foreclosures

Goldman Sachs Asks Supreme Court to Dismiss Mortgage Class-Action

While on September 6, the 2nd U.S. Circuit Court of Appeals in New York allowed a mortgage class-action lawsuit to go ahead with the lawsuit accusing Goldman of misleading investors about the securities risk, Goldman wants to take no risks and is urging the Supreme Court to throw out the lawsuit. It’s arguments are brilliant – allowing the lawsuit could cost Wall Street tens of billions of dollars, and therefore the U.S. Supreme Court must trash the interests of a class, from which money could have been taken by deceit by Wall Street, in order to protect the interests of Wall Street.

And of course, lawyers in pay of Goldman have also found technical questions of law: They argue that the 2nd Circuit allowing the NECA-IBEW Health & Welfare fund to move ahead with the class action on behalf of investors, though the NECA-IBEW did not own any of the controversial mortgages, conflicts with a precedent from the federal appeals court in Boston. In that case, which the federal court in Boston had held that a plaintiff could not pursue claims on behalf of a class that it could not bring by itself.

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Voter registration down among Hispanics, blacks

The number of black and Hispanic registered voters has fallen sharply since 2008, posing a serious challenge to the Obama campaign in an election that could turn on the participation of minority voters.

In the 2008 election, robust turnout among black and Latino voters is credited with putting Obama over the top in key swing states, including Virginia and New Mexico.

Voter rolls typically shrink in non-presidential election years and registrations among whites fell at roughly the same rate, but this is the first time in nearly four decades that the number of registered Hispanics has dropped significantly.

That figure fell 5 percent across the country, to about 11 million, according to the Census Bureau. But in some politically important swing states, the decline among Hispanics, who are considered critical in the 2012 presidential contest, is much higher: just over 28 percent in New Mexico, for example, and about 10 percent in Florida.

For blacks, whose registration numbers are down 7 percent nationwide, and Hispanics, the large decrease is attributed to the ailing economy, which forced many Americans to move in search of work or because of other financial upheaval.

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