Housing Crisis

The Other 98% Urges Wall Street To Donate Bonuses To Financial Crisis Victims
The Other 98% Urges Wall Street Execs to Donate $91 Billion in Bonuses to Victims of Financial Crisis. Read more...
GOP Congressman: White Collar Crime On Wall Street Doesn't Exist
I absolutely love it when Republicans come up with solid reasons to vote them out of office as soon as possible all on their own, and having it on video...priceless. Read more...
The results of Tuesday's U.S. Department of Housing and Urban Development national study on the persistence of housing discrimination are unlikely to shock: Racial and ethnic minorities continue to find themselves locked out of many housing opportunities. Read more...
Occupiers, allies and community members from across the country came together in front of the DOJ to demand that Attorney General Eric Holder arrest the bankers responsible for upending the international economy through the housing crisis. Read more...
The Kellers are caught up in a little-known horror of the U.S. housing bust: the zombie title. Six years in, thousands of homeowners are finding themselves legally liable for houses they didn't know they still owned after banks decided it wasn't worth their while to complete foreclosures on them. With impunity, banks have been walking away from foreclosures much the way some homeowners walked away from their mortgages when the housing market first crashed. Read more...

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There is a headline in the Washington Post on Sunday that completely summarizes the Republicans' fondest dreams as well as the expectations of the DC establishment's conventional wisdom: "Debt Crisis Expected to Define Obama's Second Term". In Read more...
I can't believe the administration - especially Tim Geithner - is still trying to excuse their ineptitude on the housing crisis. I mean, we've read the books from administration insiders like Sheila Bair and Neal Barofsky since they've left, and Read more...
Federal prosecutors hit Bank of America with a $1 billion lawsuit Wedesday, accusing the bank of mortgage fraud that contributed to the housing crisis. Bank of America became entangled in the scheme -- known as “High-Speed Swim Lane” or “Hustle” -- when it purchased Countrywide Financial in July 2008, just as the economy was slipping into recession. Countrywide, a mortgage lending giant, was already known for approving risky loans when it introduced its “Hustle” program to churn out more loans, effectively eliminating a system that ensured the mortgages were being made to buyers who could afford them. A top U.S. attorney said the bank’s fraud was “spectacularly brazen in scope.” Read more...
Selling a home can be a difficult, stressful process, even now after the nation's largest banks have paid billions to settle claims of robosigning, and foreclosing on homes without properly vetting the paperwork. Now imagine going through Read more...
From this Saturday's The Journal Editorial Report on Fox, the panel from Uncle Rupert's Wall Street Journal really doesn't like the idea of several counties in California using "eminent domain to seize underwater mortgages from investors and Read more...