The Hyper-Wealthy Own Us (Literally)

By: Thursday June 19, 2014 8:03 am

Last year eight Americans — the four Waltons of Walmart fame, the two Koch brothers, Bill Gates, and Warren Buffett — made more money than 3.6 million American minimum wage workers combined

 

Taxpayers To Help Pay JPMorgan’s Fine For Causing 2008 Financial Crisis

By: Wednesday October 23, 2013 6:46 am

Feeling generous? You should because you are about to help pay for JPMorgan’s $13 billion fine for causing the 2008 financial crisis. According to tax experts the money JPMorgan will be paying to the government ($9 billion) and to wronged customers ($4 billion) can be written off as a “business expense.” In other words, JPMorgan may be sticking the taxpayers with the bill.

JP Morgan To Pay $13 Billion For Causing 2008 Financial Crisis

By: Monday October 21, 2013 9:50 am

The previous fines Wall Street banks have paid have been laughable. But a $13 billion fine would be more than half of JPMorgan’s profit last year. Serious money. Though apparently JPMorgan thinks it might have to pay even more for its wrongdoing.

When the Mafia Has Better Customer Service Than You Do, You’ve Got a Problem

By: Saturday October 5, 2013 9:00 am

If the banks ran their operations more like the Mafia, the world might be a nicer place. As it is, though, the banks seem to have no problem with their foreclosure subcontractors breaking into the wrong home, or making a little extra on the side while they’re there.

But imagine how the Mafia would handle a situation like this . . .

FDL Book Salon Welcomes Robert Kuttner, Debtors’ Prison: The Politics of Austerity Versus Possibility

By: Saturday May 4, 2013 1:59 pm

Robert Kuttner’s Debtors’ Prison ties together many of the individual fights progressives are battling over into a general argument for why our economy is broken 5 years after the Great Recession began. There are those fighting both Republicans and some Democrats on topics ranging from austerity to foreclosure relief and financial sector accountability, while there are fellow activists in Europe fighting against the European Central Bank’s policy of tight money and anti-democratic takeovers of local policy.

Fraudclosure Settlement Checks Sent to Victims Bounce

By: Thursday April 18, 2013 6:52 am

Adding insult to injury, many of the checks sent out to victims from the fraudclosure settlement have bounced. The terms of the fraudclosure settlement are bad enough but now it seems the victims will have to wait a little longer after trying to deposit their meager, grossly insufficient check only to have it bounce.

FDL Book Salon Welcomes Greg Basta, Trouble Is The Banks: Letters To Wall Street

By: Saturday November 17, 2012 1:59 pm

A year ago this week, the original Occupy Wall Street camp in Zuccotti Park was evicted. The camps served as a focal point for a vibrant protest movement that shook up the country, but they galvanized the anger and fear of working people around the country, struggling to make it through the Great Recession.

The mainstream press often did its best to portray the movement as simply a bunch of unwashed kids without a message, without demands. Yet if one ever doubted that the movement’s message got through, the collection of letters in The Trouble is the Banks, from Occupy the Boardroom and n+1 serves as proof.

Illinois County Recorder Joins the Fight Against MERS for Fraud and Deception Regarding Property Transfer Fees

By: Wednesday May 23, 2012 5:27 pm

All I can say is it’s about damn time somebody in Illinois stepped up to the plate to hold banks accountable for their criminal activities! St. Clair County Recorder Mike Costello and State’s Attorney Brendan Kelly on May 21st filed a civil suit for fraud and deception against 22 banks for allegedly using MERS to “sidestep recording fees” and creating “a scheme to evade county fees and shield property transfer records from the public.” As State’s Attorney, Mr. Kelly works with and advises government at the county level, while the Attorney General provides the same services at the state level.

Foreclosure Horror Story: Woman, Daughter With Cerebral Palsy Evicted

By: Sunday April 15, 2012 7:40 am

This is about as outraged I’ve seen a straight news article get about the foreclosure crisis, with particular scorn reserved for Bank of America.

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