12-15-2019  12:03 am   •   PDX Weather    •   SEA weather  
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NORTHWEST NEWS

Louisiana State University President Heading to Oregon Job

F. King Alexander will succeed Ed Ray, who is retiring from the position at Oregon State University at the end of June after 17 years as president. Ray will continue in a teaching role at the university

PHOTOS: Black Santa Visits Northwest African American Museum

The Skanner's Seattle photographer Susan Fried was on hand to snap some photos

English Language Learners' Success Translates Into a $25,000 Milken Educator Award for Teacher Julie Rowell

Oregon educator boosts student achievement and future prospects at Gresham High School

Portland Resident Hoping to Donate Kidney to Black Recipient

Fewer Black patients receive live kidney donations

NEWS BRIEFS

Friends of the Children Chapter Coming to Tacoma, Executive Director Announced

Organization empowers youth facing the greatest obstacles through the long-term support of professional mentors ...

Oregon Humane Society Celebrates the Adoption of the 11,000th Pet of 2019

Max, a two-year-old Labrador/Weimaraner mix, is going to a new home with the Dunlap family of Damascus ...

EPA Approves Funding for Oregon and Washington to Improve Drinking Water, Wastewater Infrastructure

States estimate $190 million for wastewater, $35 million for drinking water projects in Oregon, and $120 million for...

Conservation Breakthrough for Endangered Butterfly

The Oregon Zoo's breeding success provides new hope in an effort to save Oregon silverspots ...

Meet 80 Local Authors at OHS 52nd Holiday Cheer Book Sale and Signing

This free Oregon Historical Society event will be held this Sunday, December 8 from 12 p.m. – 4 p.m. ...

Man convicted of hate crime for punching transgender woman

PORTLAND, Ore. (AP) — An Oregon man convicted of punching a transgender woman has been sentenced to probation. Dominick Gonzales, 38, changed his plea Friday and was convicted of first-degree bias crime for punching the woman in Northwest Portland in September, Multnomah County District...

Oregon Supreme Court upholds district attorney suspension

PORTLAND, Ore. (AP) — The Oregon Supreme Court upheld a decision to suspend a district attorney for lying to investigators. Wasco County District Attorney Eric Nisley will be suspended from practicing law for two months beginning in February, the court ruled Thursday. The ruling upholds...

New Missouri coach Eli Drinkwitz predicts success

COLUMBIA, Mo. (AP) — Eli Drinkwitz was saying all the right things after being introduced as the new football coach at Missouri, laying out his vision for the once-proud program with unwavering confidence and bold proclamations.Then the former Appalachian State coach made a minor...

LSU's Burrow, Auburn's Brown named AP SEC players of year

LSU quarterback Joe Burrow is a unanimous selection as the offensive player of the year on The Associated Press All-Southeastern Conference football team.The top-ranked Tigers also have the SEC’s coach of the year in Ed Orgeron and the newcomer of the year in freshman cornerback Derek...

OPINION

Will You Answer the Call for Moral Revival?

In embracing and expanding the legacy of Dr. Martin Luther King, Jr., Revs. Barber and Theoharis have asked Presidential candidates to consider a debate that focuses exclusively on poverty ...

What I’m Thankful For This Season

Ray Curry gives thanks for a human right that shaped our country throughout the 20th century and that made Thanksgiving possible for so many Americans who, like him, didn’t get here by way of the Mayflower ...

Congressional Black Caucus Members Visit U.S.-Mexico Border: “Mistreatment of Black Immigrants is Another ‘Stain on America’”

Members said they witnessed first-hand the deplorable treatment and plight of Black immigrants ...

Portland, I'm Ready

Last month I had the privilege to stand with hundreds of supporters and announce my intention to run for re-election ...

AFRICAN AMERICANS IN THE NEWS

Former Gary, Indiana, Mayor Richard Hatcher dead at 86

Former Gary Mayor Richard Hatcher, who became one of the first black mayors of a big U.S. city when he was elected in 1967, has died. He was 86.Hatcher died Friday night at a Chicago hospital, said his daughter, Indiana state Rep. Ragen Hatcher, a Gary Democrat. She did not provide a cause of her...

Reparations mark new front for US colleges tied to slavery

BUFFALO, N.Y. (AP) — The promise of reparations to atone for historical ties to slavery has opened new territory in a reckoning at U.S. colleges, which until now have responded with monuments, building name changes and public apologies. Georgetown University and two theological seminaries...

AP Exclusive: China tightens up on info after Xinjiang leaks

The Xinjiang regional government in China’s far west is deleting data, destroying documents, tightening controls on information and has held high-level meetings in response to leaks of classified papers on its mass detention camps for Uighurs and other predominantly Muslim minorities,...

ENTERTAINMENT

'Lemonade' by Beyoncé is named the AP's album of the decade

NEW YORK (AP) — The top 15 albums of the decade by Associated Press Music Editor Mesfin Fekadu:1. Beyoncé, “Lemonade”: At the beginning of this decade, Beyoncé was already the greatest singer of her generation. She won a record six Grammys in a single night, had women...

'Mad Men' actress Christina Hendricks files for divorce

LOS ANGELES (AP) — “Mad Men” actress Christina Hendricks filed for divorce Friday from her husband of 10 years, actor Geoffrey Arend. Hendricks filed the marriage dissolution documents in Los Angeles Superior Court, citing irreconcilable differences. The 44-year-old Hendricks...

‘Rise of Skywalker’ is almost here, but a dark side looms

LOS ANGELES (AP) — When Disney bought Lucasfilm for more than billion in 2012, there were lofty expectations of reviving “Star Wars” in spectacular hyper-speed fashion with a new trilogy that continued the story of Luke Skywalker and other beloved characters.The space saga...

U.S. & WORLD NEWS

Preservation or development? Brazil’s Amazon at a crossroads

TRAIRAO, Brazil (AP) — Night falls in Brazil’s Amazon and two logging trucks without license plates...

Under pressure, Hallmark pulls gay-themed wedding ads

NEW YORK (AP) — Under pressure from a conservative advocacy group, The Hallmark Channel has pulled ads for...

Home-cooked food in Iraqi square brings protesters together

BAGHDAD (AP) — In Baghdad’s Tahrir Square, there are the anti-government protesters demonstrating...

Greta Thunberg apologizes for 'against the wall' comment

MADRID (AP) — Teenage climate activist Greta Thunberg has apologized for saying politicians should be put...

Supporters of embattled Thai opposition party hold big rally

BANGKOK (AP) — Several thousand supporters of a popular opposition party in Thailand that is under threat...

North Korea says new tests will help it counter US threats

SEOUL, South Korea (AP) — North Korea said it successfully performed another “crucial test”...

McMenamins
Pallavi Gogoi and Eileen Aj Connelly AP Business Writers

NEW YORK (AP) -- In a sweeping move, the government on Friday sued 17 financial firms, including the largest U.S. banks, for selling Fannie Mae and Freddie Mac billions of dollars worth of mortgage-backed securities that turned toxic when the housing market collapsed.

Among the 17 targeted by the lawsuits were Bank of America Corp., Citigroup Inc., JP Morgan Chase & Co., Goldman Sachs.

The lawsuits were filed Friday by the Federal Housing Finance Agency which oversees Fannie and Freddie, the two agencies that buy mortgages loans and mortgage securities issued by the lenders.

The total price tag for the securities bought by Fannie and Freddie affected by the lawsuits: $196 billion.

The government didn't provide a dollar amount of how much it seeks in damages. It said that it wants to have the purchases of the securities canceled, be compensated for lost principal and interest payments as well as attorney fees and costs. The lawsuits allege the financial firms broke federal and state laws with the sales.

Home mortgage-backed securities were risky investments that collapsed after the real-estate bust and helped fuel the financial crisis in late 2008.

In the lawsuits that were filed in federal or state court in New York and the federal court in Connecticut, the government said the securities were sold with registration statements and prospectuses that "contained materially false or misleading statements and omissions."

The Federal agency said the banks and mortgage lenders also falsely represented that the mortgage loans in the securities complied with underwriting guidelines and standards. They also included representations "that significantly overstated the ability of the borrower to repay their mortgage loans."

The 17 institutions are Ally Financial Inc., formerly known GMAC LLC, Bank of America Corp., Barclays Bank PLC, Citigroup Inc., Countrywide Financial Corp., Credit Suisse Holdings Inc., Deutsche Bank AG, First Horizon National Corp., General Electric Co., Goldman Sachs & Co., HSBC North America Holdings Inc., JPMorgan Chase & Co., Merrill Lynch & Co. and its unit First Franklin Financial Corp., Morgan Stanley, Nomura Holding America Inc., The Royal Bank of Scotland Group PLC, and Societe Generale.

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