Once a prominent investor and fundraiser for the Democratic Party with ties to Barack Obama and Hillary Clinton, Hassan Nemazee has now been accused of lying about his assets in order to secure a $74 million loan from Citibank. According to the federal complaint filed against him, Nemazee forged documents that tried to depict that he owned accounts with several million dollars worth of collateral.
 
Nemazee was a national finance chairman for Mrs. Clinton and has also maintained ties to a variety of prominent political figures by inviting them to his Park Avenue home. Now, though, he faces one charge of …read more

The thing is, isn’t Obama right? Aren’t many U.S. citizens bitter about the way the economy has performed? There is no better example of this bitterness than in the housing and mortgage industries. When I talk to homeowners trying to sell their properties, they’re bitter that they’ve had to reduce their asking price two, three times and they’re still not getting any offers. Homeowners who aren’t selling are bitter that the house they purchased two years ago has now lost value.