It seems that investigations and lawsuits against companies, both large and small, citing securities fraud are growing. It could be a result of too much greed and too little oversight, but the fear of relaying bad news to investors and shareholders is often what's highest on the list.

We are currently investigating Cadence Design Systems, the world's leading electronic design automation (EDA) company, based on reports the company misled investors by issuing false and inflated reports about the company's financial health.

Allegedly, the company improperly reported $24 million in revenue during the first and second quarter of 2008. What the company failed to tell investors and shareholders was that some of that revenue wouldn't be earned until later in the year.

This is something we've seen time and time again and investigations and lawsuits such as this are a large part of our securities practice at HBSS.

We recently began a new blog targeted specially at securities litigation, corporate fraud and all the other financial woes that arise in this realm of litigation. A partner in our San Francisco office penned a post on the Cadence investigation. I encourage you all to take a look and continue to follow the blog regularly at http://www.meaningfuldisclosure.com/.

As for this investigation into Cadence, we'll keep you posted on the Web site, this blog and on Meaningful Disclosure.

We are finally done with a seemingly interminable election season and it's safe to say there is a feeling of hope and optimism across the country. But as President-Elect Obama has said, now the real work begins.

I believe the financial crisis in this country is only beginning to unfold. On the surface, we see reports of increased home foreclosures, significant stock drops, and companies closing their doors, laying off thousands.

But my bigger fear is that we are just now starting to see the second wave - a more damaging wave - caused by the economic tsunami.

The New York Times ran a powerful story last weekend. The authors Charles Duhigg and Carter Dougherty, tell the story of school districts in the Midwest that were sold exotic investment instruments with promises of steady returns and investment security. The authors looked at Whitefish Bay, Wisconsin, a town that is like most others. The city leaders, trying to fill a hole in the school district's retirement plans without raising taxes, joined four other school districts and collectively decided to invest $200 million in safe, corporate bonds.

Or so they thought.

Following the advice of their advisors, they borrowed $165 million from an Ireland-based bank, Depfa. Following the direction of their advisors, they invested the borrowed money in collateralized debt obligations (CDOs). Every step of the way, the city's financial advisors - who, of course, made a profit from the deal - calmed fears and told the city that the investment was safe.

We all know what happened next - the housing market collapsed and the investments went south. Way south.

Should the city have invested in something as arcane as collateralized debt obligations? Maybe not, but they certainly deserved better counsel from their advisors.

We believe these advisors, and the investment banks who created the CDOs, saw a new market with school districts, municipalities and others. We believe they did a flawed job at explaining the risks and instead focused on these markets as yet-untapped profit centers.

We also believe these cities and school districts need to fight back. Sure, the districts and cities bear some responsibility, but so do the slick, fear-assuaging brokers and investment banks foisting these deals on competitively less-informed purchasers. 

My fear is that the Whitefish Bay story isn't an isolated one - just the first one we've heard. I hope the city managers, mayors and council members of these cities protect the interests of their citizenry and hold these people accountable.

It is hard to conceive that a French philosopher from the 17th century could have an impact on our current housing crisis, but as luck would have it, Charles-Louis de Secondat, baron de La Brède et de Montesquieu may have played a roll.

More precisely, had Countrywide Mortgage CEO Angelo Mozilo spent some time reading his political history, and abiding by Chuck's thinking, we might have avoided our current donnybrook.

Montesquieu introduced the concept of checks and balances, originally focused on the political application. His contention, in a nutshell, was that a good system had inherent, opposing forces that could snap into play when one side of the political equilibrium became too dominant.

What he had in mind for government also worked in business, in this case, real estate.

The deal went like this - a home purchaser went to a bank or mortgage broker and asked for a loan. The lender, in turn, went to an appraiser to do an independent evaluation of the home's worth, to make sure there was enough equity out there to support the loan. If the purchaser wanted to borrow $1 million to buy a house worth $1 million, the appraiser would give the deal a thumbs-up. If the house was only worth $500,000, that report would tell the lender it was a dog of a deal and the lender would deny the application.

Checks and Balances.

But what happens if the lender wants appraisers to ignore their responsibility to create accurate appraisals?

Check out this article in the Seattle Post-Intelligencer by Aubrey Cohen, a very sharp real-estate reporter.  

In the article, Cohen outlines a lawsuit we filed against Countrywide on behalf of a group of appraisers who claim the mortgage lender used its influence to blacklist them after they refused gin up appraisals in line with the company's business objectives.

Our suit claims that Countrywide's practice was to seek out appraisals that supported loaning money to purchasers even if the deals didn't pencil out, simply so they could make its cut on the loan deal. We further contend that Countrywide and other lenders packaged these jack-legged loans and sold them to other investors.

Our clients contend that when they refused to play ball with this scheme, they were placed on what amounted to a blacklist, known as the ‘Field Review List,' its inside blacklist, which is used to snub appraisers.

We believe that as of Aug. 2008, more than 2,000 honest appraisers appeared on the Countrywide blacklist and that Countrywide has been using the practice for more than four years.

Countrywide tried to jump around these claims by saying blacklisted companies can still submit appraisals. However, in order to do so, individuals on the Field Review List have to file their report with an ‘approved' appraiser, effectively hamstringing them.

We've already filed three lawsuits against the company citing an array of alleged violations and corruption within the ranks. We'll keep you updated on this case and others against Countrywide. Our other suits against the company cite ERISA violations, predatory lending practices and violations of the RICO act that directly affect appraisers.

Please check our blog and Web site for more updates on this case.

Yesterday was the Jewish holiday Yom Kippur. For observant Jews, it is a very solemn day - one dedicated to repentance and atonement. During Yom Kippur, tradition holds that Jews amend their behavior and seek forgiveness for wrongs done against fellow man and the Creator, providing an opportunity to step back and look beyond the myopic "all-about-me" view.

In the bright light of this new day, though, concerns turn from moral redemption to the hardscrabble reality of an economy in freefall.

Today, working Americans are looking at the smoldering embers of their retirement funds and 401(k)s wondering if -- even after years of planning and saving -- they will be able to afford college for their children. Even worse, retirees are watching the value of their life-savings wither, making them wonder if they will have enough money to last them through the end.

For example, I think Angelo Mozilo, CEO of Countrywide, should take some time to reflect on his role in this situation. We represent a group of consumers who say that Mozilo and his organization intentionally tricked home purchasers into buying mortgages the company knew were ill-fitting. We contend that they lied to consumers about the true costs of the loans, and the volatility of the loans' interest rates. It is our belief that Mozilo's organization put these consumers - and the economy - at risk in exchange for a quick ill-gotten profit.

I think there is some room for atonement there.

And what about Seattle's own Kerry Killinger, former CEO of Washington Mutual. I can look out my window, and see the brand-spanking-new headquarters of WaMu, a building that until recently was the workplace of thousands of our friends, neighbors and colleagues. Earlier this year, the Thrift failed and all those jobs are now in question. We are representing shareholders in WaMu who contend that Killinger's organization intentionally inflated housing appraisals so the bank could make higher loans to consumers, knowing full well the underlying collateral did not exist. Of course, this house of cards came tumbling down, as did the company's stock price.

I think Mr. Killinger might find some solace in atonement.

Where will this all end? I don't know, but I hope Wall Street recognizes that inherent in atonement is a commitment to mend one's ways. We can all say "amen" to that.

Thomas Jefferson said, "Determine never to be idle. No person will have occasion to complain of the want of time, who never loses any. It is wonderful how much may be done, if we are always doing."

Since the founding of our firm we've taken those words to heart - we are constantly working for the greater good by representing clients who've been harmed by the misdeeds of companies and institutions.

The Rio Tinto case is a great example.

Recently The American Lawyer, a leading legal trade, published an article about nine active alien tort cases, which includes a case of ours against Rio Tinto, a multinational mining and natural resources group, accused of causing mass destruction of rain forests and death in Bougainville, an island in Papua New Guinea.

In the 1980s, our suit claims that the mining giant ruined thousands of acres of pristine rain forest through unbelievably brutal mining practices. As if that wasn't enough, during the subsequent years of mining, we contend that Rio Tinto dumped toxic waste onto the land and into the waters - severely damaging the environment and harming the inhabitants.

The residents of Bougainville saw their island, and their way of life, dying from the actions of Rio Tinto, and they revolted. They tried to close the mine.

The Papua New Guinea government - who was getting a cut of the action from Rio - attempted to put the rebellion down. What is interesting, though, is our claim that Rio Tinto actually supplied the Papua New Guinea government military tools to fight the villagers.

What ensued was a ten-year military blockade - including food and medicine -- which the Red Cross says led to the deaths of more than 15,000 Bougainville villagers, including many women and children.

Much like the residents of Bougainville, this case is experiencing a similar uphill battle. In 2002, a federal district court judge dismissed the case under "political question doctrine." The case was then reinstated in 2006 by a panel of the U.S. Court of Appeals for the Ninth Circuit. This decision was a lot more favorable to our clients. In October 2007, Rio Tinto argued for reconsideration of the previous decision, a move we expected. 

Earlier this year, HBSS attorneys again argued the case in front of the entire Ninth District Court of Appeals, and await a decision, which could come at any day.

You can learn more about this case by checking our blog and http://www.hbsslaw.com/ for more information.    

1. Trade-In Value of a 2006 Honda Civic - $13,075
2. Trade-In Value of a 2005 BMW 325i - $15,865
3. Trade-In Value of a 2002 Toyota 4Runner - $7,990

In the auto industry, the Kelley Blue Book helps individuals determine the value of their car. It's a standard set by the auto industry to ensure fair trade-in or re-sell value.

For most industries, there is a similar resource or benchmark to the blue book. The process of establishing a fair market price varies depending on the product, industry, regulations and more.

In the pharmaceutical industry, we have the average wholesale price or AWP. This standard helps determine what doctors, insurance companies and individual patients pay for physician-administered drugs.

However, in terms of AWP, the biggest issue is that the federal government doesn't regulate or set the AWP. Instead, the government entrusts the task to pharmaceutical companies - and we've all seen on Wall Street what happens when the government fails to regulate.

This leaves an alarming loophole for inflation and price gauging - the bases of an important case we've been pushing for years.

Recently we reached a major milestone on behalf of consumers and third-party payors nationwide when a federal judge certified two nationwide classes in the average wholesale price litigation. The National Law Journal ran a story on the ruling, which sets an important precedent.

We now have the opportunity to bring AstraZeneca and Bristol-Myers Squibb, the named defendants in the case, to court on behalf of millions of people across the country. For years, these companies grossly inflated the prices of cancer fighting drugs - costing millions to patients and insurance companies, our claim alleges.

Over the course of the last eight years, the spread on the drugs in question range from 27 percent to more than 1000 percent - resulting in extraordinary prices to consumers, insurance providers and Medicare, according to court documents.

The first class certified in the ruling is the Medigap Class. This includes all third-party payors who made reimbursements for Medicare Part B covered drugs based on the AWP. The second class includes all third-party payors whose reimbursements contracts were based on AWP.

This is significant because we've been working on this case for years in Massachusetts. Some defendants have settled while others went to trial. Following a trial last November, the court ordered the same defendants - AstraZeneca and BMS - to pay $14 million to insurance companies and consumers solely in the state of Massachusetts.

Now, Judge Saris has allowed us to bring the same allegations to a national level - vastly expanding the class base and potential damages.

As the case progresses, we'll make updates on this blog and to the Web site - so check back regularly.

In Noah's day, one gigantic flood destroyed the world. He was warned that a debilitating storm was coming and heeded that warning. He spent one hundred years gathering the resources necessary to build an ark to save his family and the animal kingdom.

Unfortunately, a small Arctic village of Inupiat Eskimos does not have a hundred years to save themselves. On a daily basis, these Native American villagers watch as the edge of their village erodes into the sea.

After years of greenhouse gas emissions and fossil fuel production, the small barrier island on the Chukchi Sea, home to 400 Native Americans and years of cultural traditions, is just one big storm away from total annihilation.

We believe global warming caused this tragedy. Compounded drastically by large fossil fuel interests in the United States - electric utilities, oil companies as well as the nation's largest coal company - we think that this potential doomsday was avoidable for many more years.

On behalf of the city and village of Kivalina, we filed a lawsuit to cover the cost of relocation. For this entire village to relocate the U.S. Army Corps of Engineers estimates total costs between $95 and $400 million - a price tag these people cannot afford.

While the defendants, some of the main contributors to global warming in the area, filed a motion to dismiss the case, we consider the suit to be of tremendous merit. Earlier this week, as a response to the defendants' motions to dismiss, we filed a consolidated opposition on behalf of Kivalina and its residents.

Regrettably, as we allege in the lawsuit, much of the global warming in the area correlates directly to the massive emissions of greenhouse gases from fossil fuels. We believe that the harmful emissions have knocked the natural carbon cycle of plants and animals out of balance and caused the Earth to heat up.

What's worse is that many of these companies knew what was happening, but instead of changing practices, these companies continued down a hazardous path.

As with most environmental cases, this is an example of a classic public nuisance. Companies like Chevron and Edison International have caused indivisible injury to property and natural resources in Kivalina.

Short of building a massive ark to rescue Kivalina's residents, we at HBSS, are doing our best to ensure the residents of Kivalina receive the help and resources they need.

As the case progresses, we'll make updates to the case page and this blog. You can visit www.hbsslaw.com/Kivalina for more information.

There is a famous Latin proverb, Melius tarde, quam nunquam, which means "Better late than never."

That proverb doesn't really apply in the case of California Verizon Wireless subscribers - instead it would have to read, "If you're late you'll pay $5."

Currently, we're investigating whether Verizon Wireless has violated California law in the questionable way the company charges its late fees.

This may seem like a normal late fee penalty, but in this case, the issue is not whether Verizon can or cannot charge late fees. The point is that by California law the fees need to be based on the actual amount owed or liquidated damages caused by the late payment.

Under the current scheme, a Verizon customer who is five days late with a $40 basic plan is charged the same late fee as a customer paying 25 days late on a $250 plan.

We believe Verizon is operating and charging customers based on a huge imbalance. It's comparable to being charged the same ticket price for coach and first class seating. It just doesn't make sense.

We're now looking for Verizon customers living in California who've been charged and paid one late fee in the past four years. You can contact the firm by clicking here, e-mailing info@hbsslaw.com or calling (206) 623-7292.

As children, we've all marveled at stories of pirates on the high seas, walking the plank and discovering lost treasure. The idea of leaving the mainland to submerse yourself in an adventure full of foreign lands, new treasures and experiences is too hard to resist.

Back to reality and current day and those adventures take place on cruise ships. It's a traveling city on water providing new adventures and different experiences around every corner and on every floor of the ship.

A popular part of the cruise experience is high-end art auctions. Vacationers can view and bid on the 'real deal' - Picasso, Rembrandt, Salvador Dali and more! These dealers promise originals at great prices that will only grow in value.

Now think back to the pirates - does that sound like empty promises of unfound fortunes? We think so!

In fact, we think the cruise ships, art dealers and financiers are in on a scheme together - much like the pirates setting a trap to steal the booty of wealthy sea travelers.

This week we filed a lawsuit against Holland America, Park West Gallery and GE claiming the companies engaged in a scheme and knowingly defrauded passengers. The lawsuit alleges the companies sold forged artwork at high-prices, an act worthy of the plank if you ask us.

Since Park West sold the artwork we believe they were aware the pieces were fake. Secondly, both Holland America and GE made money on the art sales and according to what we've been hearing have been doing so for years - we believe they knowingly let the practice continue in an effort to boost revenue.

GE is involved because the company runs a GE Money division. It provides private-label credit cards with very high limits so passengers can purchase art onboard.

Anyone who purchased artwork on a cruise from Park West is eligible to join the suit. The art pirates have been trolling for years and we're confident thousands have been affected and ripped off by the alleged scheme.

While we don't know how much the companies have made off the art sales we do know that half of Park West's revenue comes from at-sea sales and the company made $300 to $400 million in 2007 alone. That is a lot of unauthentic art walking off the ship.

As the case develops, we'll make updates to our blog and Web site. If you have questions about the case or parties included please feel free to contact us.

Imagine buying your first home. You've finally saved up enough money to purchase the house of your dreams. It has cathedral ceilings, crown molding, a deck, and a white picket fence - it's everything you ever wanted.

Then you get into the process and find out how much effort it takes to fund your dream house. You work with a top-notch escrow company. You fill in all the blanks, dot your i's and cross your t's, and happily think to yourself, I finally did it! After the long, drawn-out process, you hope nothing will go wrong and trust that the escrow company is on your side.

We hate to say it - but think again.

An escrow company is supposed to be a neutral third party. The company's job is to assist a potential homebuyer in completing the transaction between the mortgage company and the buyer.

However, today there is talk that some major escrow companies are not neutral and don't have your best interests at hand - instead, they are looking out for themselves. Not a huge surprise there. We're taking these claims seriously and are investigating what goes on behind the scenes at these escrow companies.

We suspect that Old Republic and other escrow giants are abusing their customers by nefariously engaging in what's called a retained interest scheme. Basically, the company charges fees for assisting the loan process and then deposits earnest money into a third-party account. The escrow company then earns interest on that money. That's fine.

What's not fine is that too often escrow companies will pool together multiple transactions. This pool sits for a few days to several weeks and gains substantial interest, which correlates to profits and benefits for the escrow company. The third-party bank is happy to hold these funds, as the deposits are a source of revenue. To say 'thank-you,' the banks pass along a number of credits and benefits to the escrow companies.

The money adds up quickly for these companies if you consider how many people go through this process. We think that many escrow companies pocket both interest and the funds they save from discounted banking services. However, the escrow companies do not pass those savings along to their customers in the form of reduced loan fees.

While we don't know specifically how much money the companies have made, we suspect it to be in the hundreds of millions.

We are in the midst of filing the first case of it's kind on behalf of disgruntled homeowners against escrow companies like Old Republic. If the court agrees with us, it could mean that Old Republic will have to reimburse customers for the excessive fees they charged.

If you have purchased a home in the last few years, we want to hear from you. Please contact us and tell us your story.

There is an old story about Harry Truman making a campaign speech at a Native-American reservation out West. As he began his speech, he heard a few murmurs from the crowd, punctuating the key points of his stem-winder. As he continued his speech, he could make out the word they were using - goomata. He had no idea what the word meant, but figured it was something good, because whenever he hit a major point of his speech, the crowd was in a frenzy, shouting "goomata, goomata!" pumping their fists in the air. Truman thought, "wow, this speech is golden - they love me!"

As Truman was leaving the podium and walking across the field, he had the misfortune of stepping into a rather large, fresh pile of cow dung. One of the Tribal leaders escorting Truman looked down and said, "Oh, Mr. Truman, you just stepped in a pile of goomata."

Fast forward sixty-odd years.

Check out a wonderful piece of news reported by Charles Duhigg at the venerable New York Times. Charles Duhigg reports that senior Medicare officials issued a self-laudatory report in 2006 heralding the agency's success in stemming fraud, touting the fact they drove down improper payments by an estimated $700 million.

What Duhigg's story points out, though, is that the folks at Medicare gamed the study - they told the inspectors where to look, and where not to look.

A report recently issued by the Office of the Inspector General is very critical of the Medicare study, and paints a dramatically different picture. In one instance, they note that Medicare did not take a step required by law: comparing invoices for wheelchairs with the medical records from physicians, ensuring that a doctor actually requested the equipment. In some cases, the Inspector General had trouble locating records of the equipment order from the physician, as well as finding evidence that the equipment was actually supplied to the patient.

The Inspector General estimates that the amount of fraud around wheelchairs and other medical equipment totals $2.8 billion. That is just for medical equipment.

I know that both the Inspector General and New York Times reporter Duhigg are bound by rules of propriety, but I wonder if they read Medicare's claims of success around fraud prevention and shout "goomata!"

Our firm has a great deal of interest in this issue. We are working with a number of people who have first-hand knowledge of these issues, and are preparing to move forward with action. If you - or someone you know - know of examples of Medicare fraud, we would love to hear from you.

It's funny how much a Seattle-area biotech company and its actions have a lot in common with a con man, three cards, and a cardboard box.

Have you ever played Three Card Monte? It's a card-game scam, typically run in alleys and side streets, played on top of a box so the dealer can cut and run at any sign of trouble.

If you have played the game, you are probably a little poorer for the experience. You would know that the fix was in - the dealer had the inside knowledge about the game that you didn't. That knowledge helped the dealer walk away with your hard-earned cash.

Interestingly, there are a lot of similarities between Three Card Monte and some recent developments with local CellCyte Genetics.

If you go back a few months, you may remember that we filed a lawsuit on behalf of shareholders against CellCyte. The investors claim in the action that the biotech company blatantly lied about two critical facts.

First, the suit claims that CellCyte intentionally misled the public about the scope of the company's research, and its progress surrounding stem-cell research. The suit goes on to detail how the company hired companies to tout the stock through newsletters and other communications, all including false information, some bordering on supermarket tabloid-level claims.

The second major claim is that the company lied about the qualifications of its CEO Gary Reys. Local media cited discrepancies in his education and professional credentials relating to Reys' finance degree from the University of Washington, a CPA designation, and ties to the Washington Society of Certified Public Accountants.

Once The Seattle Times and Seattle Post-Intelligencer reported these issues, the company's stock began to plummet. This week, we learned that the company is shutting its doors.

Was CellCyte a stock-market version of the card-game scam? We are very much looking forward to getting Reys and his cohorts under oath so we can find out.

For more on this case, please visit our Web site and come back to this blog for updates.

Consumers are always trying to find the best deal, and there is no shortage of companies ready to help.

Take Expedia - by all regards, a well-run company that cuts deals with airlines, hotels and other travel service providers, aggregates the offers and sells them to consumers at a discount price.

But some time ago, Expedia customers saw something that made them take notice - they were paying "taxes and fees" for their travel purchases. Nothing wrong with that, right?

Well, not so fast.

According to a complaint we filed, we think Expedia is overcharging consumers. Here's how: Expedia purchases hotel rooms at a wholesale rate, which it then marks up and sells to consumers. But as part of the process, Expedia tacks on what the company calls a "tax and service fees" charge.

What consumers don't know is Expedia is on the hook to pay tax on the lower wholesale rate, not on the higher rate it charges consumers.

What's more, our suit contends that Expedia rolls the tax charge in with the service fee to mask the financial slight-of-hand. We also contend that Expedia breached its contractual promise by charging "service fees" that bear no relation to the costs of servicing a reservation, but are simply designed to offset overhead and pad the profits of each reservation.

According to court documents, there could be as many as 15 million Expedia customers that booked a hotel and paid these fees. With that many people as potential class members, and hundreds of dollars spent on each booking - if you do the math, it adds up to a lot of zeros.

Since we've filed the case, Expedia has been fighting it, as one might expect. Earlier this month, the Court of Appeals denied a motion by Expedia to overturn the trial court's order making this a nationwide class-action.

With that out of the way, we are looking forward to represent Expedia customers in court soon. It's no vacation, but it beats unjust taxation without remuneration.

Stay tuned for more developments, or visit our site to learn more.

When is a mile really a half-mile? Talk to truckers for the Goliath trucking company Swift Transportation, and they will tell you it is whenever Swift pays its drivers by the mile.

Drivers for Swift have long held that the company pays its drivers not by actual mileage but rather by a calculation based on mileage charts. Drivers say, though, that the calculations routinely short-change them, and have been doing so for years.

We originally filed a suit against the company in 2004, but the court dismissed the case largely on technical grounds.

We appealed the case, and the higher court agreed with us, that the case should move forward.

The kicker in this case is a former manager of contract finance for the trucking company testified that the calculations from the company consistently average six percent less than what drivers actually log.

The lawsuit is getting attention in the Phoenix area showing up on AZCentral.com, the East Valley Tribune, trucking blogs and lead attorney Rob Carey recently shared the news with truckers nationwide over Sirius Satellite Radio's show Road Dog Trucking.

As the case progresses, you can check this blog and our Web site for updates.

Home-ownership is part of the American dream but after hearing from some upset Countrywide borrowers, many say it is turning into more of a nightmare.

We have been hearing from many Washington state residents that used Countrywide, and they are telling us stories that we think cross the line and violate Washington Consumer Protection laws. So much, in fact, that we recently filed a lawsuit on behalf of these homeowners.

Among other charges we included in the complaint are instances in which we believe home purchasers qualified for low-interest loans, but instead were sold much higher-interest loans. This, of course, costs borrowers much, much more, and in some cases we believe made the difference, tipping some into foreclosure.

Our suit also claims that Countrywide did little to explain the risks of some loans, including adjustable rate mortgages (ARMs). We heard, and contend in our suit, that Countrywide's intention was to move highly-lucrative ARMs and other types of loans in an effort to raise company profits.

The plaintiffs we named in the suit - which if approved by the court will represent all the state's residents with similar situations - tell of Countrywide misleading them by not providing documentation that accurately spelled out the terms, misleading them with assurances of inaccuracies regarding interest rates and all sorts of other skullduggery.

Want to see a statistic that made us do a double-take? A recent statement from Countrywide says that a typical borrower owes 20 percent more on their home than when the home loan started. How's that for a telling statistic.

For more on this case please visit our Web site and come back to this blog for updates.