When Steven Mnuchin ran OneWest, the bank aggressively and, in some cases, wrongly foreclosed on elderly homeowners with reverse mortgages. The bank had a disproportionate share of such foreclosures.
“Real estate as a store of private wealth is the rotten tree that sprouts [the] diseased branches” of homelessness, unaffordable urban real estate, gentrification and dangerous housing bubbles, writes Jesse A. Meyerson at The Nation. “[T]he solution is to quit pruning twigs and chop the sucker down.”
One of the Obama administration’s “signature efforts to help homeowners” has “allowed big banks to run roughshod over borrowers again and again,” reports The New York Times.
In a discussion about former Massachusetts Rep. Barney Frank's new book, "Frank: A Life in Politics from the Great Society to Same-Sex Message," Truthdig Editor-in-Chief Robert Scheer confronts Frank over President Bill Clinton’s role in creating the Great Recession and other issues dividing progressives from the Democratic Party leadership. The interview was produced by Joshua Scheer and broadcast April 2 on KPFK.
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.
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.
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.
Shareholder meetings can be routine, unless you are Bank of America, in which case it may be declared an "extraordinary event."
In his State of the Union address, many heard echoes of the Barack Obama of old, the presidential aspirant of 2007 and 2008.