Don't Cry For Justice
Securities attorney Jonathan Kord Lagemann starts off today's Forbes.com Investor Team discussion with a harsh accusation against the securities industry. His clients are not investing, he says, because they know that if they need to go to arbitration they stand virtually no chance of recovering any of their losses, even if there's fraud or mismanagement involved... Seventy-one percent of customers in arbitration reported that they weren't satisfied with the outcome, and 65% believed the process was unfair. Fifty percent think they'd have gotten a different result if they had gone to court rather than arbitration, and of those who had taken separate cases to court rather than to arbitration, 76% said arbitrations were either very or somewhat unfair.

Home Builders Fearful Of Arizona ' Lemon Law ' For Buyers
Proposition 201, a so-called "lemon law" for home buyers... Supporters say the initiative protects buyers from sloppy construction and gives them recourse to remedy defects. The proposal, introduced and supported by unions and some community advocacy groups, provides "much-needed protection for people who buy new homes," said Linda Brown , executive director of the Arizona Advocacy Network Foundation, a supporter. "There ' s been very little oversight or checks for the home building industry because it ' s been the economic engine for the state...It ' s been the Wild West for them." Prop 201

Genesis of “Affordable” Homeownership at What Price?
Policies Mr. Cisneros authorized while at HUD shaped the agenda of an unchecked industry that encouraged builders to carelessly throw up shoddily constructed homes overnight in the name of “affordable” housing... Forgotten was the lack of respect for those who were to live in these homes...The sad part is that Cisneros carried the water for some of the worst giants of the industry, giants like Countrywide and KB Homes. He facilitated federal policies that became the bread and butter of the building industry; a market made up of young first-time homebuyers and families that could not afford homes that were venerable to the deceptions of predatory lending... Overcompensated greedy CEO ' s and the building industry are the sole beneficiaries of the failed policies of Henry Cisneros. In his zeal, Cisneros forgot the little guy. See: New York Times Article -  Building Flawed American Dreams

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Genesis of “Affordable” Homeownership at What Price?
Policies Mr. Cisneros authorized while at HUD shaped the agenda of an unchecked industry that encouraged builders to carelessly throw up shoddily constructed homes overnight in the name of “affordable” housing... Forgotten was the lack of respect for those who were to live in these homes...The sad part is that Cisneros carried the water for some of the worst giants of the industry, giants like Countrywide and KB Homes. He facilitated federal policies that became the bread and butter of the building industry; a market made up of young first-time homebuyers and families that could not afford homes that were venerable to the deceptions of predatory lending... Overcompensated greedy CEO ' s and the building industry are the sole beneficiaries of the failed policies of Henry Cisneros. In his zeal, Cisneros forgot the little guy. See: New York Times Article -  Building Flawed American Dreams

Area foreclosures continue to rise
Himant Pandit bought his house two years ago, and has been and has been frustrated by the drop in his home's value. He said many of his neighbors have lost their homes to foreclosure. Pandit said he has seen six foreclosures on his street in the last three months. He lives in a KB Home subdivision where he purchased his 3,200 square foot home two years ago for $385,000.

As many as 34,000 Southern Nevada homeowners with Kitec plumbing could be affected
A tentative settlement has been reached in a class action lawsuit regarding defective plumbing that affects as many as 34,000 Southern Nevada homeowners. The agreement, which is scheduled for judicial approval Thursday, would provide $90 million to repair damages caused when Kitec plumbing fixtures rupture...Class action attorneys Harrison, Kemp, Jones & Coulthard reached an earlier deal with builder Richmond American Homes, which agreed to replumb 1,251 homes it built. About $4.5 million is earmarked for those homeowners.

Both District 34 candidates received money from Perry-supported political action committees
Bob Perry is the biggest campaign contributor in the country. And he's used to getting his way. Perry spend over $15 million to elect Republicans and millions more on lobbyists to protect his financial interests. Connie Scott took over $9,000 from Texans for Lawsuit Reform, the organization that Perry helped build with his own money. What does he want in return? The fact is, Connie Scott and her husband, Mike, have been scratching Bob Perry's back for years. Mike serves on the Statewide Committee of TLR, Perry's organization that gave money to his wife in the first place.9 Mike, working with TLR, and Connie, working with Bay Area Citizens Against Lawsuit Abuse, helped pass a law that stripped homebuyers of their rights

Henry Cisneros: Fannie and Freddie won’t need Treasury’s help
Henry Cisneros, former Housing and Urban Development Secretary under President Bill Clinton, flat-out tells our viewers the taxpayer should not– and will not– be on the hook for propping up Fannie Mae and Freddie Mac, the two mortgage giants with major government connections. See FOX News  interview: Henry Cisneros…we have not only the strongest homeownership but the Best Quality of housing in the world.

Houston Homebuilder Bob Perry Continues Reign as King of Dirty Politics
Defending his title as “King of Dirty Politics,” Houston homebuilder Bob Perry just bankrolled a racist ad attacking Democratic candidate Joel Redmond, who is battling Republican Ken Legler for an open House seat representing the Pasadena area...“Bob Perry previously has disavowed responsibility for the trash he buys,” said Texans for Public Justice Director Craig McDonald. “It’s time Bob Perry took personal responsibility for the hate-mongering, gay-bashing, and race-bating he sponsors."

Karatz is back
The former CEO of KB Home had disappeared from public view after being forced out of the company in an accounting scandal. But after settling government charges of illegally backdating stock options worth $6 million, Karatz has surfaced. He's quoted a couple of times in Sunday's NYT story about his ties to Henry Cisneros, who was on the board of both KB and Countrywide. The two companies worked closely in coordinating sales and lending, a connection that generated huge revenues at the height of the boom. Actually, Cisneros, Karatz and Countrywide CEO Angelo Mozilo might be described as a sort of unholy trinity.