Business & Economy
Where are the "Thousands" of Mortgage Fraud Cases Brought by DOJ? PDF Print E-mail
News Releases - Business & Economy
Written by Grassley Press   
Monday, 19 March 2012 12:14

Friday, March 9, 2012

 

Grassley Asks Justice Department for Details on its “Thousands” of Cases Brought on Mortgage Fraud

WASHINGTON – Senator Chuck Grassley, Ranking Member of the Senate Committee on the Judiciary, today asked the Department of Justice for detailed information about the “thousands” of mortgage fraud cases the department has brought forward and about the claim that the department has “secured numerous convictions against CEOs, CFOs, board members, presidents and other executives of Wall Street firms and banks for financial crimes.”

Grassley’s letter to Attorney General Eric Holder follows a Senate Judiciary Committee hearing on Wednesday about lending foreclosure abuse in relation to the housing crisis.  In a follow-up article in the Blog of Legal Times, a spokesperson from the Justice Department stated, “The Department of Justice, through our U.S. Attorneys’ Offices and litigating divisions, has brought thousands of mortgage fraud cases over the past three years, and secured numerous convictions against CEOs, CFOs, board members, presidents and other executives of Wall Street firms and banks for financial crimes.”

At the Judiciary Committee hearing, Grassley noted that the Criminal Division in the Justice Department, headed by Lanny Breuer, failed to bring criminal charges against the former Countrywide CEO who was accused of lying about the risks of Countrywide’s loans.

Grassley said in his opening statement at the hearing that, “The department’s message is that crime does pay.  Light settlements and no prosecutions not only do not deter.  They invite crimes of this sort to occur against similar future victims. How are the department’s enormous resources being used?”

Here is a copy of the text of Grassley’s letter.  A signed copy can be found here.

 

March 9, 2012

The Honorable Eric H. Holder, Jr.

Attorney General of the United States

Department of Justice

950 Pennsylvania Avenue, NW

Washington, DC  20530

 

Dear Mr. Attorney General:

At a March 7, 2012 hearing of the Senate Judiciary Committee, I stated , “The Justice Department has brought no criminal cases against any of the major Wall Street banks or executives who are responsible for the financial crisis” (emphasis added).  In response, the Justice Department issued the following statement: “The Department of Justice, through our U.S. Attorneys’ Offices and litigating divisions, has brought thousands of mortgage fraud cases over the past three years, and secured numerous convictions against CEOs, CFOs, board members, presidents and other executives of Wall Street firms and banks for financial crimes.”

In light of the Department’s statement, please provide for each of the thousands of mortgage fraud cases, the caption of those cases, the crimes for which convictions were sought and obtained, the outcome of the case, including any penalties of imprisonment and/or fines, and please indicate which of these convictions were obtained against CEOs, CFOs, board members, presidents and other executives of Wall Street firms and banks that were responsible for the financial crisis.

Please provide this response by March 31, 2012.

Thank you.                          

Sincerely,

Charles E. Grassley

United States Senator

 
Braley Supports Bipartisan “JOBS Act” PDF Print E-mail
News Releases - Business & Economy
Written by Jeff Giertz   
Monday, 19 March 2012 11:16

Crosses party lines to support effort to help small businesses grow and expand

 

Washington, DC – Rep. Bruce Braley (IA-01) today voted in favor of a Republican-sponsored bill that would help small businesses create jobs.  The legislation passed the House and will now move to the Senate for consideration.

 

“Americans are desperate for politicians in Washington to work together,” Braley said.  “Reducing restrictions so small businesses can get the capital they need to grow and expand isn’t about politics, it’s about putting people back to work.

“Iowans can’t afford any more gridlock or inaction from Congress on creating jobs.  They don’t care about party labels, they care about results.”

 

The Jumpstart Our Business Startups (JOBS) Act would make it easier for small businesses to raise capital to grow and expand their businesses by making changes to federal business regulations.  For more information on the bill, visit: http://go.usa.gov/PB5

 

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Schilling Supports the JOBS Act PDF Print E-mail
News Releases - Business & Economy
Written by Andie Pivarunas   
Monday, 19 March 2012 11:12

Washington, DC – Congressman Bobby Schilling (IL-17) today joined 390 of his colleagues from both sides of the aisle in supporting H.R. 3606, the Jumpstart Our Business Startups (JOBS) Act.  The legislation also has won the support of President Barack Obama, the U.S. Chamber of Commerce, the Small Business and Entrepreneurship Council, the Independent Community Bankers of America, and successful entrepreneurs like AOL’s Steve Case and Staples' founder Tom Stemberg, among others.

“This bipartisan legislation is about empowering American businesses to start up, hire American workers, and jumpstart our economy,” Schilling said.  “It tackles head-on obstacles that are keeping our nation’s job creators, small businesses, and entrepreneurs from growing and hiring.  I was proud to cosponsor this pro-jobs package, and am pleased to join so many of my colleagues from both sides of the aisle in supporting it today.”

The common-sense legislative package includes a number of measures that reduce registration requirements between emerging small businesses and the SEC to boost the economy and create opportunities for entrepreneurs across the country, without the threat of higher taxes.  These bipartisan measures will increase access to capital, spur the formation of startups and small businesses, and enable more small businesses to go public and grow. 

“The talking heads on the TV and radio like to say that Washington just can’t come together and get things done, but I don’t buy that,”  Schilling said.  “I focus on what we can do to improve things for my constituents and make it easier for them to succeed, not on what we can’t.  My colleagues and I in the House have passed dozens of bills that would help the economy and decrease energy costs, and our work is far from over.”

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House Panel Considers Braley Bill to Strengthen Job Protections for Returning Veterans PDF Print E-mail
News Releases - Business & Economy
Written by Jeff Giertz   
Monday, 19 March 2012 11:11

Legislation would allow 12 weeks of job-protected leave for treatment of service-related injuries 

 

Washington, DC – The House Veterans’ Affairs Subcommittee on Economic Opportunity today considered a bill introduced by Rep. Bruce Braley (IA-01) last fall that would strengthen job protections for wounded veterans returning from service.  Braley is the highest ranking Democrat on the subcommittee.

 

The Disabled Veterans Employment Protection Act would provide military and National Guard veterans up to 12 weeks of unpaid leave in a calendar year to be treated for an injury incurred in or aggravated by military service without having to worry about losing their jobs.  The legislation would also give injured or disabled veterans the option of using sick or vacation leave they have accrued to receive pay while getting treatment.

 

“Federal law protects the jobs of servicemen and women while they’re serving our country,” Braley said.  “But there are no protections for injured veterans who need to seek treatment for their injuries once they return home.   With thousands of injured veterans returning from Iraq and Afghanistan, it’s time we strengthen protections and allow veterans the ability to seek out the care and treatment they need.”

 

Representatives from the Veterans of Foreign Wars, the American Legion, and the Department of Veterans Affairs all testified in support of Braley’s bill.  A vote on the bill is expected in the coming weeks.

 

For more information on Braley’s bill, visit http://go.usa.gov/PK0.

 

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Do You Support Raising Iowa's Gas Tax? PDF Print E-mail
News Releases - Business & Economy
Written by A J Spiker   
Monday, 19 March 2012 11:07

Fellow Iowans,

On March 7th, the Iowa Senate Ways and Means Subcommittee advanced a bill that would raise Iowa's Gas Tax by 10 cents per gallon.

Click here to take our survey and tell us whether or not you support raising Iowa's Gas Tax from 21 cents to 31 cents per gallon.

In liberty,

A.J. Spiker

Chairman, Republican Party of Iowa

 
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