The joke is LIBOR, attorneys taking on cases, BofA screws minoritiesin Daily Scrounge
Imagine someone stealing $100-200/month from your bank account without you knowing and laughing about it. That’s the kind of anger this news should bring up.
But it has long been a hilarious joke to traders, as some new instant message transcripts dug up by Bloomberg show. The transcripts, which are evidence in a wrongful-termination suit by a former Royal Bank of Scotland trader, show RBS traders breezily chatting back and forth about how much fun they're having jerking around this important interest rate.
New York has announced the nation’s first pro bono mandate in the nation, requiring attorneys take on cases as “service work”. Reuters reports:
The rule applies to anyone admitted to the state bar on or after Jan. 1, 2015, meaning students currently in their third year of law school will be exempt.
Several law school officials praised the panel for its expansive definition of pro bono work, but some said the requirement is still likely to impose new costs. Cornell Law School's semester-long clinical programs typically have a faculty-to-student ratio of 8:1, according to Schwab of Cornell, so an influx of dozens of students could force the school to hire additional staff.
Depending on how things pan out this would be a good model for other law schools to follow.
Surprisingly (and that’s sarcasm) Bank of America has been accused of letting minority neighborhoods fall apart after foreclosure and taking better care of maintaining white neighborhoods.
The group reviewed 373 properties owned, managed or serviced by Bank of America in eight U.S. cities as part of its ongoing examination of how U.S. lenders maintain bank-owned properties. Investigators evaluated properties for problems such as broken windows, overgrown lawns, trash accumulation and a lack of "for sale" signs.
"We have found significant racial disparities," Shanna Smith, chief executive officer of the National Fair Housing Alliance in a conference call with reporters.
HuffPost reports that Chris “Fat Bastard” Christie used a whopping $4 million of the full $300 million awarded to the state to help a measly 498 homeowners, telling another 2,000 needy families to pound sand.
New Jersey currently suffers the second-highest foreclosure rate in the nation, according to the Mortgage Bankers Association. However, Hoffer reports that more than a year after the Homekeeper Program was launched, the state has doled out only $4 million, of $300 million available, to 498 families -- while nearly 2,000 applicants have been denied.