Goldman Sachs, U.S. agency in mortgage settlement worth $1.2 billion

 

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• U.S. Fed buys $7.9 bln of mortgage bonds, sells $200 mln Reuters

(Reuters) – Goldman Sachs Group Inc has agreed to a settlement worth $1.2 billion to resolve a U.S. regulator’s claims the bank sold Fannie Mae and Freddie Mac faulty mortgage bonds, the regulator announced Friday.
Under the settlement with the Federal Housing Finance Agency, the conservator for the two government-controlled mortgage finance companies, Goldman Sachs said it agreed to pay $3.15 billion to repurchase mortgage-backed securities from Fannie and Freddie.
The FHFA, which valued the settlement at $1.2 billion, said the accord “effectively makes Fannie Mae and Freddie Mac whole on their investments in the securities at issue.”
The $1.2 billion reflects the amount that Goldman will pay, minus the estimated current value of the securities being bought back from Fannie and Freddie.
The deal averts a Sept. 29 trial in a pair of lawsuits against Goldman that the FHFA filed in 2011 as it sought to recover damages from various financial institutions behind some $200 billion in mortgage bonds bought by Fannie and Freddie that later went sour.
To date, the FHFA has resolved all but three of the 18 lawsuits it filed, recovering $17.3 billion through cases against banks including Bank of America Corp, Deutsche Bank AG and Morgan Stanley.
The FHFA’s primary case against Goldman Sachs accused the bank of misleading the two mortgage finance giants in the sale of over $11.1 billion in mortgage-backed securities sold to Fannie and Freddie from 2005 to 2007.
Goldman Sachs denied the allegations, and in the settlement did not admit wrongdoing. Under the settlement, Goldman Sachs will pay about $1 billion to Fannie Mae and $2.15 billion to Freddie Mac, the FHFA said.
Goldman Sachs in a statement said the costs of the deal were substantially covered by its litigation reserves as of the second quarter of this year.
“We are pleased to have resolved these matters,” Gregory Palm, Goldman’s general counsel, said in a statement.
The deal tops a $550 million settlement that Goldman Sachs reached with the U.S. Securities and Exchange Commission to resolve charges over how it marketed a subprime mortgage product in 2010.
The U.S. Department of Justice continues to investigate Goldman Sachs over its marketing of mortgage-backed securities. The Justice Department on Thursday announced a $16.65 billion settlement with Bank of America over mortgage securities.
The FHFA continues to litigate against three other banks: HSBC Holdings Plc, Nomura Holdings Inc and Royal Bank of Scotland Group Plc.
HSBC continues to face its own trial Sept. 29, while Nomura’s case would go to a jury Jan. 26.

The case is Federal Housing Finance Agency v. Goldman, Sachs & Co. et al, U.S. District Court, Southern District of New York, No. 11-06198.

Learning More on A Billion Entrepreneurs

A Billion Entrepreneurs has triggered a global crusade, in the aim of raising awareness to the people and allowing everyone to become part of the campaign all over the world. No matter if you have got any prior experience in the field of entrepreneurship or not, there is a lot to fully comprehend right from the start from this campaign. As you will come to realize, as soon as you have accessed the YouTube channel of the people working for the global crusade, there are many people who have already embraced the concept of such action.

In order for the campaign to be successful, a lot of motivational videos have been brought to light. As a consequence, a lot of people who were completely unaware of the idea of entrepreneurship came to understand why it is beneficial to be able and take actions, without ever needing to depend on others. The action of being free to do something on your own and not comply with the demands of others is truly challenging and this is what has been the cornerstone of A Billion Entrepreneurs.

On the YouTube videos, you will be able to come up with valuable pieces of information, as well as behind the scenes footage and additional details that have made the most out of entrepreneurship and the benefits that it can provide to professionals. There has been global attention drawn to the movie, including the quintessence of such actions and the actual profit that you can get out of this movement.
The global crusade has got an ultimate goal, which is no other than the accomplishment to get on late night TV. Moving in this very direction, the people behind the efforts of A Billion Entrepreneurs have been thorough and detailed towards uploading motivational videos, full of intriguing facts and solid pieces of information on the deeper meaning of entrepreneurship.

Once you get to realize that through entrepreneurship you can reach out to yourself and find the purpose that will fulfill your needs and meet your criteria in full, you will come to understand that this is what you have been lacking so far in life. In other words, without the proper action that has to do with your prosperity and growth through the optimal actions triggered by yourself, you can never feel accomplished over time. The long term goal is of course the achievement to establish one entrepreneur in every single home. After having completed such a task, everything will run more smoothly and people will feel a lot happier.

If you wish to learn more about the movement of A Billion Entrepreneurs and if you want to keep up to date with the global crusade, you can check out the official website and the YouTube channel that refers to such efforts. Even the slightest donation will be adequate to help out towards reaching such a goal. So, make sure to consider such an option. Have fun and try out searching for the deepest desire of yours professionally.

Many of us recognize the benefits of our children learning to play the piano

It is fairly common knowledge that children who receive musical instruction frequently see 30 to 40 percent increases in their math and spatial skills. In fact, according to National Center for Education Statistics, music students are awarded more academic honors than their non-musical counterparts. Unfortunately, tight budgets have caused many school districts to severely limit access to musical instruction. In some cases musical studies have been eliminated entirely. If you are like many people, you may find that the logistics of providing musical instruction for your children outside of the public school system is next to impossible because of the busy lifestyles that most of us have today. Fortunately there is a solution, the Piano Wizard Academy!


The Piano Wizard Academy is an at home study system that actually works! There is a ton of information on the official website,www.PianoWizardAcademy.com that is available for you to research. Basically, the Piano Wizard Academy is an app that works on your mobile device you that you have the ability to take it anywhere with you. This enables you to provide music instruction to your children at a time convenient for you. It has been shown that children that use this app to learn to play the piano, learn to play as much as five times faster than children that receive traditional instruction.


The key to the success of Piano Wizard Academy is simply that it makes it fun for children to learn to play the piano. They learn both to play music and to read music. Parents love it not only because their children do and are motivated to learn, but because they save thousands over the cost of traditional instruction. Visit their website today to learn more about the Piano Wizard Academy!

FBI releases photos of two men considered suspects in Boston Marathon bombings

 

By Jason Sickles, Yahoo!

Staff Writer

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By Jason Sickles, Yahoo! | The Lookout – 6 hrs ago

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Israel Akinsanya and 1 other read this

[Updated at 8 p.m. ET]

BOSTON — The FBI intensified its manhunt in the Boston Marathon bombing case on Thursday by releasing images of two men they deem to be suspects. Investigators asked that anyone with information about the men or who may have seen them in the vicinity of the race finish line on Monday to step forward with information as soon as possible.
At a late-afternoon news conference here, FBI Special Agent Richard Deslauriers released surveillance tape and displayed photos of two young men captured in the moments before the twin explosions that killed 3 and injured 170.
"Somebody out there knows these individuals as friends, neighbors, co-workers or family members," Deslauriers said. “Though it may be difficult, the nation is counting on those with information to come forward and provide it to us."
[PHOTOS: View a gallery of the images released by the FBI]
The release of the images represented a significant breakthrough in a massive manhunt that has consumed local, state and federal law enforcement since the detonation of two shrapnel-packed bombs that plunged the annual Patriot's Day race—the nation's most prestigious marathon—into terror and chaos.
The man Deslauriers called Suspect One is seen wearing a dark hat, while Suspect Two is wearing a white hat. Deslaurier said Suspect Two is believed to have set a backpack down in front of the Forum restaurant along the marathon route near Copley Square.
Deslauriers said the two men appeared to be walking together along Boylston Street in the vicinity of the explosions.
"We know the public will play a critical role in identifying and locating these individuals. Somebody out there knows these individuals," Deslauriers said.
Supect 1 (left) Suspect 2 (right) (FBI.gov) Click image to see more photos.
He described the men as likely armed and extremely dangerous, and said no one should try to take any action to apprehend them. He said those with information should contact law enforcement.
On Thursday morning, Homeland Security Secretary Janet Napolitano asked for the public's help in identifying possible suspects.
"I wouldn't characterize them as suspects under the technical term, but we need the public's help in locating these individuals," Napolitano said when asked to give an update on the marathon probe during a Committee on Homeland Security budget meeting on Capitol Hill.
"The investigation is proceeding apace," Napolitano added. "This is not an 'NCIS' episode. Sometimes you have to take the time to properly put the chain together to identify the perpetrators."

Suspect 2 (FBI.gov) Click image to see more photos.

Also on Thursday morning, the U.S. attorney's office for the District of Massachusetts sent out a tweet encouraging anyone with information to submit clues, video or photos to an FBI Web page dedicated to the investigation.
President Barack Obama and first lady Michelle Obama flew to Boston on Thursday to attend an interfaith memorial service and visit hospitalized victims. "Every one of us has been touched by this attack on your beloved city. Every one us stands with you," Obama told the crowd attending the church service at the Cathedral of the Holy Cross in Boston.
There, Obama honored the families of those killed in the blast—Martin Richard, 8, of Dorchester; Krystle Campbell, 29, of Medford; and Lingzi Lu, 23, a Boston University graduate student from China.
The improvised explosive devices were located about 100 yards apart in the bustling Copley Square area. Several blocks of Boston's downtown remain closed as authorities comb the area for evidence.
To contact the FBI with information, call 1-800-CALL-FBI or online at bostonmarathontips.fbi.gov.
Yahoo News' Beth Fouhy contributed reporting from New York.

The Asian Diet - Humble eating for a healthy heart.

It took the largest study of its kind, but the results are undeniable. If you want to live longer and healthier, eat like an Asian peasant. Researchers have known for some time that people living in countries like China, Japan, Thailand, India, Korea, and Indonesia have a lower risk of cancer, obesity, and heart disease.
They just never had the evidence to tell them why. Now they do.
In a Chinese diet study, called the *China-Cornell-Oxford Diet and Health Project*, researchers have been collecting information on eating habits of over 10,000 Chinese since 1983. They've found that poor, rural Asians eat a humble, traditional diet-full of soy foods and high-fiber grains and vegetables, with few animal products. This, they say, is the reason for their good health.
Cholesterol levels are low, so low in fact that their average high cholesterol is still about equal to the lowest range in the United States. And only an average of 15 percent of deaths in Asia are due to heart disease, compared with more than 40 percent in the United States.
The super heart-saving Asian diet has won the approval of many nutrition experts because it emphasize plant-based, rather than animal-based, foods. Following this type of eating pattern may be your path to sound health and a long life.
**The Asian food pyramid**
Here are the basic groups that make up the Asian food pyramid. There are many ways to include these foods in your everyday eating without having to give up your own traditions. On the other hand, if you're tired of the same old meat and potatoes routine, why not buy a Chinese cook book and learn stir-frying.
**Grains:** According to the Asian Pyramid, most of your diet should consist of unrefined rice, millet, corn, wheat and other grains.
**Vegetables:** Whether from the land or sea, vegetables are a big part of the Asian diet. Including Chinese mustard greens, bok choy, spinach, chestnuts, lotus roots, and bitter melons.
**Soy:** Whether they're made into milk, tofu, paste, noodles or sheets, soy beans are an important part of the Asian diet. Rich in fiber and phytoestrogens, soy beans are a proven ally against heart disease and cancer.
**Legumes:** When you cut out animal products, you may worry about getting enough protein. A great vegetarian substitute is the small but mighty protein-rich legume. Peas and beans are a huge source of fiber. They should be part of at least one meal a day. Besides soybeans, other legumes you can try for an authentic Asian taste are mung beans, chick peas, and lentils.
**Nuts and seeds:** Almonds, cashews, walnuts, pine nuts and chestnuts are all popular ingredients in Asian cooking. Many are crushed and mixed with water to form nut milk, which is then used in sauces, desserts, and dressings. Try to get about a handful of nuts and seeds every day.
**Fats and oils:** Small amounts of peanut, golden sesame, soy, and corn oils may be eaten daily.
**Seafood:** Although it's often more expensive than chicken or red meat, fish is worth the extra pennies. It's full of healthy omega-3 fatty acids and protein, but low in cholesterol. People living in places where eating fish is part of the culture have much lower cholesterol levels. To make fish go further in your budget, follow the Asian way and chunk it up in your favorite stir-fry or soup.
**Meat:** Compared with a Western diet, the traditional Chinese diet has much less protein. And what protein the Chinese do eat generally comes from plant sources, not animals. To help keep your arteries healthy, some experts recommend eating red meat only once a month and cutting back on poultry and eggs: no more than an average serving each week.
**Herbs:** No eating plan would be complete without the herbs and spices unique to that culture. Many not only add flavor and spice to the food, but some, like garlic, turmeric, and fenugreek, provide powerful heart protection too.
**Sweets:** If you want to follow the Asian diet, you must cut back on sugar and sweets. In Asia, fresh fruits, not sweets, are served for desert.

Please Help The Children

Hi, My name is Tracy Collins I 'm an internet entrepreneur and a internet marketer and i inspire to be a writer. I love working on my computer mostly every day and i always love helping the children.Because the children are the future.I know that you don't know me and you probably have never seen any of my blogs or websites on the internet , http://tlkool35.blogspot.com and http://tlkool9.blogspot.com . To who'm ever is reading this letter i want to ask you for a favor. I'm starting a program in the Dawson area to help keep the children off of the streets and from joining gangs and try to stop them from starting to use illegal drugs and alcohol.I really need your help i don't have all of the money to start the program up for the shelter home and for food and clothes and toys and things like that for the children.I want to ask you can you please donate $500 to help the children for shelter and food and clothes and toys.So that we can help to get them off of the streets and keep them from joining street gangs and doing other illegal things.If you would like to contribute to the cause Please send a $500 check or money order:Made payable to: Tracy Collins 1112 bacon st. ne Dawson,Ga 39842 or You can send your donation to my Paypal account address i.d. at tl.entertainment@yahoo.com .I will make sure that your donations goes to the children so that they can get the treatment that they desperately need .To my Entrepreneur friends and my Blogger friends out there i know that when the children needs our help i know that you will help them because the children are our future. And you and i want to make sure that our children are safe have a decent place to live and get a great education so that the great U.S.A. can continue to be the best country that it can be. .Has any of you out there ever thought about the things that you used to do when you were kids and what it was like when you were a kid.Because i have i remember that when i was a kid i used to be very very shy .And i didn't have many friends because of how i acted.I was very shy and quiet and i didn't hardly say much to the other kids.I was told by the doctor that i had anxiety attacks and panic disorder when i was a kid.I also had it in my teen years but now i'm better and now i want to help other kids with problems like i had when i was a kid to get better and get the care that they really need..The program that i want to start for the kids it will help get them off of the streets and keep them from joining gangs and doing illegal drugs. Because they will have a place to go and to play games and inter act with other kids in this area..I want to make sure that the kids stay in school and get a great education something that they are going to need to make it in this society.That is why i'm asking everyone to please help me with a donation of $500 to help save our chidren from gangs and from illegal drugs and alcohol.I'm also trying to get donations to help the children that has cleft palate disease so that they can get the treatment and surgery that they need to get better.I've started up a website entitlled ''  Kool Kids USA '' You can get a first look here at http://tlkool9.blogspot.com  .You can be a sponsor of the program and of the website ,and i will also put your ads about your program on my blogs. My contact email address is tlkool36@gmail.com .Remember if we can jus't help the children to stay in school and get a good education then they will be better off than if they didn't stay in school and get a good education .Because with a great education the kids can go far and far beyond their wildest dreams.They can become a Doctor, Surgeon,Lawyer,Scientist and maybe the President of the United States of America.