Could a New Equity Empire Spark the Next Housing Crisis?

Alexander Reed Kelly / Truthdig Apr 10, 2014 Laura Gottesdiener talks with "Democracy Now!" about her TomDispatch article on the team-up of big banks and private equity firms to bundle rental property mortgages into a new financial product called "rental-backed securities." Dig deeper ( 1 Min. Read )

Bank of America to Pay $9.5 Billion Over Mortgage Bonds

Staff / Truthdig Mar 27, 2014 Dig deeper ( 1 Min. Read )

The Public-Private Profiteers

By Barbara Garson, TomDispatch Feb 6, 2014 In the cases of healthcare and underwater mortgages, the administration shied away from direct government aid. Instead, it subsidized private companies to serve the people. To get your government-subsidized mortgage modification, you applied at your bank; to get your government-mandated health coverage, you buy private insurance. Dig deeper ( 10 Min. Read )

1-in-5 American Homes ‘Deeply Underwater’

Alexander Reed Kelly / Truthdig Jan 9, 2014 RealtyTrac's U.S. Home Equity & Underwater report for 2013 shows 9.3 million homes were worth at least 25 percent less than the combined loans secured by each property. Dig deeper ( 1 Min. Read )

Overthrow the Speculators

Chris Hedges / Truthdig Dec 30, 2013 There will never be significant economic reform until megabanks are replaced by a network of state- and city-owned public banks. The revolution must be local. Dig deeper ( 6 Min. Read )

Is JPMorgan Chase About to Buy Its Way Out of Another Prosecution?

BLANK Oct 24, 2013 On the heels of an anticipated $13 billion fine to make its responsibility go away in the mortgage meltdown, the storied bank reportedly is in talks for a “deferred prosecution agreement” over its handling of some of Bernie Madoff’s Ponzi money. Short version: Pay a fine, and the bank avoids criminal charges. So in addition to being "too big to fail," now we have "too big to be guilty." Dig deeper ( 3 Min. Read )

JPMorgan Chase on Verge of $13 Billion Deal on Bad Mortgages

Alexander Reed Kelly / Truthdig Oct 20, 2013 The U.S. Justice Department and the mega-bank have struck a tentative $13 billion deal to settle investigations into bad mortgage loans JPMorgan sold to investors in the lead-up to the financial crisis, a person close to the talks said Saturday. Dig deeper ( 1 Min. Read )

A Repo Implosion

By Mike Whitney, CounterPunch Oct 13, 2013 Obama is determined to prevail in his battle with GOP leaders over the debt ceiling, but not for the reasons stated in the media. Dig deeper ( 7 Min. Read )

California City Votes to Seize Underwater Mortgages

BLANK Sep 12, 2013 Richmond plans to use eminent domain powers to seize bad mortgages and resell them at property value to new mortgage holders, helping its residents get out from under massive debt. Whether it will work is a big question mark. Dig deeper ( 3 Min. Read )

Poor Losing Homes Over Small Tax Liens to Private ‘Investors’

BLANK 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. Dig deeper ( 2 Min. Read )

Federal Cash to Help Homeowners Will Raze Properties Instead

BLANK 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. Dig deeper ( 2 Min. Read )

George W. Bush Hospitalized, Government Sues Bank of America, and More

Tracy Bloom / Truthdig Aug 7, 2013 A look at the day's political happenings, including the first charges filed in the deadly Benghazi terrorist attacks and a look at the donations of The Washington Post's new owner. Dig deeper ( 3 Min. Read )