Jenifer McKim, Boston Globe, on the AGs Foreclosure Bill
Thu, 10 May 2012|
The AGs is pushing a Foreclosure Bill. Jenifer McKim from the Boston Globe details it all.
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Tami Luhby, CNN MoneyTami Luhby, CNN Money
out there. All my family is out and Antarctica there in -- hockey players all these Bruins players that you love -- -- where you think they're from either from you figure from Massachusetts. What -- -- the American players on the crossed amber is here now so why. Why did you leave. My dad a transfer okay Kampman you'd still be their -- guys that are not facts you'd go back tomorrow -- if you. The problem is I'm not a good enough occupier he it to be. Saskatchewan. Produces more hockey players per capita than any other place in the world to -- a -- paid attention the past couple weeks. But supposedly the number one hockey player in the world it turns out. He's not that Iraqi player you know he is that it is just that the other Canadian playing against -- is a better player. -- birdie is a better player than Sidney Crosby . When he doing and you look at the game of hockey -- get ready looks at the offensive side of hockey chemicals that yet now it's a two -- game you gotta be of the play defense Sidney Crosby can't play defense he sucks and the defense he's he's he's a wimp. And he doesn't play. That's an uncle Chris Chelios . Give me a belt made him but he running each. Is. Like rich rich this is embarrassing to to stop that knowing that Jack and Roenick now. Wage on the island -- got your -- -- these. Players I sound yet I've actually her -- The hall of famers I mean it the best like Bobby or he's from Canada and -- now he's from Saskatchewan. Wayne Gretzky he's from -- In isolating it like that's your national sport that you didn't see any baseball players made it in the -
Casey Ross, Boston Globe, on PriceWaterHouseCooper's
Casey Ross, Boston Globe, on PriceWaterHouseCooper's
right now are taking a look at the waterfront -- the new real estate option. Then moving to a different officers bank put you know they want to establish -- -- exciting new abandoned building and so. The seaports and interest and opportunity that drawing a lot of companies trying to. Why I think I like the financial district to that what's the big attraction of the seaport area you name it may be a mess it's. Poll. It's cheap and it's that's the main thing is that you know right up there looking around at look at okay -- and I moved to and another office building downtown and I stay put. You know that the currently rate or should I mean he moved to the seaport there's a -
Shawn Kravetz, Esplanade Capital
Shawn Kravetz, Esplanade Capital
been and then. We'd like to buy the whole company and then negotiated transaction . Do you own any shares in the company now. We do we heard the second largest outside shareholder. The family owns roughly 90%. Of this company. DE Shaw. Very very large hedge fund in New York City is the largest outside shareholder and we are number two. Why panel why they're why they hesitating to solitude they must feel that the shares are worth Maurizio I think I can conclude. Well. I don't wanna speak for them but I suspect you're right on the money. They had no idea that and they know there's a lot of value there. And I guess they're confident that someday they will get that we would like to help shareholders get that values sooner rather than later. Because. We thought the assets -- well. You made the statement that you feel the -
What's Up On Wall Street - Andy Cinko, Bloomberg News
What's Up On Wall Street - Andy Cinko, Bloomberg News
we asked a question of the day which had to do with Social Security And collect your Social Security for retirement age or are you going to collect literally. 73%. Of Americans collect their Social Security early in the vast majority of cases I think that's a mistake but people do it for any reasons. When I came up with June and I think is a good idea for us to talk about is you know we're sitting here and and and acting all high and mighty. As it relates to this discussion about Social Security in the back the matter is we have access to tremendous resources on this topic whether the courts are now ski. Who worked for the departments of security for 37 years or whether it's Chris Farrell was a reporter for Bloomberg we have access to a lot of data. What I would like to do is make this information on Social Security Tips to maximizing -- worst Social Security benefits I'd like to make it available to our listening. I think it's they I think it's important. You know people refer to it I think some 97 -- as areas of securities of Ponzi scheme this. I disagree with you respectfully -- disagree with you but you know -- more importantly. Please educate yourself on Social Security Call this phone number it's 508591. 5444. Asked for the guide about Social Security tell the I would pay -- wanna learn more about Social Security Barry seems to know a lot you know why I read a -- I studied this stuff every day it's what I do for a living. 5085915444. Is the number you should call. Call them. Tell -- you're listening to the financial exchange and you want to learn more about how he can maximize your benefits. Out of Social Security I think you'll be glad you made the call I know I was glad when I read the report on Social Security Maybe a more informed consumer. 5085915444. Up next Sean Kravitz he's the president of a hedge fund. That has been trying for
Automatically Generated Transcript (may not be 100% accurate)
Relative Martha Coakley is at it again. Now she seems to be at a loss content he's an aggressive attorney general. And she's got a bill in front of the Massachusetts state legislature than we're gonna talk about that bill with Jennifer -- but before we do that. But rather hoping you could give us a positive opening bell report you're looking lovely this. You very largely -- six TH one to anyone yet. All right Dow futures up sixty points to excuse me something wrong with that -- -- openly -- area you don't get you know again a live report on in terms with that don't. Yeah it's it's you know it is it's just sort of filtering through slowly -- mine -- -- yeah okay -- and you know now I've got it -- 53 attempts it. And S&P up nine that's good I -- that overall markets in positive territory. I'm gonna go get some water so you do get a province -- -- a lot of talk to my good friend Jennifer -- good morning Jennifer Dario. I'm -- according. Hey I I was hoping -- -- you're your article about the Massachusetts attorney general in this foreclosure bill. Talked just about the bill with what's contained within this bill and and why is it being out in front of the legislature. I and I and it couldn't think cart at this point they'll be seen because it -- -- started the legislative process but basically. It's the bill that Coakley was pushing because she felt like. They were not modifying -- -- well I don't know if we all heard and therefore leading a lot of water boy -- -- -- I've ever and you ain't so basically what the bill that -- it that it hired lenders certain. And they that they consider it to look at -- Before they require. More profitable. To help and actually. Well. I guess the -- what I don't understand is -- wide as the attorney general and wide as the Massachusetts state legislature. Have the right to put these rules on private transactions it would be like me say I loaned you money Jennifer I -- to a thousand dollars right. And you said burial pay 5% interest on that alone and then a year from now call me back a 1050 dollars. -- what right did they have to -- to infringe on that transaction that's that you and I it's a private lending transaction I just don't understand why the legislatures and. Am not a lawyer but I do all the time they're always changing a lot to give. Acquire the bank specially in the foreclosure thing for example foreclosures started to happen a lot patent. I haven't it doesn't need is that you have to have that cooling off period is no 9880. And -- it mediate a parent know what it'll. Restriction or acquire and they are that they they'd have a lot. Attendant. After sparklers comment -- QB sell the property that they they do it all our. You know I I know they do really I guess might what I'm uncomfortable with is that. You don't win when they do that act as I talked to some bankers last week when this bill started doing when Martha started get -- Golan. And I think actually -- spoke to bill Kylie that's the guy that you interviewed from right now I haven't highly erect. And I asked us it will Kevin. If if they're forced. To cut somebody a deal on their mortgage in if it's if it's law. What does that do to the profit margins for these private banks he said very. We're gonna have to pass that cost on to other consumers that have good credit and pay their bills on a timely basis. My understanding that this -- basically says true. It can be only. It's actually. On it that actually are propped all -- Help them and work well is it no property a lot of it. It it but -- an. LA general ballot. Left and it. The on the market where of course. Bill and saying oh how it would only the profitable. And highly end. Not only just about it -- apple owner has opt out there or they ask a now actively ill and air raid. You know then that and be a liability. Suits so yeah there there are. Side. So what do you make of it is a canoe is -- gonna passes -- gonna happen. Not that I don't know why I got yesterday and I couldn't get it clear it made it meter hurdle got past. Connecticut how -- And it that we don't have a couple it'll happen. You know it's the it's a tough thing I I I always. I get concerned. When the government says we're here and we're we're gonna help you know that that. I. Have outlander I mean I think there's been a real feeling that lenders. Without it not that. Now I don't know -- again it's a private transaction it's like you really know what right do they have. To tell me did it with the terms of mine owner going to be in. Mean look the whole reason that we know that from the earthquake. Pretty proud get blown anybody want you know -- Yup -- but that was again Jennifer that was the the federal government Fannie Mae and Freddie Mac saying hey you gotta give loans to everybody even if they're. Even if they don't. -- lousy credit no down payment no job no assets you Maloney you know it's if those are all Fannie and Freddie backed mortgages and. And more private. Munich I think so I mean it was you know and everybody thought that you know or an -- they can't do it election. You can actually pay for their own it's now illegal to give my -- I know it's gonna fail now. You know -- they're. Out. It's always. Hate going from back court. It certainly -- dinner in certain ideas all right -- Jennifer thanks very much for your time watcher per.
