New York Paralegal Blog

WASHINGTON – As oil and gas companies make tens of billions in profits and the government scours the budget for savings, President Obama called on Congress to stop handing them $4 billion annually in taxpayer subsidies. America’s oil production last year reached its highest level since 2003, but we need to invest in the energy of the future, instead of subsidizing the energy of the past. Remarks of President Barack Obama Weekly Address Saturday, April 30, 2011 Washington, DC After the worst recession since the Great Depression, our economy is growing again, and we’ve gained almost 2 million private sector jobs over the last 13 months. But I also know that a lot of folks aren’t feeling as positive as some of those statistics might suggest. It’s still too hard to find a job. And even if you have a job, chances are you’re having a tougher time paying the rising costs of everything from groceries to gas. In some places, gas is now more than $4 a gallon, meaning that you could be pay...

NEW YORK, NY (August 15, 2008) - Attorney General Andrew M. Cuomo today announced another agreement to provide liquidity to consumers who purchased auction rate securities. Under the latest agreement, Wachovia Securities, LLC and Wachovia Capital Markets, LLC (collectively, “Wachovia”) will return over $8.5 billion to investors across New York State and the nation. The agreement settles allegations that Wachovia made misrepresentations in its marketing and sales of auction rate securities. Wachovia marketed and sold auction rate securities as safe, cash-equivalent products, when in fact they faced increasing liquidity risk. Within the past eight days, Cuomo has signed agreements restoring nearly $35 billion of liquidity to thousands of investors nationwide. Under Cuomo’s settlement, Wachovia has agreed to buy back, no later than November 28, 2008, all illiquid auction rate securities from all Wachovia retail customers, charities, and small businesses. Wachovia will also pay damages to ...