STATE OF CALIFORNIA vs U.S. BANK | L.A. City Attorney Calls US Bank ‘Slumlord’ Bank Says ‘You Got the Wrong Guy’
Watch More News Videos at ABC2012 Presidential ElectionEntertainment & Celebrity News L.A. City Attorney Calls US Bank ‘Slumlord’ “This case concerns defendant U.S. Bank National Association, a national bank that has become one of the largest slumlords in the City of Los Angeles.” So begins a lawsuit brought by the L.A. city attorney’s office. The … Read more
Bloomberg Law | Can Cities Use Eminent Domain To Seize Mortgage Loans? (VIDEO)
July 19 (Bloomberg Law) — Almost 24% of homes with a mortgage in the United States are underwater, meaning that more is owed on the loan than the property is currently worth. A new company known as Mortgage Resolution Partners is proposing to work with municipal governments to use eminent domain to seize underwater mortgage … Read more
LIBOR Lies Defraud Billions, Yes; but Essential ‘Bank’ Fraud Costs 99% Trillions
LIBOR lies defraud billions, yes; but essential ‘bank’ fraud costs 99% trillions Here are three stories to understand about criminal US economics: LIBOR criminal fraud that costs US local government agencies billions. Essential bank fraud that private corporations have authority to issue credit/loans to maximize their own profit rather than debt-free money and public at-cost … Read more
U.S. Banks Haunted by Mortgage Demons That Won’t Go Away
U.S. banks haunted by mortgage demons that won’t go away * Banks say Freddie Mac and Fannie Mae getting more aggressive * Bank of America faces biggest possible losses July 19 (Reuters) – Lenders like Bank of America Corp and Wells Fargo & Co say they are facing mounting pressure to buy back bad mortgages … Read more
America in Denial | We’re Number 29 (of 30)
America in denial: We’re number 29 (of 30) US embraces policies and practices that place it at the bottom of advanced industrial nations for social outcomes. Responding to the jingoism around the First Gulf War, Andrew Shapiro’s 1992 book, We’re Number One!: Where America Stands – and Falls – in the New World Order was … Read more
Ireland Bulldozes Ghost Estate in Life After Real Estate Bubble
Ireland Bulldozes Ghost Estate in Life After Real Estate Bubble Ireland is opting for bulldozers rather than bankers as it starts to clear the legacy of the housing boom whose collapse brought the economy to its knees. About 1,850 housing developments, unfinished after the bubble burst in 2008, pockmark the Irish landscape, according to government … Read more
Financial Services Industry Threatens Retaliation at Municipalities Who Use Eminent Domain to Fix the Housing Crisis
Financial Services Industry Threatens Retaliation at Municipalities Who Use Eminent Domain to Fix the Housing Crisis The financial industry is taking another run at a plan to help homeowners, this time the proposed program in San Bernardino County that would use eminent domain laws to acquire underwater mortgages and then refinance them for borrowers at … Read more
“I Just Want To Apologize In Advance That I Don’t Have Enough Subpoenas For All Of You…” (VIDEO)
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Failing to Break Up the Big Banks is Destroying America
Failing to Break Up the Big Banks is Destroying America The Size of the Big Banks Is – Literally – Destroying the Rule of Law Pulitzer prize-winning journalist Ron Suskind quotes Treasury Secretary Timothy Geithner as saying: The confidence in the system is so fragile still… a disclosure of a fraud… could result in a … Read more
