In the largest settlement to come from the 2008 economic crash, Bank of America has agreed to fork over $17 billion for its role in the sale of mortgage-backed securities before the 2008 financial crisis, officials told AP. The settlement was negotiated through a joint federal and state working group established by President Barack Obama two years ago and follows $13 billion and $7 billion settlements reached by JPMorgan and Chase and Co and Citigroup.
In his new book, Rep. Paul Ryan (R-Wis.) recounts shaking his head in frustration last fall as fellow Republicans sought to use a government shutdown as leverage to gut Obamacare. "It was a suicide mission," Ryan writes in The Way Forward. "This can't be the full measure of our party and our movement. If it is, we're dead and the country is lost." But during the October 2013 standoff, Ryan didn't seem like a lawmaker nervous about damaging the party or movement. Instead, he was often obstructive. read more
I grew up in a rich, Republican household, but after Katrina and Iraq, I realized my priorities were out of order
I used to be a serious Republican, moderate and business-oriented, who planned for a public-service career in Republican politics. But I am a Republican no longer. read more
Kareem Abdul-Jabbar, Time: This fist-shaking of everyone's racial agenda distracts America from the larger issue that the targets of police overreaction are based less on skin color and more on an even worse Ebola-level affliction: being poor. Of course, to many in America, being a person of color is synonymous with being poor, and being poor is synonymous with being a criminal. Ironically, this misperception is true even among the poor. And that's how the status quo wants it. ... Rather than uniting to face the real foe -- do-nothing politicians, legislators, and others in power -- we fall into the trap of turning against each other, expending our energy battling our allies instead of our enemies. read more