Does Barney Frank’s New Book Let Democrats Off the Hook?
Apr 3, 2015 Truthdig Editor-in-Chief Robert Scheer confronts the former Massachusetts representative over President Clinton’s role in creating the Great Recession and other issues dividing progressives from the Democratic Party leadership.Truthdig Editor-in-Chief Robert Scheer confronts former Massachusetts Rep. Barney Frank over President Clinton’s role in creating the Great Recession and other issues dividing progressives from the Democratic Party leadership.
Big Banks Hit With Monster $250 Billion Lawsuit in Housing Crisis
Jul 17, 2014 In June, investors led by the world’s largest asset manager and the world’s largest bond-fund manager sued some of the world’s largest banks for breach of fiduciary duty as trustees of their investment funds. The investors are seeking damages for the equivalent of 1 million homeowners with $250,000 in damages suing at one time.
Foreclosure Filings Jump as Investors Eye Exits
Feb 15, 2014 It’s too bad Keynes isn’t around today to see how the toxic combo of financial engineering, central bank liquidity and fraud have transformed the world’s biggest economy into a hobbled, crisis-prone invalid that’s unable to grow without giant doses of zero-rate heroin and mega-leverage crack cocaine.
Elizabeth Warren’s New Bill Aims to Stop Employers Discriminating Against the Poor
Dec 18, 2013 Citing "basic fairness" as motivation for introducing a bill that would prevent employers from using credit reports as criteria when hiring a new employee, Warren, along with six other senators, is once again fighting battles for the disadvantaged. Meanwhile, Hillary Clinton is busy assuaging Wall Street's fears about populism.
Iraq Vet: Losing Home ‘Worse Than Getting Blown Up’
Nov 10, 2013 Twenty-six year National Guardsman Jerrod Hays lost nearly half his face to a roadside bomb in Iraq. Now, like too many other Americans, he could lose his home to banks.
Banks Suspected of Racial Bias in Housing Crisis Aftermath
Sep 28, 2013 Financial institutions handling foreclosures, especially Bank of America, have been accused of letting properties in minority neighborhoods deteriorate. The National Fair Housing Alliance collected evidence that the bank is maintaining foreclosed houses in predominantly white areas in far better conditions.
Poor Losing Homes Over Small Tax Liens to Private ‘Investors’
Sep 8, 2013 Low-income D.C. residents -- many of them retirees -- have been losing their homes under a program in which tax rights are sold to private investors who add mind-boggling fees and then foreclose when they aren't paid. And it's all legal.
Federal Cash to Help Homeowners Will Raze Properties Instead
Aug 21, 2013 Some $100 million in federal money aimed at keeping Michigan families in their homes will now be used to tear down emptied buildings.
The Landscape of Wall Street’s Creative Destruction
Aug 2, 2013 It’s May 2012 and we’re in Woodlawn, a largely African American neighborhood on the South Side of Chicago. The goal of the HIT Squad, short for Housing Identification and Target, is to map blighted, bank-owned homes with overdue property taxes and neighbors angry enough about the destruction of their neighborhood to consider supporting a plan to repossess on the repossessors.
Bank of America Lied to Homeowners and Rewarded Foreclosures, Ex-Employees Say
Jun 18, 2013 Bank of America employees regularly lied to homeowners seeking loan modifications, denied their applications for made-up reasons, and were rewarded for sending homeowners to foreclosure, according to sworn statements by former bank employees.
