News Links 02/04/2012
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Schneiderman Files Civil Fraud Lawsuit Against Three Major Banks for Use of MERS « naked capitalism
New York filed a lawsuit against various units of JP Morgan, Bank of America, Wells, MERSCORP and MERS over their use of MERS in foreclosures. This civil suit alleges that the use of MERS has “resulted in a wide range of deceptive and illegal practices,” most importantly, over 13,000 foreclosures in MERS name where MERS “often” lacked standing to foreclose.
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A sobering look at Facebook | Reuters
“We had some clients call and once we step them through the numbers, they sober up,” he said. “The valuation is 100 times earnings in a stock market that is trading at 12.”
“At the end of the day, if you have a small amount of money that you are in a position to lose a chunk of it and you want to speculate on Facebook, go ahead,” he added. “But don’t use money that you really need to save to do it. I would put it in Microsoft, which is dirt cheap right now.”
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Brussels discovers new €15bn black hole in Greece’s finances | Business | The Guardian
Pressure on Greece’s recession-stricken economy has intensified after international debt inspectors admitted an additional €15bn (£12.5bn) would be needed to fill a newly discovered black hole in the country’s finances.
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El secretario general del PSOE, José Luis Rodríguez Zapatero, ha justificado hoy ante el plenario del 38 Congreso del PSOE la política económica que tuvo que llevar a cabo y ha señalado que fue consecuencia de factores provenientes del exterior. Aunque también indicó: “Asumimos nuestras responsabilidades”.
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BBC News – Motorola makes Apple pull iPads and iPhones in Germany
Apple has pulled several iPad and iPhone models from its German online store after Motorola Mobility enforced a patent injunction against its rival.
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S.E.C. Is Avoiding Tough Sanctions for Large Banks – NYTimes.com
Even as the Securities and Exchange Commission has stepped up its investigations of Wall Street in the last decade, the agency has repeatedly allowed the biggest firms to avoid punishments specifically meant to apply to fraud cases.
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