Chicago News Cooperative: Looking for Savings, Quinn Has a Good Idea
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But Countrywide/Bank of America didn't just get in the way of investigations at the top. At least 17 other former employees allege that they were demoted or fired for raising the alarm about fraud they witnessed. For instance:
Mark Bonjean, a former operations unit manager in Arizona, complained to a divisional vice president, according to a lawsuit in state court in Maricopa County. Within two hours of sending the VP an email about what he believed were violations of the state?s organized crime and fraud statutes, the suit said, he was placed on administrative leave. The next day, according to the lawsuit, he was fired.
And:
Lupe Manegdeg, a loan specialist at a Countrywide office in Glendale, Calif., claimed that, in early 2007, she discovered that loan officers in her branch were defrauding borrowers in a variety of ways ? including forging their signatures on documents and lying to them about the type of loans they were getting.She reported this, she said, to her supervisors, to Countrywide human-resources officials and to the company?s fraud hotline. The company responded, her lawsuit in state court in Los Angeles said, by firing her.
Corporate corruption of the pervasive kind that helped bring on the mortgage crisis and victimized so many homeowners comes from the top. But here it succeeded by involving employees throughout the company?and by penalizing those who resisted. Neither was Countrywide alone in abusing its employees in order to sign more and more dubious loans, as Hudson's book The Monster details. Strong protections?whether through government oversight or unions?for workers who push back on troubling or outright illegal actions by employers don't just protect the workers, they protect us all.
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Scientists at the Buck Institute for Research on Aging and Georgia Institute of Technology demonstrated how the aging process for human adult stem cells can be reversed. This breakthrough will open many new avenues for innovative therapies that could impact a wide range of disease, including anything requiring the repair of damaged tissues.That would be one giant leap for mankind. Of course there are people intent on taking one giant step backward for womenkind. Like this simmering wingnut obsession which could cripple stem cell research and comes with other horrifying consequences.
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The Energy Department on Friday approved four more solar energy loan guarantees worth nearly $5 billion, hours before a controversial loan program was set to expire.
Source: http://www.msnbc.msn.com/id/44736382/ns/us_news-environment/
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