why-99-percent-of-law-firm-web-sites-dont-work-smAccording to the New York Times – Mr. Mozilo, the co-founder and former chief executive of Countrywide Financial, may soon face a civil lawsuit from the Justice Department.   This disclosure comes almost seven years after the subprime mortgage machine he created and oversaw began its rapid decline in August of 2007 leaving investors and homeowners staggering.   In 2008 Countrywide was bought by Bank of America which was the worst corporate acquisition ever in our lifetime.
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Note from Diane:  Does anyone join me in being really doubtful that Mr. Mozilo will ever pay anything for the crisis he helped create?
The post Will Countrywide CFO be Sued by Dept of Justice? appeared first on Diane L. Drain - Phoenix Bankruptcy & Foreclosure Attorney.

(posted 1 week 18 hours ago)

The SBA is committed to modernizing and simplifying its lending practices and, under the Obama administration, the agency has eliminated pages of regulations that were blocking the capital pipeline and hindering the growth of our economy.

BankThink
(posted 1 week 18 hours ago)

Facebook is seeking to dismiss a lawsuit challenging the compensation paid to its non-executive directors, which we previously discussed here. 
Although a board’s decision to grant compensation to its members generally falls outside the business judgment rule because board members are deemed personally interested in their compensation levels, if the board’s decision is approved by a majority of independent, disinterested and informed stockholders, then the business judgment rule presumption applies rather than the entire fairness standard.

(posted 1 week 20 hours ago)

While new government guidance is intended to make banks more willing to do business with legal marijuana dealers, in practice it creates a new set of headaches for bankers.

BankThink
(posted 1 week 20 hours ago)

Receiving Wide Coverage ...

Mixed Signals: Fed Chair Janet Yellen went to Wyoming and all she brought back to Washington, D.C., was a lousy T-shirt, with no better sign whatsoever of when short-term interest rates will rise. At the Kansas City Fed's yearly economic symposium in Jackson Hole, Wyo., Yellen gave a slew of mixed signals on whether she thinks the U.S. job market has improved enough yet to warrant a rise in rates, the Wall...

BankThink
(posted 1 week 21 hours ago)

One of the groups of plaintiffs trying to sue General Motors Co. over economic losses relating to the massive recall tied to faulty ignition switches is asking the bankruptcy judge to allow its lawsuit to proceed. Read the Daily Bankruptcy Review story in The Wall Street Journal.
(Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit our homepage, scroll to the bottom and click “try for free.”)
Less than two years removed from bankruptcy Dynegy Inc . will nearly double its power-generating capacity when it buys 21 plants for $6.25 billion from Duke Energy Corp.  and Energy Capital Partners, another milestone in the power company’s resurgence, WSJ reports.

WSJ.com: Bankruptcy Beat
(posted 1 week 21 hours ago)

If you’re interested in exploring real estate investments, you’ll be interested in the growing trend of geography-based investments that allow investors to own a piece of real estate they love, even if they can’t afford to actually live there.
Platforms like CityShares are cropping up quickly to facilitate this type of investment, but don’t confuse them with REITs. For one, the returns are different. How else are they different?
Read the entire article, by AIMkts Contributing Editor Alicia Purdy, here, or visit www.accreditedinvestormarkets.com for more information.
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(posted 1 week 22 hours ago)

Per the South Florida Business Journal:

Aug 22, 2014, 1:05pm EDT

The COMI
(posted 1 week 2 days ago)