10-23-2019  12:12 am   •   PDX Weather    •   SEA weather  
  • 1
  • 2
  • 3
  • 4

NORTHWEST NEWS

Washington State Ecology Director Objects to EPA’s Proposed Clean Water Act Rule

Ecology Director Maia Bellon submitted formal objections in which she calls the proposal ill-advised and illegal

Washington State to Vote on Affirmative Action Referendum

More than two decades after voters banned affirmative action, the question of whether one's minority status should be considered in state employment, contracting, colleges admissions is back on the ballot

Merkley Introduces Legislation that Protects Access to Health Care for Those Who Cannot Afford Bail

Under current law, individuals in custody who have not been convicted of a crime are denied Medicare, Medicaid, and veterans’ benefits

New County Hire Aims to Build Trust, Transparency Between Community and Public Safety Officials

Leneice Rice will serve as a liaison focused on documenting and reporting feedback from a community whose faith in law enforcement has been tested

NEWS BRIEFS

U.S. Census Bureau Hosts Job Recruitment Events in Portland

There are several opportunities to ‘Meet the Employer’ today through Saturday for more information or to apply for 2020 census...

GFO Offers African Americans Help in Solving Family Mysteries

The Genealogical Forum of Oregon is holding an African American Special Interest Group Saturday, Oct. 19 ...

Third Annual NAMC-WA Gala Features Leader on Minority Business Development

The topic of the Washington Chapter of the National Association of Minority Contractors' event was 'Community and Collaboration' ...

Building Bridges Event Aims to Strengthen Trust Between Communities

The 4th Annual Building Bridges of Understanding in Our Communities: Confronting Hate will be held in Tigard on...

The Black Man Project Kicks Off National Tour in Seattle

The first in a series of interactive conversations focused on Black men and vulnerability takes place in Seattle on October 25 ...

Woman sues Oregon clinic over claims of past abuse by doctor

PORTLAND, Ore. (AP) — A woman who says she was repeatedly sexually abused by her pediatrician has filed a jumi million lawsuit against the doctor's former medical clinic in Oregon.The Oregonian/OregonLive reported Tuesday that the woman says the abuse occurred in the 1980s and early 1990s at...

Police: Body found is missing university student

PORTLAND, Ore. (AP) — Portland police say a body found near the St. Johns Bridge in Northwest Portland is a missing University of Portland freshman.Police on Tuesday evening said that the medical examiner's office had conducted an autopsy and positively identified the body as Owen...

AP Top 25: Ohio State jumps Clemson to 3rd; Wisconsin falls

Ohio State edged past Clemson to No. 3 in The Associated Press college football poll and Wisconsin dropped to 13th after being upset ahead of its showdown with the Buckeyes.Alabama remained No. 1 on Sunday in the AP Top 25 presented by Regions Bank, receiving 24 first-place votes. No. 2 LSU held...

Vaughn scores twice, Vandy upsets No. 22 Missouri 21-14

NASHVILLE, Tenn. (AP) — Derek Mason wants it known he's the best coach for the Vanderbilt Commodores.Riley Neal came off the bench and threw a 21-yard touchdown to Cam Johnson with 8:57 left, and Vanderbilt upset No. 22 Missouri 21-14 on Saturday with a stifling defensive...

OPINION

Atatiana Jefferson, Killed by Police Officer in Her Own Home

Atatiana Jefferson, a biology graduate who worked in the pharmaceutical industry and was contemplating becoming a doctor, lived a life of purpose that mattered ...

“Hell No!” That Is My Message to Those Who Would Divide Us 

Upon release from the South African jail, Nelson Mandela told UAW Local 600 members “It is you who have made the United States of America a superpower, a leader of the world" ...

Rep. Janelle Bynum Issues Response to the Latest Statement from Clackamas Town Center

State legislator questions official response after daughter questioned for ‘loitering’ in parking lot ...

Why Would HUD Gut Its Own Disparate Impact Rule?

"You can’t expand housing rights by limiting civil protections. The ’D’ in HUD doesn’t stand for ‘Discrimination’" ...

AFRICAN AMERICANS IN THE NEWS

Farewells to US Rep. Elijah Cummings to begin in Baltimore

BALTIMORE (AP) — Constituents, friends and other mourners are set to gather at a historically black college in Baltimore to honor the life of U.S. Rep. Elijah Cummings in the first of a series of planned services.The Maryland congressman and civil rights champion died Thursday of...

Trump claim brings new pain to relatives of lynching victims

MONTGOMERY, Ala. (AP) — Willie Edwards Jr., a black truck driver, was killed by Ku Klux Klansmen who forced him to jump off a bridge in Alabama in 1957. Two years earlier, white men had bludgeoned black teenager Emmett Till to death in Mississippi. No one went to prison for either...

Trump 2020 targeting Hispanic vote in nontraditional places

YORK, Pa. (AP) — President Donald Trump's reelection campaign is making contrarian appeals in the most unusual places, trying to win over Hispanic voters in states not known for them, like Pennsylvania.His second campaign, far better financed and organized than his first, is pressing every...

ENTERTAINMENT

Liam Gallagher talks solo rise, family feud and rock music

LOS ANGELES (AP) — Spend a few minutes with Liam Gallagher and it's clear the rocker hasn't lost any of his bravado, right down to counting himself among the greats in rock history.But Gallagher does acknowledge that one band breakup — not, Oasis, but rather the demise of Beady Eye in...

Lori Loughlin, other parents charged again in college scheme

BOSTON (AP) — "Full House" actress Lori Loughlin, her fashion designer husband and nine other parents faced new federal charges Tuesday in a scandal involving dozens of wealthy parents accused of bribing their children's way into elite universities or cheating on college entrance exams.A...

Celebrities to get drag makeovers in RuPaul's new VH1 series

LOS ANGELES (AP) — RuPaul is giving a dozen celebrities the chance to get drag makeovers for charity and bragging rights.VH1 said Tuesday that "RuPaul's Celebrity Drag Race" will air as a limited series next year.Each of the four episodes will feature a trio of stars competing for best drag...

U.S. & WORLD NEWS

Is the stethoscope dying? High-tech rivals pose a threat

CHICAGO (AP) — Two centuries after its invention, the stethoscope — the very symbol of the medical...

Boris Johnson inches toward securing Brexit but delay likely

LONDON (AP) — For a brief moment Tuesday, Brexit was within a British prime minister's grasp.Boris Johnson...

Russia, Turkey seal power in northeast Syria with new accord

ANKARA, Turkey (AP) — Russia and Turkey reached an agreement Tuesday that would cement their power in...

Botswana votes as ruling party faces surprising challenge

GABORONE, Botswana (AP) — Polls opened in Botswana on Wednesday as the long-peaceful southern African...

Boris Johnson inches toward securing Brexit but delay likely

LONDON (AP) — For a brief moment Tuesday, Brexit was within a British prime minister's grasp.Boris Johnson...

Canada's Trudeau wins reelection but faces a divided nation

TORONTO (AP) — Prime Minister Justin Trudeau begins his second term facing an increasingly divided...

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.

© 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.

mlkbreakfast2020 tickets 300x180

Portland Book Festival
Pacific University Master in Fine Arts Writing
Calendar

Photo Gallery

Photos and slide shows of local events