Justice Department says Bank of America kept on doing it after it bought Countrywide. Which gets us to this question: Which was worse in the long history of mergers and acquisitions in this country -- Bank of America Countrywide or AOL Time Warner? Which merger was worse? Marketplace for Wednesday, October 24, 2012 by Kai Ryssdal Podcast Title: Justice ...
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Obama administration targets Latino street gang MS-13
Thursday, October 11, 2012 - 13:21 Jose CABEZAS/AFP/GettyImages Mara Salvatrucha gang members gather at the yard of the prison of Ciudad Barrios, 160 km east of San Salvador, El Salvador on June 19, 2012. The Treasury Department has a new weapon in its fight against the notorious street gang, Mara Salvatrucha, also known as MS-13. The gang originated in El Salvador and now includes more than 30,000 members across Central America. In the U.S., the gang operates in 40 states. It takes a diversified approach to crime, making money from kidnapping, child prostitution, drug smuggling and murder for hire. Now the feds are targeting those illicit profits. By designating MS-13 as a transnational criminal organization, U.S. law enforcement can seize its assets. “Every bank, every business in the United States, is forbidden from doing any transactions with MS-13,” says David Cohen, Under Secretary for Terrorism and Financial Intelligence at the Treasury Department. “So, it freezes their assets, ...
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Obama administration targets Latino street gang
Thursday, October 11, 2012 - 13:21 Jose CABEZAS/AFP/GettyImages Mara Salvatrucha gang members gather at the yard of the prison of Ciudad Barrios, 160 km east of San Salvador, El Salvador on June 19, 2012. The Treasury Department has a new weapon in its fight against the notorious street gang, Mara Salvatrucha, also known as MS-13. The gang originated in El Salvador and now includes more than 30,000 members across Central America. In the U.S., the gang operates in 40 states. It takes a diversified approach to crime, making money from kidnapping, child prostitution, drug smuggling and murder for hire. Now the feds are targeting those illicit profits. By designating MS-13 as a transnational criminal organization, U.S. law enforcement can seize its assets. “Every bank, every business in the United States, is forbidden from doing any transactions with MS-13,” says David Cohen, Under Secretary for Terrorism and Financial Intelligence at the Treasury Department. “So, it freezes their assets, ...
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