The Community Reinvestment Act of 1977 was an early attempt to promote a social agenda in the banking industry. During downturns in the real estate market, the frequency of defaulting loans and the corresponding severity (losses incurred by the lender) increase simultaneously and substantially, so mortgages are inherently risky. Evidently, the current financial crisis has expanded significantly beyond its root cause, mainly due to the finance industry taking advantage of substantial short-term profit opportunities related to creating and underwriting subprime mortgages without an appreciation for their longer term default risk. In addition to the current financial crisis, there are additional repercussions affecting the US economy and the future welfare and standard of living of the Ame...
ALWAYS eloquent, President Obama was persuasive in his Thursday night appeal asking Congress to pass the $447 billion American Jobs Act, an attempt to rescue many of the 14 million desperate people out of work. But swift Republican resistance seems likely to doom the effort, so the jobless may stay in their trap.
The attorney for a Fayette County man accused of using his car to run over and kill his wife suggested to a jury that the woman intentionally jumped from the vehicle in an attempt to take her own life. Carmen Higinbotham, in an act of suicide, jumped out of the car," said Peter J. Daley, a Washington County attorney who is representing Ronald Lee Higinbotham.
Now that Republicans have regained a majority in the House of Representatives what will happen with health-care reform? Several observers believe that one of the first acts by the Republican House leadership will be an attempt to repeal the Affordable Care Act. Repeal would negate changes already enacted including, closing the doughnut hole in Medicare prescription drug coverage, allowing parents to keep young adults on their policy until age 26, and providing tax credits to small businesses to make their premiums more affordable.
Congress enacted the Americans with Disabilities Act (ADA) of 1990 in an attempt to provide comprehensive protection against discrimination for individuals with real or perceived disabilities. Although most circuits have not directly addressed this issue, the First Circuit and the Ninth Circuit have come to different conclusions, creating the "interacting with others divide." These two splits in authority impact a significant number of discrimination claims and have created considerable confusion in the employment arena. The Supreme Court should quickly act to resolve these disputes and should do so by looking to the plain language of the ADA, congressional intent, Supreme Court precedent, and explicit guidance from the Equal Employment Opportunity Commission. Such holdings represent th...
An apparent carjacking attempt described as a random act of violence has taken the life of a 45-year-old Albion woman and led to the capture of an illegal immigrant charged with her murder, Orleans County sheriff's officials said Monday. Kathleen I. Byham was walking toward her car in the Walmart Supercenter parking lot in the Town of Albion shortly after 7 p.m. Sunday when she was accosted and stabbed multiple times, Sheriff Scott D. Hess reported. She was taken to Medina Memorial Hospital, where she was pronounced dead at 7:40 p.m.
Here we are, the despised of the world, mired in an endless unwinnable war, our economy sinking rapidly into a depression, our environment in tatters, our civil rights shredded, most of the government agencies we rely on for protection corrupted beyond belief by White House-generated partisanship and bigotry, and the rich, with presidential sanction, robbing us blind. To get them, he initiates what burgeons into a crisscrossing chain of blackmail, bribery, threats, and trade-offs as it winds around poultry producers, Chinese adoption mills, Native American casinos, and secret CIA prisons in Bulgaria, occasionally colliding with some halfway honorable person's attempt to act on principle-an effort, in this context, about as useful as trying to read The Federalist Papers aloud during a p...
On Apr 7, 2009, Governor David Paterson signed the New York State Budget Act for fiscal year 2009/2010. The act appears to be an attempt to close a large projected multiyear gap by raising taxes and fees. High-income taxpayers will bear the brunt of the personal income tax increases. The 2009/2010 Budget Act has several provisions that will increase taxes for wealthy New York taxpayers. The 2009/2010 Budget Act once again increases the amount of the mandatory first installment required for certain corporations. Previously, all corporations whose current franchise tax liability exceeded $1,000 were required to include with their franchise tax return a mandatory first installment of the next year's tax equal to 25% of the tax liability shown on the current year's return. Effective Jun 1, ...
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