News Headline

TARP expected to cost U.S. only $25 billion, CBO says

OurFuture.org Staff — Tue, 30 Nov 2010 12:45:17 -0500

The Troubled Assets Relief Program, which was widely reviled as a $700 billion bailout for Wall Street titans, is now expected to cost the federal government a mere $25 billion - the equivalent of less than six months of emergency jobless benefits.

A new report released Monday by the nonpartisan Congressional Budget Office found that the cost of TARP has plummeted since its passage in October 2008, when policymakers thought that the world stood on the brink of an economic meltdown.

If GOP wins, Expect More Obstruction

OurFuture.org Staff — Tue, 19 Oct 2010 16:14:34 -0400

I'm cautious about the conventional wisdom that the Democratic Party is about to get flattened by a Republican steamroller. Pollsters are less certain than they'd like you to believe about who's a "likely voter" and who isn't. It's easy to imagine how Democrats, facing near-unanimous predictions of a wipeout, could bestir themselves to narrow the enthusiasm gap by just enough to turn a potential "wave" election into a regular midterm setback for the party in power.

Bank of America to restart foreclosures in 23 states

OurFuture.org Staff — Tue, 19 Oct 2010 15:29:35 -0400

Just 10 days after announcing a nationwide halt to foreclosure sales, Bank of America, the nation's largest bank, said Monday that it would begin resubmitting paperwork on Oct. 25 to restart foreclosures on borrowers who missed their payments in 23 states. If judges approve the new filings, the bank expects that the sales of foreclosed properties will start up once again in the states where a court order is needed to foreclose on a home.

Banks Restart Foreclosures

OurFuture.org Staff — Tue, 19 Oct 2010 15:26:45 -0400

Bank of America Corp. reopened more than 100,000 foreclosure actions, declaring that it had found no significant problems in its procedures for seizing homes. GMAC Mortgage, a lender and loan servicer, said that it also is pushing ahead with an unspecified number of foreclosures that came under intense pressure.