Feds File $1 Billion Suit Against Deutsche Bank Over Mortgage Fraud, Other Banks Now In Crosshairs

U.S. May Pursue More Lenders After Suing Deutsche on Faulty Mortgages

The U.S. Department of Justice may pursue claims against other lenders after suing Deutsche Bank AG for more than $1 billion, alleging the firm lied while arranging federal insurance on faulty mortgages.

The Housing and Urban Development Department is examining loans insured through the Federal Housing Administration and may refer additional cases to the Justice Department, HUD’s general counsel, Helen Kanovsky, said yesterday in an interview.

“We go where the evidence takes us, and if it takes us to the larger players on Wall Street, so be it,” Kanovsky said. U.S. Attorney Preet Bharara said it wouldn’t be a “fantastical stretch” for prosecutors to scrutinize other lenders.

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Bin Laden's Terror Files - What Happens Next? (LINKS)

• Robert Fisk: My deadliest moment with the world's most dangerous men
• Terror Files - What secrets will America find on Bin Laden's hard drive?
• How do US special forces know they have their man?
• The house of secrets: behind the high walls of Osama's compound
• A close encounter with the man who shook the world
• Bin Laden Double - One Never Knows
• Wikileaks: Al-Qaeda plotted chemical and nuclear attack on the West
• WikiLeaks: Guantanamo Bay terrorist secrets revealed
• Obama Pushed for ‘Fight Your Way Out’ Option in bin Laden Raid
• Tight security at Obama granny's Kenya home after threat
• Pakistan intelligence agency admits failures - BBC
• White House changes Osama bin Laden account
• US Military Defers to Inmates, Hides US Flag at Gitmo
• Bin Laden, the terror godfather next door: Local children playing in his garden, his own at a nearby school - the charade that let him evade capture for six years
• CIA Chief Breaks Silence: Pakistan Would Have Jeopardized bin Laden Raid, ‘Impressive’ Intel Captured

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Portugal Agrees To $116 Billion IMF Bailout, India Sees Inflation & Hikes Rates, Silver Takes Hit On Margin Boost, Geithner Presses China, No More Liars - Ron Paul 2012

• Silver futures fall 7.6% on margin boost; gold extends losses
• Geithner: U.S. to press China on bank reform - NOT A Joke
• "It's Time To Bring The Troops Home!" Rep. Lynn Woolsey - Clip
• US Businesses Have High Tax Rates but Pay Less - NYT
• Interest Rates in India Raised to Slow Inflation
• Portugal Agrees to a $116 Billion Bailout
• $1.2 Trillion - Number of the Week
• Presidential Motorcade Detailed

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Wikileaks: Threat To Create Nuclear Hellstorm In Europe If Osama Killed Or Captured

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Martin Weiss: U.S. Ranks 33rd Out Of 47 Nations For Credit Risk, Earns 'C' Rating (Video)

Get more detail at CNBC...

America's rating was ranked 33rd out of 47 nations, according to Weiss, which began tracking sovereign debt last year. France and Japan also got a "C" rating, while Only China and Thailand received an "A" rating.

Weiss Ratings based its score purely on statistics, and does not take into account qualitative factors such as political stability.

• Rejecting Wall Street, Grads Become Entrepreneurs Instead - NYT
• Portugal Agrees to Terms of EU, IMF Bailout Loan
• House Panel OKs New Way to Fund Home Mortgages
• A Look Inside the Foreclosure Pipeline - CNBC's Diana Olick
• Apple - The Real King of Cash
• How to Trade Cotton, Sugar and Lumber: Analyst

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Zuckerman Rips Obama For Failed Deficit Leadership: "The U.S. Is A Ponzi Scheme That Sooner Or Later Will Blow Up"

Video - May 3 (Bloomberg) - Mortimer Zuckerman

Watch the first 2 minutes.  Morty calls for cuts to defense in addition to means testing medicare.  Zuckerman is a Democrat who supported Obama, and this isn't the first attack.

• Zuck Thrashes Obama: "He's Running The Most Fiscally Irresponsible Government In U.S. History" (Op-Ed)
• Out Of Control Deficit Spending - Government Gone Wild: Morty Zuckerman Vs. Robert Reich (CNBC VIDEO)

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Bin Laden Meets His 72 Virgins

Editor's Note - NMA TV pulled this Bin Laden clip from Youtube this morning (they produced and released it only yesterday).  Apparently they had second thoughts.  We found a copy that Mediaite had converted to their player and here it is.  There are no other copies of this clip left out there.  Warning - Offensive for some viewers.

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Video: Mississippi River Levee Meets Army Demolition

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Roubini On China, Europe, Greece, Euro Instability

Video - May 2 (Bloomberg) -- Nouriel Roubini, the New York University economist who predicted the financial crisis, talks about China's management of its economy. Roubini also discusses al-Qaeda leader Osama bin Laden's death, the global economic recovery and the outlook for the euro. He speaks with Tom Keene at the Milken conference in Los Angeles.

• Treasury 10-Year Yields at Six-Week Low
• Senate 'Gang of Six' Hashes Out Alternative Deficit Plan - WSJ
• Bin Laden Aides Bought Big Orders of Pepsi, Coke, Grocer Says
• Fed Chairman Bernanke Attempts to Consolidate Even More Power
• Bin Laden: 3,519 days, 2 wars, $1.283 trillion, tens of thousands of lives
• U.S. to Take ‘Extraordinary’ Steps as It Nears Debt Ceiling

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Rand Paul With The Judge: Budget Conversation Must Be About Spending Less Not Taxing More

Video - Sen. Rand Paul with Judge Andrew Napolitano - May 2, 2011

• Osama Bin Laden's body 'identified by sister's brain'
• Bin Laden dead – but no body - An explosion of conspiracy theories
• Not everyone believes bin Laden really is dead
• WikiLeaks: Osama bin Laden 'protected' by Pakistani security
• Osama bin Laden raid yields trove of computer data
• Debt-Limit Deniers Don’t Buy ’Chicken Little’ Warnings
• Greece Suggests EU/IMF Bailout Extension
• Geithner gives Congress more time on debt limit

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Daily Show: Jon Stewart With William Cohan On Goldman

Daily Show Video - April 28, 2011 - William Cohan Extended Interview Pt. 1

William Cohan says Goldman Sachs uses its influence with government to get out of trouble, and its tentacles are still everywhere.

Part 2 is inside.

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Video: The Horrific Legacy Of Chernobyl

Watch at least the first 90 seconds.

Paul Fusco photographs the children born within the radiation zone.

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William Black: "The de facto policy right now is elite frauds go free if they're in banking because the whole sector is too fragile; That is significantly insane"

Video - Bill Black on banking fraud - April 24, 2011

Source - Tech Ticker

William Black blames policymakers.

It's a matter of "unofficial" policy, he claims. "The de facto policy right now is elite frauds go free if they're in banking because the whole sector is too fragile. That is significantly insane. It will produce the next crisis." Essentially he's saying officials think it's more important for the banking sector to make money than it is for them to follow the law.

In the accompanying interview with Aaron Task, he notes that Treasury or White House officials are fully aware of the fraud, citing FBI testimony as far back as 2004 about rampant fraud in the mortgage market. In fact, Black says the problems banks are now facing with foreclosure paperwork are simply a result of the foreclosure frauds that were never addressed. "Every time you fail to root out the frauds, the fraud simply migrates. It migrates from the lending process to the foreclosure and servicing process."

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Interview With Creator Of Famous NYC U.S. Debt Clock

Ever wonder who pays for and mangaes the debt clock in Manhattan.  Give that company some credit.  We doubt they received stimulus funds.  Solid clip.  Stiglitz comments at 2:30.

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