Land of the Free | The Best Investigative Reporting on U.S. Prisons

Land of the Free: the Best Investigative Reporting on U.S. Prisons by Cora Currier ProPublica The U.S. has the highest incarceration rate in the world. We’ve rounded up some of the best investigative journalism on U.S. prisons and the problems that plague them. These stories cover juvenile justice, private prisons, immigration detention and other aspects … Read more

Man Kills Himself in Courtroom After Arson Conviction on His Home that was Facing Imminent Foreclosure

(Warning: Footage of Marin beginning to convulse is included and could be considered disturbing) ~ Prosecutors said Marin couldn’t afford the monthly mortgage of $17,500 and had a balloon payment of $2.3 million coming due. ~ Man sips liquid, kills himself in court after arson conviction A man collapsed in court and died after being … Read more

SENATE, No. 1566 | New Jersey Passes Residential Foreclosure Transformation Act to Reuse Vacant Foreclosures

New Jersey Passes Bill to Reuse Vacant Foreclosures The New Jersey state Senate narrowly passed a bill Monday giving the state the ability to buy vacant, previously foreclosed homes and resell or rent them out. State Sen. Raymond Lesniak, D-Union, introduced the New Jersey Residential Foreclosure Termination Act in February. The bill forms the New … Read more

Bank of America Sanctioned $300,000 in Woman’s Mortgage Fraudclosure Case (VIDEO)

~ Tweet

Fannie Mae Freddie Mac to Sell Foreclosed Homes in Bulk to Hedge Funds

Word on the street is you have to have a net worth of $10,000,000 just to get in the game… You can read more about that here… ~ Tweet

Police State | SWAT Team Breaks Down Door, Throws Flashbangs, Raids Wrong Home

SWAT team throws flashbangs, raids wrong home due to open WiFi network The long-standing, heavily documented militarization of even small-town American police forces was always going to create problems when it met anonymous Internet threats. And so it has, again—this time in Evansville, Indiana, where officers acted on some Topix postings threatening violence against local … Read more

Quelle Surprise! Fed Economists Side Firmly With Bank Criminality Over the Rule of Law

Quelle Surprise! Fed Economists Side Firmly With Bank Criminality Over the Rule of Law Although Dave Dayen and Abigail Field have already given a well-deserved shellacking to a remarkable piece of bank PR masquerading as “insight” at Reuters, “Evidence suggests anti-foreclosure laws may backfire,” it merits longer-form treatment as a crude macedoine of anti-homeowner messaging. … Read more

Abigail Field | Evidence Surfaces Reuters Will Publish Propaganda As News

Evidence Surfaces Reuters Will Publish Propaganda As News Normally I’m a fan of Reuters, it has backed some terrific reporting on the banks’ fraudulent foreclosure documents and I respect many of its reporters. But this piece: “Insight: Evidence Surfaces Anti-Foreclosure Laws May Backfire” is pure banking industry and Federal Reserve propaganda. The goal of the … Read more

Reuters | Insight – Evidence Suggests Anti-Foreclosure Laws May Backfire

Insight: Evidence suggests anti-foreclosure laws may backfire (Reuters) – State and federal laws enacted to protect homeowners from eviction in the wake of the 2008 housing crash may be extending the slump, according to a growing number of economists and industry experts. Foreclosures have all but ground to a halt in Nevada, which passed one … Read more

Where Food Stamps Go to Die

Where Food Stamps Go to Die Nothing exemplifies the ghetto status of the U.S. economy more than the success of Wal-Mart in the face of the ongoing destruction of what was once a vibrant and strong middle class. In case you missed it, Marion Nestle, Professor in the Department of Nutrition, Food Studies, and Public … Read more

JPMorgan Trading Loss May Reach $9 Billion

JPMorgan Trading Loss May Reach $9 Billion Losses on JPMorgan Chase’s bungled trade could total as much as $9 billion, far exceeding earlier public estimates, according to people who have been briefed on the situation. When Jamie Dimon, the bank’s chief executive, announced in May that the bank had lost $2 billion in a bet … Read more

OCC Annual Survey of Banks’ Credit Underwriting Practices Shows that Underwriting Standards Remained Largely Unchanged

OCC Survey Showed Banks’ Underwriting Standards Largely Unchanged WASHINGTON — The Office of the Comptroller of the Currency’s 18th Annual Survey of Credit Underwriting Practices, released today, shows that underwriting standards remained largely unchanged from last year, although some easing was noted in select commercial and retail products. Banks continued to react to changing economic … Read more