Laughlin Bank of America squeezed by `A Number of Teachers as mortgage costsMonte

Bank of America may face “material fines” from government probes into possible irregularities in foreclosure processes, the bank said late Feb. 25 in its annual report. Photographer: Ramin Talaie/Bloomberg

Bank of America Corp. 's Terry Laughlin, director of a new management unit foreclosures and souring loans, is facing increasing pressure from bond buyers and regulators seeking revenge for the role of the company's collapse housing.

The bank may face "material penalties" of government probes into possible irregularities in the foreclosure process, Charlotte, North Carolina-based Bank of America said late Feb. 25 in its annual report. The firm also said that a group of bondholders as Pacific Investment Management Co. has almost doubled the number of mortgage deals in which the bank is difficult. legal costs can be up to 1.5 billion U.S. dollars higher than what the bank had set aside, according to the presentation.

"Certainly not in an enviable position," said Michael Nix, who helps manage about 950 million dollars in Greenwood, South Carolina-based Greenwood Capital Inc., which sold its Bank of America last month. "There are a number of teachers to serve here. It will take years to resolve, and any investment fund, pension plan, or insurer with the exhibition" is considering the possibility of claims against the bank.

Laughlin was promoted this month by CEO Brian T. Moynihan to manage the costs of conflict resolution generated from the bank's 2008 purchase of Countrywide Financial Corp. After leaving aside about $ 3 billion last year end to meet the demands of the United States owned mortgage buyers Fannie Mae and Freddie Mac, the bank said that other applications could cost another U.S. $ 7000 million to $ 10 billion.

Moynihan's Pick

Laughlin, left his previous job as CEO of Pasadena-based OneWest Bank last year to join Moynihan, a former FleetBoston Financial Corp. colleague. Before being appointed head of the unit Legacy of the asset servicing business on February 4, helped the company negotiate with Fannie Mae and Freddie Mac

Cleaning job assignment to Laughlin, keeping Barbara Desoer in charge of building the business of housing loans, offers "greater attention to resolving the problems inherited from mortgages," Moynihan said in a statement of 04 February. Moynihan has reassigned sales staff to modify mortgages, newspaper revenue.

Bond buyers, including two state-owned companies have demanded that Bank of America purchase of the loans which the investors say they were based on erroneous data. The company which is 10.7 billion U.S. dollars in unresolved claims until the end of 2010 as the requirements of bond insurers and other investors rose.

"I'd be quite surprised if most investors are not out of wood" to search for the repurchase of loans, said Thomas Lawler, a former economist at Fannie Mae, which is now a housing counselor based in Virginia. "The performance potential of an individual investor aggregation and represent them looks like it could be very significant."

Stock Decline

Dan Frahm, a bank spokesman, did not immediately comment yesterday. Laughlin said the company was unavailable to be interviewed.

The bank, led by Moynihan since January 2010, reported a net loss of 2.2 billion U.S. dollars last year driven by housing-related expenses. Bank of America shares have declined 15 percent in the last 12 months of operations in New York through Feb. 25.

Borrowers' attorneys said in court documents that companies like Bank of America also mishandled the lending service, using defective documents in hundreds of thousands of foreclosures. U.S. regulators may try to extract 20 billion in penalties for most managers, two people briefed on the possible resolution, said last week. Bank of America foreclosures temporarily suspended U.S. last year to review their practices, and then resumed the process in most states after the implementation of "improved control", as presented.

Fannie, Freddie rates

Bank of America said last week that foreclosures delay may require the company to pay $ 230 million in "compensatory fees" to Fannie Mae and Freddie Mac bank agreements with buyers of mortgages offer reduced time to resolve the final credits, according to the annual filing with the Securities and Exchange Commission.

The bank also said that federal regulators issued a "citation number" for his creation of mortgage-backed securities.

When banks sell mortgages to investors or merge them into securities, which are characterized by "representations and warranties" in ensuring the accuracy of the data backing the loans. Examples include the income of borrowers and the appraised value of the house. If the information proves otherwise, the bank may be forced to buy back the loan or reimburse investors for lost value.

The company is in talks with a group of bondholders, including Pimco, BlackRock Inc. and Federal Reserve Bank of New York, people with knowledge of the case, said last year. The group, which in October of pressure from the company to repurchase loans in 115 deals amounting to some $ 46 billion, are now questioning securitizations 225, Bank of America, said last week.

'Number of Questions "

The investor group, said in an Oct. 18 letter that the lender is not in his role as manager of loan required notice flaws in the underlying mortgages. Kathy Patrick, a lawyer for the investors, did not immediately return messages.

Bank of America has a "number of questions about the validity of the statements" in the letter, including whether investors were qualified to file claims, the lender said in the filing.

Demands of other investors are accumulating. Allstate Corp., the largest publicly traded U.S. home and auto insurer in December sued for securities backed by mortgages.bond insurers such as MBIA Inc. and Ambac Financial Group Inc. have said Countrywide fraudulently induced by the carriers to ensure full value of mortgages defective.

Bank of America set aside $ 2.6 billion in litigation expenses last year, compared with $ 1 billion in 2009, the company said last week. The lender estimates that losses of $ 145 million to $ 1.5 billion beyond the amounts already set aside for legal expenses. The figures include cases where the company has "adequate information" to estimate, the bank said.

Wells Fargo & Co., the largest U.S. mortgage lender, said last week that can not be $ 1.2 billion in losses beyond litigation reserves already established by the San Francisco company.

"Dancing With The Stars Cast Revealed '2011
Kirstie Alley, Romeo, Kendra Wilkinson, Sugar Ray Leonard and more eclecticcelebrities to compete on season 12th

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Photos:'Dancing With The Stars' Season 12 Cast 

It seems like only yesterday that we were waiting for the big "Dancing With the Stars" casting announcement for the popular celebrity dance competition of the 11th Season, where boldface names like Bristol Palin, Mike "The Situation" Sorrentino and eventual champion Jennifer Grey was even bolder during their time at the show.

Now, just six months later, the famous dance floor was wiped clean to make room for a whole new generation of would-be dance champs. Here's a look at the 12 new candidate is eclectic, signed on for season 12 of "Dancing With the Stars":
Chris Jericho Jericho, born Christopher Irvine is very well known in the world of professional wrestling fans. The 40-year-old was the first undisputed champion of the WWE in December 2001 (he plays Stone Cold Steve Austin and The Rock), but put his career on hold recently to focus more on his other passion project, performing as a singer of the heavy -metal band Fozzy.
Romeo Although it was originally signed up to its order on the second season strut Romeo in the last minute by his equally famous Poppa, Master P (whose train on "DWTS" has been touted by many critics and supporters as one of the worst in the show version history,Paso Doble holds the record for lowest score ever). With the bar a little lower than the average, hopes the 21-year-old rapper, who once played college basketball for USC, it would more than to make his father.
Kendra Wilkinson The very un-shy, well-established reality-TV star Wilkinson is no stranger to the implementation or Baring all in public. Wilkinson, which has its start as a Playboy model, and in television as part of E! 'S "The Girls Next Door," something before starting her party-girl ways to settle with NFL player Hank Baskett, their domestic bliss to the bold theme of her current show "Kendra. Bunny Next Door"

Kirstie Alley Before she was the subject of her own reality show, "Kirstie Alley's Big Life", commencing on A & E and now Lifetime and a Jenny Craig spokeswoman was Alley to several generations of television viewers and moviegoers memorable for it is known in TV-shows Cheers "and" Veronica's Closet "and films such as" Look Who's Talking ".The very celebrity is a long time "DWTS" fan whose entertaining and varied Tweets were often presented in our Twitter Wood column on MTV Movies Blog.

Wendy Williams The self-proclaimed "Queen of All Media made a name for himself as a radio DJ was then a best-selling author and currently hosts her own syndicated daytime talk show called" The Wendy Williams Show. " Williams has a knack for asking tough questions during celebrity interviews and certainly is a force to be reckon with on the dance floor.Your talk show is reportedly going on hiatus while she competes in the show.
Chelsea Kane As the practice over the past season, the "DWTS" was team has another Disney star in their midst, Chelsea Kane welcomed (formerly known as Chelsea Staub, Kane legally changed its name to the name in December). The 22-year-old was a regular Disney's "JONAS" with the Jonas Brothers and currently lends her voice to the character of Bea on the animated series "Fish Hooks".

Sugar Ray Leonard Leonard, a former professional boxer, occurs in the footsteps of a number of former professional athletes, who danced before him. While athletes have been formidable competitors in the "DWTS" seasons past, the boxers have not fared quite so well. The 54-year illustrious career, winning world titles in five weight classes to earn, including the welterweight champion of the world, as well as the first boxer to more than $ 100,000,000 in total purse earnings. Here's hoping Leonard footwork is like as of Laila Ali and Evander Holyfield Floyd Mayweather.

Ralph Macchio Although a few memorable parts on TV shows like "Entourage" and that "Ugly Betty" for many people, over and over again Macchio is the original "Karate Kid". Sure, Jaden Smith karate his way to box-office success hacked his train in 2010 remake, it Macchio went his way into the hearts of teenage girls everywhere with 1984 "The Karate Kid" and the subsequent sequels.
Hines Ward They are certainly not skimp on the athletes this season! Ward joins the cast as one of three professional athletes, famous for the disco ball trophy. The former Super Bowl MVP currently plays wide receiver for the Pittsburgh Steelers and was born in Seoul, South Korea. In September last year as President Barack Obama him a member of the President's Advisory Commission on Asian Americans and Pacific Islanders.
Petra Nemcova The Czechoslovakian beauty is a supermodel with a big heart. The 31-year-old was one of hundreds of thousands of people caught in the devastating tsunami in South Asia in 2004, which killed 250,000 people in 14 countries, including Nemcova friend at the time, Simon Atlee. If Nemcova the site of the tsunami several months later, she visited with the structure, such as donations to benefit the residents who were dissatisfied in emergencies, they created the Happy Hearts Fund children after the disaster in eight countries to help Haiti, India, Indonesia, Mexico, Peru, Sri Lanka, Thailand and Hurricane Katrina affected areas of the United States.
Mike Catherwood While most viewers are familiar with Dr. Drew from his various VH1 shows, could be a "Loveline" radio partner, Mike Catherwood, not so well known. Catherwood, also known as Psycho Mike has co-hosted the radio show for a year after Adam Carolla exit back in 2005. The muscly radio host - who is also on Los Angeles' "Kevin & Bean Show" - recently made a memorable appearance filling in for Regis Philbin made on "Live with Regis & Kelly". We'll see if his smooth-talking skills and time in the gym translate into a successful "DWTS" run.
Who is your favorite for the beginning of the season 12 of "Dancing With the Stars"? Let us know in the comments!

Gayniggers from Outer Space


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Screen legend Jane Russell dead at 89

(AP) - The 1940s and '50s film bomb, whose name was synonymous with lust, died yesterday morning at her home in Santa Maria, Calif., said her family. Jane Russell was 89th 

Daughter-in-law Etta Waterfield said that Russell was a "pillar of health" but caught a bad cold and died of respiratory distress. 

Russell's children, Thomas K. Waterfield, Tracy Foundas and Robert "Buck" Waterfield ", were at her side, said Etta Waterfield. 

Eccentric philanthropist and film producer Howard Hughes was the first, Jane Russell on the screen in their signature to a seven-year contract in 1940 and promptly put them in his production of "The Outlaw", a film about a passionate romance between Billy the Kid and woman named Rio (Russell). 

The film received only limited release - in 1943 - because censors at the time were shy about the attention that Russell's character. Hughes was not satisfied. He pulled the film from release and held it out of circulation for six years while he did more reshoots and editing. 

Russell Hughes and held off the screen - their only other appearance in the seven years in "Young Widow" (1946), shot while she was on loan to United Artists. 

Hughes' extensive advertising campaign for "The Outlaw", but - she has said that he had their appearances, five days a week for five years - Russell made popular during World War II as a pin-up, and when the film was in 1946 was published, she was a star. 

While Hughes Russell fetishized body in other movies after their first contract ended and the other two negotiated, the actress quietly made a name for himself as a talented actress capable of high drama or light comedy. It appeared as Calamity Jane with Bob Hope in "The Paleface" (1948) - another loan-out - and a sequel, "Son of Paleface," 1952 - earning an Oscar nomination for the song "Am I in love?" 

Robert Mitchum was her co-star twice -. "Macao" in 1951's "His Kind of Woman" and 1952 that you screen shared with Frank Sinatra and Groucho Marx in 1951 the "Double Dynamite," with Victor Mature, Vincent Price, and Hoagy Carmichael in "The Las Vegas Story" (1952). 

But in 1953 the "Gentlemen Prefer Blondes" Marilyn Monroe was that Russell shot into the stratosphere. She was celebrated for her singing and comedic acting, and only two years later made her last film for Hughes. 

Russell had some success as a singer in the 1940s appear to the Kay Kayser Orchestra, and in 1954 she and (later replaced by Rhonda Fleming) Beryl Davis, Connie Haines and Della Russell began recording religious-themed market Music and toured as "The Four Girls. 

Russell and her first husband, high school sweetheart, Bob Waterfield - an All-American quarterback for UCLA and a Pro Football Hall of Fame, for the Cleveland Rams and the Los Angeles Rams played - formed a production company based in 1955 produced three films with Russell. But after "The Fuzzy Pink Nightgown" flopped in 1957, Russell took a break from film and concentrated on her music career. 

When she returned to the movies, but she could not play their role, their screen career ends with a number of westerns in the 1960s and the 1970 thriller "Darker Than Amber."

While it may have been the attention to Russell's character, it was the Super Star, the number of its Madison Avenue brought fame in the 1970s, when it appeared in commercials for Playtex Cross Your Heart Bra featured "full of thought for us girls." 

Russell had a few appearances in the 1970s and wrote an autobiography, "Jane Russell: My Path and My Detours" revealed in 1985 that her marriage to Waterfield ended in 1968 because of the struggles with infidelity, and alcohol. 

to be born in Minnesota, an army lieutenant and a former actress Jane Russell was drawn to drama, but initially planned to designers. She took music lessons and acted in high school productions, but when her father died early, Russell went to work as an assistant - and I have some models on the page - to support the family. 

At 19, Russell had a botched, back-alley abortions, performed in their inability to receive children. You and Waterfield, they married in 1943, has three, and they much of the rest of their lives, are devoted to adoption and adopted children. 

Russell was still twice to actor Roger Barrett in 1968 and married businessman John Calvin Peoples in 1974. Her marriage to Barrett but took three months before he died of a heart attack. You and people were together until his death in 1999. 

Throughout her career, Russell was a staunch conservative, Democrats in Hollywood as "crazy." 

"In my day was Hollywood Republicans," she once said. "All the heads of the studios were Republicans, and we were fighting communism. She had John Wayne and Charlton Heston and me and Bob Mitchum, and President Ronald Reagan came directly from the same group." 

She was a vocal supporter of the Iraq war from the start in 2003, a vocal opponent of abortion, even in cases of rape or incest, a tireless fighter, "the Bible back in schools."They despised the Clinton administration and was a fan of former U.S. Secretary of State Condoleezza Rice and conservative commentator Ann Coulter. 

And in 2003, she described herself as "abstinent narrow-minded, right wing, narrow-minded, conservative Christian bigot", variations of which she uses frequently.

Iran is threatening to boycott the 2012 Olympics, after he spelled the logo claims "Zion "

London 2012

The London 2012 logo is under scrutiny by the Iranian Olympic Committee.

It seems the Iranian National Olympic Committee, the spending a little too much time in Magic Eye.

Bahram Afsharzadeh, the Secretary General of the National Olympic Committee, told the official news service that he believes logo for the Olympic Games in 2012 spelled "Zion" - a term frequently used to refer to Jerusalem.

Afsharzadeh said he aired his concerns in a letter to the International Olympic Committee President Jacques Rogge and that if its concerns are not addressed, the country to boycott the Games.

"There is no doubt that the question of negligence on your part, the presence of some countries in the games that influence especially Iran, which holds by commitment to the values and principles," the letter said, according to Iranian officials.

The IOC said it had received the letter, but do not plan to change the logo - and rejected the Iranian claims.

In 2007, the logo was unveiled, said designers of the London newspaper The Telegraph, it should be hip and is aimed at the younger "Generation Internet". It is inspired by graffiti artists and is based roughly on the numbers 20 and 12.

Iran's President Mahmoud Ahmadinejad has denied the Holocaust happened often, and called for the destruction of Israel. But because the logo was revealed as long ago, organizers said they were "surprised that the complaint was not made."

Ironically, in 2007, telling a Jewish person of the BBC that he believed the logo was similar to the infamous SS symbol.

Iran, which usually threatens boycott of the Games at least once before the event, boycotted the 1984 Games. 

Charlie Sheen, "Today Show" interview: "I've got DNA Adonis, Tiger Blood and CBS should lick my feet 

Charlie Sheen calls himself a "warlock" who will wage war "with zeal"

(CBS) - A couple of things that we all now know about Charlie Sheen, he got a "tiger blood", "Adonis DNA" and wants more cold hard cash to continue working on "Two and a Half Men". 

Those are just some of the gems that spewed from the 45-year-old bombastic interview with NBC's Today Show on Monday. 

In a televised forum that discussed his battle with addiction, his feelings about CBS and its measure of "Two and a Half Men" creator Chuck Jack, Sheen repeated his claim that he is clean and sober and ready to work. 

"I have no interest in cocaine," said Jeff Rossen daily. Rossen when asked if Sheen was clean, he replied, "Look at me. Duh." 

Sheen claims he has cured himself of addiction. How? "I closed my eyes and did so with the power of my mind." 

Exactly. 

As for CBS, Sheen said: "We are indeed at war." Why? "They are trying to destroy my family." 

He is not worried though. As he said Rossen, "defeat is not an option. They picked a fight with a warlock." 

When asked whether he should apologize to CBS for his past antics, Sheen replied, "No, they owe me an apology, a public one. They should be licking my feet." 

He shared a similar sentiment for Warner Brothers, suggesting that they should rename it "Charlie Brothers." Sheen also thought his last proud because he is different from most people. "Tiger his blood" and "Adonis DNA" is part of what makes him "special" and the addiction. 

When asked if he was anti-Semites, Sheen insisted, "I'm not that guy." 

"Two and a Half Men" fans hoping for a positive resolution to the whole situation can take heart. At the end of his interview, Sheen said, "I will finish on television. I am a man my word. I'm not even ten times." 

It is, of course, if CBS and Warner Bros. raise his salary to $ 3,000,000 per episode, that Sheen has been asking to go back to the show. 

CBS Entertainment had no comment by press time. CBS Entertainment and CBS News are owned by the same parent company.