Meet the major banks’ newest partner: payday lenders, the owners of those check cashing stores that offer short-term loans with interest rates that sometimes exceed 500 percent.
Those critics of Occupy Wall Street who claimed the movement lacked direction might look to foreclosed homes around the country, as well as housing auctions at select banks, where activists turned up Tuesday as part of the Occupy Our Homes initiative.
Like an abused spouse, America continues to stand by the banks, hoping they’ll change their ways. TARP funds were supposed to trickle down to the average taxpayer, but Congress is now investigating complaints that bailed-out banks such as Bank of America and Citigroup are jacking up interest rates and engaging in predatory lending.
Who knew that “community organizing” and “ACORN” would become two of the most mischaracterized and maligned terms during this election season? Well, as a few key members point out in this must-see clip from Brave New Films, ACORN had some idea this might be coming.