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Saturday, 31-Aug-2013 19:21 Email | Share | | Bookmark
New At The Top: Mark Serway’s Road To A Job As Chief Financial O

I was always dealing with data and numbers. But eventually, I began wondering what all the data was being used for. I realized I didnt want to just be a numbers guy. I loved systems, but I was also a people person. So I moved to the finance side.

Structured Finance Industry Group Challenges Use of Eminent Domain to Seize Mortgage Loans

Not only would it do irreparable damage to the private mortgage market, undermining Congressional efforts to encourage private capital in the market, but it would also actually injure the local residents these efforts are supposed to be helping." The SFIG brief argues that efforts by Richmond and MRP to seize loans held in PLS Trusts is unconstitutional and could do permanent damage to the U.S. home mortgage system. The brief points to significant risk on three levels: -- The market for securities issued by PLS Trusts will be fundamentally shaken if the structure can be pulled apart by municipalities seizing loans, especially by cherry-picking individual performing loans. -- Each PLS Trust which holds to-be-seized loans will be damaged by an amount that exceeds the face value of the loan, because the structure, as a fixed, geographically diverse pool, will be undermined. The market value of the interests in the PLS Trust will likely decline by an amount which far exceeds the face amount of the loans seized.

California GOP violated campaign finance rules, watchdog says

Ho / Los Angeles Times / June 16, 2011) By Patrick McGreevy August 30, 2013, 8:16 a.m. SACRAMENTO -- The California Republican Party violated state campaign finance rules by failing to properly disclose its contributions last year to a campaign against newly drawn state Senate districts, the states ethics agency has concluded. In all, the state GOP provided $1.9 million in contributions, in-kind services and loans to the group Fairness and Accountability in Redistricting (FAIR), which qualified a ballot measure to overturn the new state Senate redistricting maps. After the Supreme Court found the maps were properly drawn, FAIR dropped its opposition to the redistricting plan.

Saturday, 31-Aug-2013 12:57 Email | Share | | Bookmark
Attorney De Sapio To Demand Answers About Hunterdon Finance Depa

EDT Structured Finance Industry Group Challenges Use of Eminent Domain to Seize Mortgage Loans Leading Association Representing the Structured Finance and Securitization Markets Files Brief Supporting Plaintiffs in Case Against City of Richmond, California WASHINGTON, Aug. 30, 2013 /PRNewswire via COMTEX/ -- The Structured Finance Industry Group, Inc. ("SFIG"), a member-based trade industry advocacy group focused on improving and strengthening the broader structured finance and securitization market, today announced that it has filed an amicus curiae brief in support of Wells Fargo National Association's motion for a preliminary injunction against the City of Richmond, California and Mortgage Resolution Partners LLC ("MRP"). The case, which attempts to halt the city's proposed use of eminent domain to seize mortgage loans from private label securitization trusts ("PLS Trusts"), is currently proceeding in the United States District Court, Northern District of California, San Francisco Division. "While SFIG recognizes the challenges currently confronting municipalities and borrowers, the use of eminent domain to seize mortgage loans is an illegitimate tactic that undermines the integrity of the entire home mortgage system," said Richard Johns, Executive Director of SFIG.

The county earlier said it planned to hire a different firm for the probe. The firm has already been paid at least $24,000 for services rendered through July 31, and more bills will be coming. This will not be cheap, unfortunately, Walton declared. He promised that the accountants report will be released to the public.

Supreme Court's campaign finance case gets new firepower

McConnell is the nation's leading opponent of campaign finance restrictions, who lost his effort to defeat the McCain-Feingold law's limits on corporate and union donations a decade ago but won the Citizens United case in 2010 that freed corporations to spend unlimited amounts independently on elections. By allowing McConnell to take some of the precious 30 minutes his side will have to make its case, the court on Friday further assured that the case will take on the aura of those two previous cases -- pitting Republican-aligned backers of unlimited spending against Democratic-aligned groups that want to reduce the influence of money in elections. The case is being brought by Alabama millionaire Shaun McCutcheon, a Republican businessman who objects to the overall limits federal regulations place on campaign donations. Donors can give a maximum of $123,200 every two years to federal candidates, political parties and political action committees. McConnell will be represented at the court by Bobby Burchfield, a trial partner at McDermott Will & Emery.

Saturday, 31-Aug-2013 06:22 Email | Share | | Bookmark
The Windows 8 Finance App Gets New Improvements

India finance minister asks banks to ensure credit flow to industry

Even though no details on this new build has been provided at the time of writing this article, this particular version most likely comes to address some of the bugs found by Microsoft engineers in older releases. As a result, expect the Finance app to load faster on both Windows 8 and Windows RT , while also offering a much more stable overall experience on either platform. Designed for Windows, the Finance app puts control at your fingertips. Swipe through colorful charts for a quick read on the day's events. Rich graphics help you find the latest mortgage, auto, and credit card rates.

Finance Ministry sends letters to indirect tax defaulters

Ackermann sold off industrial holdings and slashed jobs, and Deutsche now makes less than 30 per cent of its revenue there. However, his arrival at Zurich failed to impress investors and there was considerable change in the top ranks. Former general insurance head Mario Greco left a year ago to become head of Italian insurer Generali. Two weeks ago the head of its life insurance arm, Kevin Hogan, left to become AIG's head of consumer insurance. On Aug.

Zurich Insurance chairman steps down following finance director's apparent suicide

The number of letters issued to the entities were not immediately known. It is for the first time that such letters have been issued to indirect tax defaulters , a senior Finance Ministry official said, adding that the Income Tax department has been issuing such letters to direct tax dodgers. The Finance Ministry has decided to go after about 12 lakh service tax assesses who had stopped filing returns. The Ministry officials are also focusing on top 100 excise duty assessees in the country to ensure that there is no evasion towards the indirect tax collection kitty.

Credit: Reuters/Adnan Abidi NEW DELHI | Thu Aug 29, 2013 8:46am EDT NEW DELHI (Reuters) - Indian Finance Minister P. Chidambaram on Thursday asked state-run banks to ensure flow of credit to every sector of industry, indicating the need for funding projects amid an economic slowdown. The banks have been asked to assist industrial borrowers who were facing difficulties and be sympathetic towards genuine defaulters, Chidambaram told a parliamentary panel attached to the finance ministry. Economic growth virtually halved in two years to 5 percent in the fiscal year that ended in March -- the lowest level in a decade -- and most economists surveyed by Reuters in the past week expect 2013/14 to be worse. (Reporting by Manoj Kumar; Editing by Sunil Nair) Tweet this

Thursday, 29-Aug-2013 13:04 Email | Share | | Bookmark
Finance ministry in process of completing draft for 2014 Budget

KUCHING: The Finance Ministry is now in the process of completing the draft for 2014 Budget after receiving some 100 memorandums for consideration from various parties throughout 2014 Budget Consultation Council sessions since June this year. Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said the consultation sessions were held in the peninsula, Sarawak and Sabah, and after the third session in Kota Kinabalu on Aug 22, the process of completing the draft for 2014 Budget was now in the last phase. "The draft is expected to be completed in the middle of September for scrutiny and finalised before being tabled by Prime Minister Datuk Seri Najib Tun Razak next October. "Out of the 15 focus groups involved in 2014 Budget, there are a few groups that are not finished.

The Best Personal Finance Blogs That You Should Be Reading

Caron | Wed, Aug 28, 2013 8:50 AM EDT Get Rich Slowly With many authors giving common sense advice on personal finances, you could easily lose a few hours reading through the archives. Thats how interesting the blog Get Rich Slowly is. Its definitely worth checking out, bookmarking and checking in on regularly. The Manilla Folder The Manilla Folder offers a wealth of advice on all sorts of personal finance topics, from saving and budgeting, to credit and debt, to taxes and investing, and more.

Thursday, 29-Aug-2013 06:55 Email | Share | | Bookmark
German finance minister: 'I don't see' any further eurozone bail

The Finance Ministry has decided to go after about 12 lakh service tax assesses who had stopped filing returns. The Ministry officials are also focusing on top 100 excise duty assesses in the country to ensure that there is no evasion towards the indirect tax collection kitty. There are 1.2 lakh excise duty assesses across the country. Whereas, there are 17 lakh registered assesses under the service tax. The aim behind sending such letters is to remove bureaucratic hassles and develop faith in people about tax authorities, the officials said.

"A stronger Europe means that everyone has to do its duty and not to ask for more money by others -- that's the wrong way to get a strong Europe, that's the wrong incentive." German FM: Greece needs until 2022 German FM: Eurozone in a better place His comments come ahead of the September 22 election, as Merkel faces a German electorate weary of Europe's largest economy helping to bail out troubled eurozone nations, whose debt woes have threatened the stability of the currency. Greek unemployment hits record 27.6% Greece, along with three other eurozone countries -- Portugal, Ireland and Cyprus -- remain dependent on rescue loans from the EU and International Monetary Fund (IMF). The 17-nation eurozone has emerged from its longest ever recession, growing 0.3% in the second quarter after 18 months of contraction. Unemployment rates remain high, but worries that the debt crisis could spread to larger economies such as Spain and Italy -- which both saw borrowing costs climb dangerously high last year -- have abated. "You can see if you look at the rates for sovereign debts they are stable.

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