GANGSTA GOV ATTEMPTS SHAKEDOWN OF GIANT MORTGAGE COMPANY, Quicken Loans…Owner Stands His GroundQuicken Loans owner, Dan Gilbert is one of the most beloved business owners in the state of MI. Their headquarters are located in the city of Detroit (where people in the suburbs don t typically travel unless they have to). Owner, Dan Gilbert gives back to the city of Detroit and to its residents in a huge way, not the least of which is employing over 7,000 people in their Detroit offices. In 2014, Fortune Magazine named Quicken Loans a  Top 5 Place To Work  for the 11th straight year. When asked what made Quicken Loans such a great place to work, Fortune gave this answer: America s largest online-lending company offers cash incentives to its staff to move to downtown Detroit. According to Salary.com, mortgage bankers in Southeast Michigan average $50,000 a year, but those at Quicken earn $113,000. None of that matters to a corrupt government however, who has a history of shaking down banks. This time however, the goons in our Justice Department may have targeted the wrong business owner.Detroit s own Quicken Loans is the latest target of the Justice Department s shakedown of the nation s lenders.Justice s goons have been systematically extorting protection money from big banks and mortgage lenders, under the threat of federal fraud lawsuits and prison time for their executives.The department s modus operandi would be worthy of racketeering charges if carried out by civilian mobsters.First, the Obama administration whips up a blame-the-banks fervor after the financial collapse. Then, armed with federal fraud statutes adopted after the savings and loan meltdown in the 1980s, it scours the transactions of lenders to find hints of irregularities. It extrapolates from the skimpiest evidence a pattern of widespread abuse, and if needed, frightens insiders into coughing up creative accusations against their employers.With its  proof  in hand, Justice presents institutions with a choice   pay a large and painful fine to make the investigation go away, or try their luck at a jury trial in an environment in which the words  bankers  and  baby killers  register about the same revulsion.The nation s six largest banks have all crumbled, choosing to pay $136 billion in fines and admit their  wrongdoing  rather than get their legs broken.Quicken, owned by Dan Gilbert, has decided not to cower, at least for the moment. Instead of paying protection money, it filed a lawsuit to stop a three-year investigation. Thursday, the government responded by filing charges against Quicken, accusing it of submitting ineligible mortgages for FHA insurance.In its complaint, Quicken says Justice demanded a multi-billion dollar settlement based on a sampling of just 55 of the 246,000 loans issued. Defects, according to the lawsuit, include miscalculating a borrower s income by $17 and lending another $26 too much. In those meager mistakes, Justice sees systemic fraud.Trace evidence is all the Obama administration requires to put banks on the rack. To cinch a settlement, Justice adds the threat of criminal charges against individual executives.Quicken s lawsuit accuses the government of  investigating and pressuring large, high-profile lenders into paying nine- and 10-figure sums and publicly admitting wrongdoing, including conceding that the lenders had made false claims.  That s an exellent summary of Justice s racket.Requiring a public admission of wrongdoing, instead of allowing institutions to settle without acknowledging guilt, as is common practice, leaves open the possibility of future criminal action against executives, assuring that they don t squawk publicly.Gilbert is a different cat than Justice has crossed on Wall Street. Detroit street tough, he doesn t take to being bullied. Of course, the government has a lot of pressure points it can mash. Gilbert is in the gaming business, a highly regulated industry, and the administration is not above targeting his casinos.But I hope he hangs in there. This government has gone gangster, and unless someone takes a stand, it won t be just the big bankers who get pinched.Via: Nolan Finley, Detroit NewsGovernment News
gangs gov attempts shakedown of giant mortgage company quicker stands his groundquicken loans owner dan gilbert one beloved business owners state mi their headquarters located city detroit people suburbs typically travel unless owner dan gilbert gives back city detroit residents huge way least employing people detroit offices in fortune magazine named quicker loans top place to work straight year when asked made quicker loans great place work fortune gave answer america largest company offers cash incentives staff move downtown detroit according mortgage bankers southeast michigan average year quicker earn none matters corrupt government however history shaking banks this time however goons justice department may targeted wrong business quicker loans latest target justice department shakedown nation goons systematically exporting protection money big banks mortgage lenders threat federal fraud lawsuits prison time department modus operandi would worthy racketeering charges carried civilian obama administration whips fervor financial collapse then armed federal fraud statutes adopted savings loan meltdown scouts transactions lenders find hints irregularities it extrapolates simplest evidence pattern widespread abuse needed fighters insiders coaching creative accusations proof hand justice presents institutions choice pay large painful fine make investigation go away try luck jury trial environment words bankers baby killers register nation six largest banks stumbled choosing pay billion fines admit wrongdoing rather get legs owned dan gilbert decided cover least moment instead paying protection money filed lawsuit stop investigation thursday government responded filing charges quicker accusing submitting ineligible mortgages sha complaint quicker says justice demanded dollar settlement based sampling loans issued defects according lawsuit include miscalculating borrower income lending another much in meager mistakes justice sees systemic evidence obama administration requires put banks rack to inch settlement justice adds threat criminal charges individual lawsuit accuses government investigating pressing large lenders paying sums publicly admitting wrongdoing including conceding lenders made false claims that excellent summary justice public admission wrongdoing instead allowing institutions settle without acknowledging guilt common practice leaves open possibility future criminal action executives assuring squad different cat justice crossed wall street detroit street tough take bullied of course government lot pressure points mash gilbert gaming business highly regulated industry administration targeting i hope hangs this government gone gangster unless someone takes stand big bankers get nolan finely detroit newsgovernment news
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: GANGSTA GOV ATTEMPTS SHAKEDOWN OF GIANT MORTGAGE COMPANY, Quicken Loans…Owner Stands His GroundQuicken Loans owner, Dan Gilbert is one of the most beloved business owners in the state of MI. Their headquarters are located in the city of Detroit (where people in the suburbs don t typically travel unless they have to). Owner, Dan Gilbert gives back to the city of Detroit and to its residents in a huge way, not the least of which is employing over 7,000 people in their Detroit offices. In 2014, Fortune Magazine named Quicken Loans a  Top 5 Place To Work  for the 11th straight year. When asked what made Quicken Loans such a great place to work, Fortune gave this answer: America s largest online-lending company offers cash incentives to its staff to move to downtown Detroit. According to Salary.com, mortgage bankers in Southeast Michigan average $50,000 a year, but those at Quicken earn $113,000. None of that matters to a corrupt government however, who has a history of shaking down banks. This time however, the goons in our Justice Department may have targeted the wrong business owner.Detroit s own Quicken Loans is the latest target of the Justice Department s shakedown of the nation s lenders.Justice s goons have been systematically extorting protection money from big banks and mortgage lenders, under the threat of federal fraud lawsuits and prison time for their executives.The department s modus operandi would be worthy of racketeering charges if carried out by civilian mobsters.First, the Obama administration whips up a blame-the-banks fervor after the financial collapse. Then, armed with federal fraud statutes adopted after the savings and loan meltdown in the 1980s, it scours the transactions of lenders to find hints of irregularities. It extrapolates from the skimpiest evidence a pattern of widespread abuse, and if needed, frightens insiders into coughing up creative accusations against their employers.With its  proof  in hand, Justice presents institutions with a choice   pay a large and painful fine to make the investigation go away, or try their luck at a jury trial in an environment in which the words  bankers  and  baby killers  register about the same revulsion.The nation s six largest banks have all crumbled, choosing to pay $136 billion in fines and admit their  wrongdoing  rather than get their legs broken.Quicken, owned by Dan Gilbert, has decided not to cower, at least for the moment. Instead of paying protection money, it filed a lawsuit to stop a three-year investigation. Thursday, the government responded by filing charges against Quicken, accusing it of submitting ineligible mortgages for FHA insurance.In its complaint, Quicken says Justice demanded a multi-billion dollar settlement based on a sampling of just 55 of the 246,000 loans issued. Defects, according to the lawsuit, include miscalculating a borrower s income by $17 and lending another $26 too much. In those meager mistakes, Justice sees systemic fraud.Trace evidence is all the Obama administration requires to put banks on the rack. To cinch a settlement, Justice adds the threat of criminal charges against individual executives.Quicken s lawsuit accuses the government of  investigating and pressuring large, high-profile lenders into paying nine- and 10-figure sums and publicly admitting wrongdoing, including conceding that the lenders had made false claims.  That s an exellent summary of Justice s racket.Requiring a public admission of wrongdoing, instead of allowing institutions to settle without acknowledging guilt, as is common practice, leaves open the possibility of future criminal action against executives, assuring that they don t squawk publicly.Gilbert is a different cat than Justice has crossed on Wall Street. Detroit street tough, he doesn t take to being bullied. Of course, the government has a lot of pressure points it can mash. Gilbert is in the gaming business, a highly regulated industry, and the administration is not above targeting his casinos.But I hope he hangs in there. This government has gone gangster, and unless someone takes a stand, it won t be just the big bankers who get pinched.Via: Nolan Finley, Detroit NewsGovernment News
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: gangs gov attempts shakedown of giant mortgage company quicker stands his groundquicken loans owner dan gilbert one beloved business owners state mi their headquarters located city detroit people suburbs typically travel unless owner dan gilbert gives back city detroit residents huge way least employing people detroit offices in fortune magazine named quicker loans top place to work straight year when asked made quicker loans great place work fortune gave answer america largest company offers cash incentives staff move downtown detroit according mortgage bankers southeast michigan average year quicker earn none matters corrupt government however history shaking banks this time however goons justice department may targeted wrong business quicker loans latest target justice department shakedown nation goons systematically exporting protection money big banks mortgage lenders threat federal fraud lawsuits prison time department modus operandi would worthy racketeering charges carried civilian obama administration whips fervor financial collapse then armed federal fraud statutes adopted savings loan meltdown scouts transactions lenders find hints irregularities it extrapolates simplest evidence pattern widespread abuse needed fighters insiders coaching creative accusations proof hand justice presents institutions choice pay large painful fine make investigation go away try luck jury trial environment words bankers baby killers register nation six largest banks stumbled choosing pay billion fines admit wrongdoing rather get legs owned dan gilbert decided cover least moment instead paying protection money filed lawsuit stop investigation thursday government responded filing charges quicker accusing submitting ineligible mortgages sha complaint quicker says justice demanded dollar settlement based sampling loans issued defects according lawsuit include miscalculating borrower income lending another much in meager mistakes justice sees systemic evidence obama administration requires put banks rack to inch settlement justice adds threat criminal charges individual lawsuit accuses government investigating pressing large lenders paying sums publicly admitting wrongdoing including conceding lenders made false claims that excellent summary justice public admission wrongdoing instead allowing institutions settle without acknowledging guilt common practice leaves open possibility future criminal action executives assuring squad different cat justice crossed wall street detroit street tough take bullied of course government lot pressure points mash gilbert gaming business highly regulated industry administration targeting i hope hangs this government gone gangster unless someone takes stand big bankers get nolan finely detroit newsgovernment news