Now that the presidential tickets are set, it’s time for the candidates to get specific about problems and solutions critical to our economic recovery and future prosperity. Along with job creation, they should start with Home Opportunity—the cluster of housing, homeownership, and fair lending issues that are so central to the American promise of opportunity for all. more »
rooflines.org — As the Republican presidential candidates debate the moral legitimacy of venture capital strategies, and the Occupy movement continues to challenge evictions, we have an important opportunity to elevate the foreclosure crisis and what must be done to address it.
Rumor has it that the 50 state attorney general investigation into the Fraudclosure scandal is wrapping up. It's time for a backbone check. Will the state attorneys general just ask the big banks and service providers to turn over a chunk of change from seemingly bottomless pockets? (This strategy was pursued by the Security and Exchange Commission (SEC) with little impact). more »
There are plenty of reasons why the foreclosure fraud crisis sweeping the nation's housing market is an economic disaster. Banks are charging borrowers illegal fees, kicking the wrong people out of their homes and even hiring thugs to illegally break into houses. more »
If senior White House adviser David Axelrod’s comments this weekend are any indication, the Obama administration is woefully misreading the foreclosure fraud crisis currently gripping the U.S. economy. more »
I'll have plenty to say about the escalating foreclosure fraud scandal later this week. For now: This is a big, big deal. It isn't a clerical error, it's an aggressive attempt to slap borrowers with thousands of dollars in illegal fees for the luxury of being foreclosed on. more »
calculatedriskblog.com — Nearly one in four homes with mortgages are under water as of 4th quarter of 2009. In Nevada, a staggering 70% of all mortgaged properties are under water. No wonder Harry Reid is in trouble. They've got to blame someone.
The roots of the mortgage crisis, and its devastating effects on communities, are explored by Andrew Cockburn, who co-produced with his wife, Leslie, the documentary "American Casino." The documentary details the fraudulent and unethical practices committed by the nation's top financial institutions that have led to record numbers of foreclosures, especially in people of color communities. more »
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The U.S. Chamber of Commerce announced yesterday that it would “develop a sweeping national advocacy campaign … to defend and advance America’s free enterprise values in the face of rapid government growth and attacks by anti-business activists.” The Chamber doesn’t get it. They aren’t defending capitalism and free enterprise. They are all but destroying it.
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