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By Eugene Robinson
By Matt Miller
$16.50
$40
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By Amy Goodman — Shareholder meetings can be routine, unless you are Bank of America, in which case it may be declared an “extraordinary event.”
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AP / Saul Loeb
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By Robert Scheer — I get angry because betrayal by the “good guys” for whom I have ended up voting has become the norm.
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White House / Pete Souza
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By Amy Goodman — In his State of the Union address, many heard echoes of the Barack Obama of old, the presidential aspirant of 2007 and 2008.
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Bill Day, Cagle Cartoons —
Posted on Oct 8, 2011
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Flickr / Michael Gray (CC-BY-SA)
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Bank of America said Monday it will resume foreclosures in 23 states. The country’s largest bank stopped processing foreclosures nationwide while it investigated a mess of paperwork that cast doubt on the validity of home seizures. A self-imposed ban remains in 27 states.
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Flickr / respres
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Arriving a little late to the party, Bank of America has announced it is halting home foreclosure sales in all 50 states as it proceeds with a widening investigation of flaws in the process.
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Flickr / Philippe Put (CC-BY-ND)
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You know how financial institutions have a way of wielding fine print like a weapon? Well it turns out that when it comes to foreclosures, many of the nation’s lenders are either willfully ignoring procedure or are woefully incompetent at paperwork. Take your pick.
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Flickr / respres
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By Paul Kiel, ProPublica —
The administration set a goal of helping up to 4 million homeowners through the $75 billion mortgage modification program, but banks appear to have created unnecessary hurdles that, in some instances, violate the loan program’s rules.
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Flickr/respres
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The Obama administration is trying to pressure mortgage companies to move quicker in lowering payments for homeowners facing foreclosure. But many observers believe lenders are dragging their feet because they collect lucrative junk fees on the delinquent loans.
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willows-journal.com
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While $700 billion was given to the banks and credit institutions that haphazardly pushed forward our current economic fiasco, millions of homeowners at risk of foreclosure may now be given only about one-tenth of that figure—$75 billion—in an effort to slow the deterioration of the housing market.
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Flickr / respres
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After pumping hundreds of billions into the banking system with not much to show for it, Fed chief Ben Bernanke says he will try to reduce the number of foreclosures. As he put it to Rep. Barney Frank: “The goal of the policy is to avoid preventable foreclosures on residential mortgage assets that are held, owned or controlled by a Federal Reserve Bank.”
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AP photo / Reed Saxon
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The tanking economy is screwing over citizens both as homeowners and voters. The past two years have seen more than 1 million people lose their homes through foreclosure, and November’s election may see the same people also disqualified from voting due to election laws requiring official notification of voters’ new addresses.
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