Hotel Chains Credit Cards Hacked

Not the first case for hotel chains not protecting guest records.

FromHotelManagement: A U.S. appeals court said the Federal Trade Commission has authority to regulate corporate cyber security, and may pursue a lawsuit accusing hotel operator Wyndham Worldwide Corp of failing to properly safeguard consumers’ information.

The 3-0 decision by the 3rd U.S. Circuit Court of Appeals in Philadelphia on Monday upheld an April 2014 lower court ruling allowing the case to go forward. The FTC wants to hold Wyndham accountable for three breaches in 2008 and 2009 in which hackers broke into its computer system and stole credit card and other details from more than 619,000 consumers, leading to over $10.6 million in fraudulent charges.

The FTC originally sued Wyndham in 2012 over the lack of security that led to its massive hack. But before the case proceeded, Wyndham appealed to a higher court to dismiss it, arguing that the FTC didn’t have the authority to punish the hotel chain for its breach. The third circuit court’s new decision spells out that Wyndham’s breach is exactly the sort of “unfair or deceptive business practice” the FTC is empowered to stop, reports Wired.

BusinessInsider: In August, Visa alerted numerous financial institutions of a breach. Five different banks determined the commonality between the cards included in that alert was that they were used at Hilton properties — including Embassy Suites, Doubletree, Hampton Inn and Suites, and the upscale Waldorf Astoria Hotels & Resorts, Krebs reports.

Hilton Hotels investigates customer credit card security hack

FNC: Hilton Hotels announced that it is looking into a possible security breach that occurred at gift shops, restaurants, bars, and other stores located on Hilton owned properties across the U.S.

According to cyber-security expert Brian Krebs, Visa sent confidential alerts to several financial institutions warning of a security breach at various retail locations earlier this year from April 21 to July 27. While the alerts named individual card numbers that had allegedly been compromised, per Visa’s policy, the notifications did not name the breached retail location. But sources at five different banks have now determined that the hacks all had one thing in common–they occurred at Hilton property point-of-sale registers.

Currently, the breach does not appear to have comprised the guest reservation systems at the associated properties. The company released the following statement regarding the incident:

“Hilton Worldwide is strongly committed to protecting our customers’ credit card information. We have many systems in place and work with some of the top experts in the field to address data security.  Unfortunately the possibility of fraudulent credit card activity is all too common for every company in today’s marketplace.  We take any potential issue very seriously, and we are looking into this matter.”

The breach includes other Hilton brand name properties including Embassy Suites, Doubletree, Hampton Inn and Suites, and Waldorf Astoria Hotels & Resorts. The hotel group is advising customers who may have made purchases at Hilton properties during the time indicated to carefully scan bank records for any unusual activity and contact their bank immediately.

According to USA Today, evidence from the investigation indicates that the hack may have affected credit card transactions as far back as Nov. 2014 and security breaches could possibly be ongoing.

Union Corruption Runs Far and Wide

For a listing of union members corruption, investigations and indictments, go here.

For a chilling read of an 84 page report on union corruption and how cases play into the RICO Act, go here.  There is a long history of criminal activity and it is an enterprise that still occurs and grows.

Report: Government Unions Take from the Poor to Give to the Rich

FreeBeacon: The government employees who now make up a majority of the nation’s union members are a far cry from the blue-collar archetype of old, according to a new report.

The Competitive Enterprise Institute will release a report on Tuesday morning documenting the changing nature of unionism in America, as white-collar professionals in the public sector overtake the private sector working class as the face of unionism.

“Public sector unions may claim they stand up for the little guy, but generally they aren’t representing blue collar workers against a better-educated, white-collar management,” said Carrie Sheffield, a scholar at the institute, in a release. “Government unions represent skilled, white-collar workers who enjoy big benefits and job security, courtesy of the taxpayer.”

Government workers are more likely to work behind a desk and enjoy civil service protections than the manufacturing workers who stood at the forefront of the labor movement at the start of the 20th century, according to the report. A majority of them have college educations.

“A larger share of public sector than private sector workers are employed in “management, professional, and related occupations.” In 2013, 56.2 percent of public sector workers and 37.8 percent of private sector workers were employed in these occupations,” the report says. “As the percentage of public sector union members increased between 1971 and 2004, the fraction of union members in the top third of the nation’s income distribution increased by 24 percent, while the proportion of unionists in the bottom third of the distribution declined by 45 percent. This is because better-educated and more affluent workers are more likely to belong to public rather than private sector unions.”

Sheffield said that these paychecks and costs have grown rapidly—retired New York City cops, the report notes, now outnumber active duty ones—in recent years and have the effect of pitting taxpayers, including the working class, against well-paid civil servants.

Pension debt and other unfunded compensation for government workers have led to several major municipal bankruptcies. Detroit, for example, declared bankruptcy when it was unable to meet nearly $20 billion in debt, about half of which was attributed to worker retirement benefits.

“Unfortunately for taxpayers, government unions donate huge amounts to elected officials who then vote on those expanding benefit packages—much to the detriment of cities like Detroit and Stockton, California, and states like Illinois and New Jersey that are on the brink of fiscal insolvency,” Sheffield said in a release.

The shift has created incentives to grow government and spur political involvement from public servants. The current system allows government unions to pump millions of dollars to candidates, who become the agents that the unions negotiate with at the bargaining table.

Sheffield recounts how early private sector union boosters were skeptical of government unions. President Franklin Delano Roosevelt, a champion of organized labor, once said that “Collective bargaining, as usually understood, cannot be transplanted into the public service.”

The institute says that lawmakers should enact reforms akin to that of Gov. Scott Walker in Wisconsin to return to the balance outlined by Roosevelt. Walker was able to become the first sitting governor to survive a recall vote by highlighting the high costs associated with union-negotiated benefits and its effect on his state’s working class. Sheffield said that lawmakers should do the same.

“Government unions are a powerful interest group that is uniquely privileged in being funded by taxpayers. Their members generally have higher levels of education than the average private sector worker, and enjoy greater compensation and job security. David taking on Goliath they are certainly not,” the report says.

Putin Was Specific at the United Nations

While Putin is in New York back in Syria:

Washington (AFP) – NATO General Philip Breedlove expressed concern Monday about the strength of Russia’s military build-up in northwestern Syria and the apparent creation of a defensive “bubble” in the Mediterranean.

The supreme allied commander in Europe for the 28-member military alliance said Russia had sent advanced weaponry beyond what is needed to fight the Islamic State group — meaning the hardware is to protect Syrian President Bashar al-Assad.

“We see some very sophisticated air defenses going into these airfields. We see some very sophisticated air-to-air aircraft going into these airfields,” Breedlove told an audience at the German Marshall Fund in Washington.

“I have not seen (the Islamic State) flying any airplanes that require sophisticated air-to-air capabilities.”

The Pentagon says Russia has sent at least 500 troops, along with fighter jets, artillery units, tanks and other military hardware to an airbase in the Latakia region on Syria’s Mediterranean coast.

Breedlove suggested the weaponry included SA15 and SA22 surface-to-air missile defense systems, used to take down enemy planes.

Like it or not, Vladmir Putin spoke in detail yet when it came to the sovereignty of other nations, there is some real hypocrisy in his words and actions. Having written that, once you read his words below, you are invited to comment. Putin has not spoken at the United Nations in ten years.

Several other items need to be mentioned with regard to Russia. On Monday afternoon, Barack Obama finished a climate change seminar at the United Nations and to later meet with Vladimir Putin. It must be noted, that Obama has no intentions on meeting with al Sisi of Egypt when Egypt is sounding a clarion call of action in the Sinai versus Islamic State.

There is a real break down between Poland and Russia and once again the White House is not standing with an ally.

Barack Obama announced a $5 billion ‘counterterrorism fund’ in 2014.

The new fund, if Congress goes along, would be added to the administration’s Pentagon budget request for the upcoming fiscal year, inside what’s known as the Overseas Contingency Operations fund. (That’s the cash that’s supposed to be used to help fight America’s wars, and is not considered part of the Defense Department’s core budget.) Experts and former officials warned that unless the administration comes to Congress with detailed plans of how the money will be spent and why those tasks can’t be completed inside the Pentagon’s already-huge budget, lawmakers are not likely to sign off on the idea. The total lack of administration outreach to Congress so far is not a good start.

At West Point, Obama said he was “calling on Congress to support a new Counter-Terrorism Partnerships Fund of up to $5 billion, which will allow us to train, build capacity, and facilitate partner countries on the front lines”—from Yemen to Libya to Syria to Mali.

Lawmakers were surprised when the president said he needed them to help start the new fund, considering the administration had given them no warning and no details of the plan to spend the $5 billion they were being asked to disburse. Leaders of committees that will have to appropriate the money, in both chambers and on both sides of the aisle, told The Daily Beast there had been no briefings or consultations about the fund before its announcement. More from DailyBeast.

It could be that the Obama ‘counterterrorism partnership fund was a complete bust and a fleecing of taxpayers. As you read through Putin’s speech, he is calling for a partnership as well.

Putin is well aware that the United States has not rudder with regard to any international policy except for offering the United Nations more troops and providing additional aide to the refugee crisis. Beyond that, Obama defers to Putin, Iran and Russia.

Putin’s United Nations General Assembly speech, comments invited.

WashingtonPost:

Russian President Vladimir Putin addressed the U.N. General Assembly on Monday and said the West was making an “enormous mistake” by not cooperating with Syrian President Bashar al-Assad in the fight against the Islamic State militant group. Here is the full text of his remarks.

PUTIN (THROUGH INTERPRETER): Your excellency Mr. President, your excellency Mr. Secretary General, distinguished heads of state and government, ladies and gentlemen, the 70th anniversary of the United Nations is a good occasion to both take stock of history and talk about our common future.

In 1945, the countries that defeated Nazism joined their efforts to lay solid foundations for the postwar world order.

But I remind you that the key decisions on the principles guiding the cooperation among states, as well as on the establishment of the United Nations, were made in our country, in Yalta, at the meeting of the anti-Hitler coalition leaders.

The Yalta system was actually born in travail. It was won at the cost of tens of millions of lives and two world wars.

This swept through the planet in the 20th century.

Let us be fair. It helped humanity through turbulent, at times dramatic, events of the last seven decades. It saved the world from large-scale upheavals.

The United Nations is unique in its legitimacy, representation and universality. It is true that lately the U.N. has been widely criticized for supposedly not being efficient enough, and for the fact that the decision-making on fundamental issues stalls due to insurmountable differences, first of all, among the members of the Security Council.

However, I’d like to point out there have always been differences in the U.N. throughout all these 70 years of existence. The veto right has always been exercised by the United States, the United Kingdom, France, China, the Soviet Union and Russia later, alike. It is absolutely natural for so diverse and representative an organization.

When the U.N. was established, its founders did not in the least think that there would always be unanimity. The mission of the organization is to seek and reach compromises, and its strength comes from taking different views and opinions into consideration. Decisions debated within the U.N. are either taken as resolutions or not. As diplomats say, they either pass or do not pass.

Whatever actions any state might take bypassing this procedure are illegitimate. They run counter to the charter and defy international law. We all know that after the end of the Cold War — everyone is aware of that — a single center of domination emerged in the world, and then those who found themselves at the top of the pyramid were tempted to think that if they were strong and exceptional, they knew better and they did not have to reckon with the U.N., which, instead of [acting to] automatically authorize and legitimize the necessary decisions, often creates obstacles or, in other words, stands in the way.

It has now become commonplace to see that in its original form, it has become obsolete and completed its historical mission. Of course, the world is changing and the U.N. must be consistent with this natural transformation. Russia stands ready to work together with its partners on the basis of full consensus, but we consider the attempts to undermine the legitimacy of the United Nations as extremely dangerous. They could lead to a collapse of the entire architecture of international organizations, and then indeed there would be no other rules left but the rule of force.

We would get a world dominated by selfishness rather than collective work, a world increasingly characterized by dictate rather than equality. There would be less of a chain of democracy and freedom, and that would be a world where true independent states would be replaced by an ever-growing number of de facto protectorates and externally controlled territories.

What is the state sovereignty, after all, that has been mentioned by our colleagues here? It is basically about freedom and the right to choose freely one’s own future for every person, nation and state. By the way, dear colleagues, the same holds true of the question of the so-called legitimacy of state authority. One should not play with or manipulate words.

Every term in international law and international affairs should be clear, transparent and have uniformly understood criteria. We are all different, and we should respect that. No one has to conform to a single development model that someone has once and for all recognized as the only right one. We should all remember what our past has taught us.

We also remember certain episodes from the history of the Soviet Union. Social experiments for export, attempts to push for changes within other countries based on ideological preferences, often led to tragic consequences and to degradation rather than progress.

It seemed, however, that far from learning from others’ mistakes, everyone just keeps repeating them, and so the export of revolutions, this time of so-called democratic ones, continues. It would suffice to look at the situation in the Middle East and North Africa, as has been mentioned by previous speakers. Certainly political and social problems in this region have been piling up for a long time, and people there wish for changes naturally.

But how did it actually turn out? Rather than bringing about reforms, an aggressive foreign interference has resulted in a brazen destruction of national institutions and the lifestyle itself. Instead of the triumph of democracy and progress, we got violence, poverty and social disaster. Nobody cares a bit about human rights, including the right to life.

I cannot help asking those who have caused the situation, do you realize now what you’ve done? But I am afraid no one is going to answer that. Indeed, policies based on self-conceit and belief in one’s exceptionality and impunity have never been abandoned.

It is now obvious that the power vacuum created in some countries of the Middle East and North Africa through the emergence of anarchy areas,  which immediately started to be filled with extremists and terrorists.

Tens of thousands of militants are fighting under the banners of the so-called Islamic State. Its ranks include former Iraqi servicemen who were thrown out into the street after the invasion of Iraq in 2003. Many recruits also come from Libya, a country whose statehood was destroyed as a result of a gross violation of the U.N. Security Council Resolution 1973. And now, the ranks of radicals are being joined by the members of the so-called moderate Syrian opposition supported by the Western countries.

First, they are armed and trained and then they defect to the so-called Islamic State. Besides, the Islamic State itself did not just come from nowhere. It was also initially forged as a tool against undesirable secular regimes.

Having established a foothold in Iraq and Syria, the Islamic State has begun actively expanding to other regions. It is seeking dominance in the Islamic world. And not only there, and its plans go further than that. The situation is more than dangerous.

In these circumstances, it is hypocritical and irresponsible to make loud declarations about the threat of international terrorism while turning a blind eye to the channels of financing and supporting terrorists, including the process of trafficking and illicit trade in oil and arms. It would be equally irresponsible to try to manipulate extremist groups and place them at one’s service in order to achieve one’s own political goals in the hope of later dealing with them or, in other words, liquidating them.

To those who do so, I would like to say — dear sirs, no doubt you are dealing with rough and cruel people, but they’re in no way primitive or silly. They are just as clever as you are, and you never know who is manipulating whom. And the recent data on arms transferred to this most moderate opposition is the best proof of it.

We believe that any attempts to play games with terrorists, let alone to arm them, are not just short-sighted, but fire hazardous (ph). This may result in the global terrorist threat increasing dramatically and engulfing new regions, especially given that Islamic State camps train militants from many countries, including the European countries.

Unfortunately, dear colleagues, I have to put it frankly: Russia is not an exception. We cannot allow these criminals who already tasted blood to return back home and continue their evil doings. No one wants this to happen, does he?

Russia has always been consistently fighting against terrorism in all its forms. Today, we provide military and technical assistance both to Iraq and Syria and many other countries of the region who are fighting terrorist groups.

We think it is an enormous mistake to refuse to cooperate with the Syrian government and its armed forces, who are valiantly fighting terrorism face to face. We should finally acknowledge that no one but President Assad’s armed forces and Kurds (ph) militias are truly fighting the Islamic State and other terrorist organizations in Syria.

We know about all the problems and contradictions in the region, but which were (ph) based on the reality.

Dear colleagues, I must note that such an honest and frank approach of Russia has been recently used as a pretext to accuse it of its growing ambitions, as if those who say it have no ambitions at all.

However, it’s not about Russia’s ambitions, dear colleagues, but about the recognition of the fact that we can no longer tolerate the current state of affairs in the world. What we actually propose is to be guided by common values and common interests, rather than ambitions.

On the basis of international law, we must join efforts to address the problems that all of us are facing and create a genuinely broad international coalition against terrorism.

Similar to the anti-Hitler coalition, it could unite a broad range of forces that are resolutely resisting those who, just like the Nazis, sow evil and hatred of humankind. And, naturally, the Muslim countries are to play a key role in the coalition, even more so because the Islamic State does not only pose a direct threat to them, but also desecrates one of the greatest world religions by its bloody crimes.

The ideologists (ph) of militants make a mockery of Islam and pervert its true humanistic (ph) values. I would like to address Muslim spiritual leaders, as well. Your authority and your guidance are of great importance right now.

It is essential to prevent people recruited by militants from making hasty decisions and those who have already been deceived, and who, due to various circumstances found themselves among terrorists, need help in finding a way back to normal life, laying down arms, and putting an end to fratricide.

Russia will shortly convene, as the (ph) current president of the Security Council, a ministerial meeting to carry out a comprehensive analysis of threats in the Middle East.

First of all, we propose discussing whether it is possible to agree on a resolution aimed at coordinating the actions of all the forces that confront the Islamic State and other terrorist organizations. Once again, this coordination should be based on the principles of the U.N. Charter.

We hope that the international community will be able to develop a comprehensive strategy of political stabilization, as well as social and economic recovery, of the Middle East.

Then, dear friends, there would be no need for new refugee camps. Today, the flow of people who were forced to leave their homeland has literally engulfed first neighboring countries and then Europe itself. There were hundreds of thousands of them now, and there might be millions before long. In fact, it is a new great and tragic migration of peoples, and it is a harsh lesson for all of us, including Europe.

I would like to stress refugees undoubtedly need our compassion and support. However, the — on the way to solve this problem at a fundamental level is to restore their statehood where it has been destroyed, to strengthen the government institutions where they still exist or are being reestablished, to provide comprehensive assistance of military, economic and material nature to countries in a difficult situation. And certainly, to those people who, despite all the ordeals, will not abandon their homes. Literally, any assistance to sovereign states can and must be offered rather than imposed exclusively and solely in accordance with the U.N. Charter.

In other words, everything in this field that has been done or will be done pursuant to the norms of international law must be supported by our organization. Everything that contravenes the U.N. Charter must be rejected. Above all, I believe it is of the utmost importance to help restore government’s institutions in Libya, support the new government of Iraq and provide comprehensive assistance to the legitimate government of Syria.

Dear colleagues, ensuring peace and regional and global stability remains the key objective of the international community with the U.N. at its helm. We believe this means creating a space of equal and indivisible security, which is not for the select few but for everyone. Yet, it is a challenge and complicated and time-consuming task, but there is simply no other alternative. However, the bloc thinking of the times of the Cold War and the desire to explore new geopolitical areas is still present among some of our colleagues.

First, they continue their policy of expanding NATO. What for? If the Warsaw Bloc stopped its existence, the Soviet Union have collapsed (ph) and, nevertheless, the NATO continues expanding as well as its military infrastructure. Then they offered the poor Soviet countries a false choice: either to be with the West or with the East. Sooner or later, this logic of confrontation was bound to spark off a grave geopolitical crisis. This is exactly what happened in Ukraine, where the discontent of population with the current authorities was used and the military coup was orchestrated from outside — that triggered a civil war as a result.

We’re confident that only through full and faithful implementation of the Minsk agreements of February 12th, 2015, can we put an end to the bloodshed and find a way out of the deadlock. Ukraine’s territorial integrity cannot be ensured by threat of force and force of arms. What is needed is a genuine consideration for the interests and rights of the people in the Donbas region and respect for their choice. There is a need to coordinate with them as provided for by the Minsk agreements, the key elements of the country’s political structure. These steps will guarantee that Ukraine will develop as a civilized society, as an essential link and building a common space of security and economic cooperation, both in Europe and in Eurasia.

Ladies and gentlemen, I have mentioned these common space of economic cooperation on purpose. Not long ago, it seemed that in the economic sphere, with its objective market loss, we would launch a leaf (ph) without dividing lines. We would build on transparent and jointly formulated rules, including the WTO principles, stipulating the freedom of trade, and investment and open competition.

Nevertheless, today, unilateral sanctions circumventing the U.N. Charter have become commonplace, in addition to pursuing political objectives. The sanctions serve as a means of eliminating competitors.

I would like to point out another sign of a growing economic selfishness. Some countries [have] chosen to create closed economic associations, with the establishment being negotiated behind the scenes, in secret from those countries’ own citizens, the general public, business community and from other countries.

Other states whose interests may be affected are not informed of anything, either. It seems that we are about to be faced with an accomplished fact that the rules of the game have been changed in favor of a narrow group of the privileged, with the WTO having no say. This could unbalance the trade system completely and disintegrate the global economic space.

These issues affect the interest of all states and influence the future of the world economy as a whole. That is why we propose discussing them within the U.N. WTO NGO (ph) ’20.

Contrary to the policy of exclusiveness, Russia proposes harmonizing original economic projects. I refer to the so-called integration of integrations based on universal and transparent rules of international trade. As an example, I would like to cite our plans to interconnect the Eurasian economic union, and China’s initiative of the Silk Road economic belt.

We still believe that harmonizing the integration processes within the Eurasian Economic Union and the European Union is highly promising.

Ladies and gentlemen, the issues that affect the future of all people include the challenge of global climate change. It is in our interest to make the U.N. Climate Change Conference to be held in December in Paris a success.

As part of our national contribution, we plan to reduce by 2030 the greenhouse emissions to 70, 75 percent of the 1990 level.

I suggest, however, we should take a wider view on this issue. Yes, we might defuse the problem for a while, by setting quotas on harmful emissions or by taking other measures that are nothing but tactical. But we will not solve it that way. We need a completely different approach.

We have to focus on introducing fundamental and new technologies inspired by nature, which would not damage the environment, but would be in harmony with it. Also, that would allow us to restore the balance upset by biosphere and technosphere (ph) upset by human activities.

It is indeed a challenge of planetary scope, but I’m confident that humankind has intellectual potential to address it. We need to join our efforts. I refer, first of all, to the states that have a solid research basis and have made significant advances in fundamental science.

We propose convening a special forum under the U.N. auspices for a comprehensive consideration of the issues related to the depletion of natural resources, destruction of habitat and climate change.

Russia would be ready to co-sponsor such a forum.

Ladies and gentlemen, colleagues, it was on the 10th of January, 1946, in London that the U.N. General Assembly gathered for its first session.

Mr. Suleta (ph) (inaudible), a Colombian diplomat and the chairman of the Preparatory Commission, opened the session by giving, I believe, a concise definition of the basic principles that the U.N. should follow in its activities, which are free will, defiance of scheming and trickery and spirit of cooperation.

Today, his words sound as a guidance for all of us. Russia believes in the huge potential of the United Nations, which should help us avoid a new global confrontation and engage in strategic cooperation. Together with other countries, we will consistently work towards strengthening the central coordinating role of the U.N. I’m confident that by working together, we will make the world stable and safe, as well as provide conditions for the development of all states and nations.

Thank you.

(APPLAUSE)

END

Trump Blew it on his Proposed Tax Plan

Pile more taxes on the wealthy and allow those below a certain level to never pay anything. We have that now. What is new? Not too much and no mention of the more proven plan called ‘Fair Tax’.

TownHall in part:

Trump’s plan for an overhaul of the U.S. tax code would eliminate federal income taxes on individuals earning less than $25,000 and married couples earning less than $50,000. He said those individuals would receive “a new one page form to send the IRS saying, ‘I win.'”

Trump’s plan would also disproportionally benefit wealthy earners by lowering the highest income tax rate from 39.6 percent to 25 percent, and businesses by cutting their tax rate — from major corporations to mom-and-pop shops — to no more than 15 percent.

Trump said his plan would also bring in new sources of revenue to the Treasury by allowing corporations to bring money held in overseas accounts back to the United States after paying a one-time tax of 10 percent. He would also prevent companies from deferring taxes paid on income earned abroad.

In sum, he says, the changes he wants to enact would not add to the annual federal budget deficit or the national debt.

“We have an amazing code,” Trump said of his tax system. “It will be simple. It will be easy. It will be fair.”

Trump said the plan had been crafted with the help of leading economists, but refused to say who they are during his news conference. He also said his plan didn’t suit any particular political agenda, describing it as a “common sense approach.”

Trump to Call for Higher Taxes on the Wealthy

WSJ via MSN:

Donald Trump is set to release a tax plan Monday that calls for major reductions in levies on middle-income and poor payers, while increasing taxes on the wealthy and reining in companies that pay less in taxes by moving their headquarters overseas.

The plan will offer a “major tax reduction for almost all citizens” and help stimulate business in the U.S. again, the Republican candidate’s campaign said Sunday.

The GOP presidential front-runner is also expected to call for the poorest filers to pay no federal taxes at all while also recommending that corporate levies be reduced.

In an interview set to air on CBS’s “60 Minutes” Sunday night, Mr. Trump shrugged off questions as to how he would pay for the tax plan and what kind of Republican presidential candidate would recommend that the wealthy pay more to the government.

“Some very wealthy are going to be raised. Some people that are getting unfair deductions are going to be raised,” Mr. Trump told CBS anchor Scott Pelley about his tax plan, according to a transcript. “But overall it’s going to be a tremendous incentive to grow the economy and we’re going to take in the same or more money.”

The tax plan will be the second policy platform released by Mr. Trump in the more than three months since he declared his candidacy. He released a six-page paper outlining his hard-line stance on immigration last month.

The tax plan comes at an uncertain time for Mr. Trump as his summer status as the Republican front-runner could be fading with the arrival of fall. The businessman has led rounds of national public polls and drawn massive crowds to his campaign rallies, but his support has shown some signs of softening as other outsider candidates gain steam.

A Wall Street Journal/NBC News poll released Sunday showed Mr. Trump is still the race’s front-runner with 21% of GOP primary voters saying he is their top pick, but he’s now virtually tied with Ben Carson, with 20% of those surveyed favoring the retired neurosurgeon. In the prior Journal/NBC News poll, Mr. Carson had only 10% of support compared with Mr. Trump’s 19%.

On Saturday, Mr. Trump came in fifth in a straw poll of social conservatives surveyed by the Family Research Council at the conclusion of its Values Voter Summit in Washington. He trailed Texas Sen. Ted Cruz, Mr. Carson, former Arkansas Gov. Mike Huckabee and Florida Sen. Marco Rubio.

Of the 1,151 summit participants who voted in the straw poll, 56 chose Mr. Trump for president, with 20 respondents saying he would make a good vice president.

Mr. Trump brought a Bible on stage with him during his Friday appearance at the summit and his address was full, but the businessman was booed when he called Mr. Rubio a “clown” at the event.

Mr. Trump is slated to hold a private meeting with evangelical Christian leaders at Trump Towers in Manhattan Monday afternoon. An invitation said the meeting would be capped at 30 people, but about 45 religious leaders have said they plan to attend the hourlong session, according to a person familiar with its planning.

Participants will come from churches across the country, and many are African-American pastors, the person said.

During the “60 Minutes” segment, Mr. Pelley repeatedly tried to press Mr. Trump to be more detailed with his policies and the two men went back and forth several times.

Regarding his plan to repeal the Affordable Care Act, Mr. Trump said he would be able to extend health insurance universally in the U.S. by making “a deal with existing hospitals to take care of people.” Coverage would be private, he said.

“They can have their doctors, they can have plans, they can have everything,” Mr. Trump said about his health plan.

Mr. Trump said that the North American Free Trade Agreement should be ended regardless of breaking a standing international deal. He said he would support sending ground troops to Iraq to fight Islamic State, but would seek less involvement in Syria, believing that Islamic State and the Assad regime would turn on each other and then the U.S. would “pick up the remnants.”

When asked how he would get along with Congress to get his plans passed, Mr. Trump said his leadership style would pave the way.

“I’ve gotten along with politicians my whole life. I’ve made a fortune on politicians. Nobody knows politicians better than I do. I get along with politicians,” Mr. Trump said.

In discussing his personal life, Mr. Trump said his life’s greatest hardship was the loss of his brother, Fred, to alcohol abuse. Mr. Trump said it motivated his decision to not drink.

“I’ve never had a drink. I own the largest winery on the east coast and yet I don’t drink which is a little weird,” Mr. Trump said.

Mr. Trump didn’t shy away from the image that he is a narcissist. When asked about magazine covers featuring the businessman that line the walls of his office at Trump Towers, he quipped: “it’s cheaper than wallpaper.”

Remember that Mortgage Crisis in 2009? Part Deux

Primer:

Obama extended this program through December 2015.

The Making Home Affordable Program is a critical part of the Obama administration’s efforts to provide relief to families at risk of foreclosure and help the housing market recover from the housing crisis, HUD explained.

“The housing market is gaining steam, but many homeowners are still struggling,” said Treasury Secretary Jacob Lew.

He added, “Helping responsible homeowners avoid foreclosure is part of our wide-ranging efforts to strengthen the middle class, and Making Home Affordable offers homeowners some of the deepest and most dependable assistance available to prevent foreclosure. Extending the program for two years will benefit many additional families while maintaining clear standards and accountability for an important part of the mortgage industry.”

Now the real truth of more toxic mortgages. A must read in full detail by clicking here.

Hedge funds get cheap homes, homeowners get the boot

PublicIntegrity: Julius Uwansc was in trouble with his mortgage after refinancing in 2009, just after the real estate bubble popped. Like millions of others, he found himself owing more on his house than it was worth.

The Nigerian-born father of four moved into his house on Richardson Road in Gwynn Oak, Maryland, in 2005. “We loved it because it has this big yard where the kids can play,” Uwansc says.

But soon after closing on the loan, Uwansc began having trouble making payments. He believed he had worked out a loan modification with Bank of America in 2011 after signing paperwork, but the bank disputed the terms Uwansc thought he had secured. When he didn’t pay the amount the bank said he owed, it claimed he was in default.

Uwansc’s mortgage was insured by the Federal Housing Administration, meaning if he failed to make payments, the bank would typically be paid the full value of what was left of the mortgage, plus costs associated with servicing the debt.

Bank of America filed for a claim and received payment. The mortgage was then transferred to the Department of Housing and Urban Development, which oversees the FHA.

Normally at this point, instead of taking over the mortgage, HUD regulations would require the bank to work with the borrower during a pre-foreclosure stage. If there’s no way to keep the homeowner in the home, HUD shepherds the property through the foreclosure process.

But not in this case.

The program

In 2010, HUD launched the mortgage sales program — now known as the Distressed Asset Stabilization Program, or DASP — under intense pressure from Congress to improve its finances. HUD can’t reduce the principal owed on mortgages it holds for homeowners, but it can sell the mortgages in bulk to investors at a steep discount — at times as little as 41 percent of the mortgages’ collective value.

The agency, through the FHA, insures loans to lower-income and first-time homebuyers. During the 2008 financial crisis and subsequent recession, many of those homeowners fell behind on their mortgage payments and foreclosures loomed.

Meanwhile, the FHA, due to an onslaught of claims, was desperately in need of a funding infusion.

The DASP program has a dual purpose: to lessen the impact of FHA insurance claims on defaulted mortgages on HUD’s finances, and according to a statement in April by Genger Charles, then the acting commissioner of HUD’s Office of Housing, to provide borrowers “a second chance at avoiding foreclosure.” Through DASP, lenders cash in on an FHA insurance claim on mortgages that are at least six months delinquent and HUD takes ownership of the mortgages. HUD then sells those mortgages to the highest bidder in bulk auctions.

Over 98,000 loans have been funneled through the DASP system since it began in 2010, with mortgages amounting to more than $16.7 billion in total debt.

The sales have helped the FHA insurance fund become solvent. According to an analysis of HUD’s sales results by the Center for Public Integrity, buyers have paid HUD $11.2 billion over the course of these auctions. The fund currently holds $4.8 billion, after being $16 billion in the red two years ago.

But when it comes to helping homeowners avoid foreclosure, the results are unimpressive. The program, it was hoped, would help homeowners because the investors who bought the loans were expected to offer better terms to borrowers.  As part of the initiative, HUD included a stipulation that buyers must wait six months (it has since been bumped up to a full year) to foreclose to allow borrowers a chance to work with their new creditors.

“Once we sell [the mortgage] for something less than the principal balance,” explains HUD spokesperson Brian Sullivan, the lender “has more room to work with the homeowner.”

But the new owners of these mortgages are more likely to flip the homes for a profit or take advantage of the booming rental market, say some advocates. The transactions may make good financial sense, but they can leave struggling homeowners like Julius Uwansc in the dark, and in some cases on the streets.

“The investors are there to make money,” says Diane Cippolone, a mortgage servicing consultant to the National Fair Housing Alliance, a nonprofit organization. “They are not there to do neighborhood revitalization or neighborhood stabilization.

Depending on secrecy

FHA loans by law offer extra protections against foreclosure. In order to obtain that FHA insurance, a loan servicer, the company that collects payments and administers the loan, must make a series of efforts to modify loan terms to help owners keep their homes.

A lender can file a claim and turn the loan over to HUD for sale only when all these efforts have failed. The loans in DASP, according to HUD spokesman Sullivan, “are all headed to foreclosure — 100 percent of them — because they’ve exhausted their loss-mitigation options.”

But legal advocates and several borrowers say they have seen otherwise. The original lender reports that they’ve taken all the necessary steps, and HUD essentially takes their word for it, says the NCLC’s Geoff Walsh. “We’re hearing from a lot of homeowners that were still involved in loss mitigation,” he says, and could avoid foreclosure through normal FHA pathways.

Uwansc says he had no idea his mortgage was up for sale. Walsh says, “The program depends on secrecy. The program depends on the homeowner not knowing that their loan is being sold.”