The bank foreclosure settlement that was intended to speed relief to homeowners is having some problems. Probably not a surprise to those already screwed over by the Big Banks.
Sen. Elizabeth Warren embarrassed government regulators during a Senate Banking Committee hearing on Thursday morning as she demanded to know why they won’t reveal how frequently big banks illegally foreclosed on homeowners.
There is a new report out this morning once again reminding us of the greatest disappointment progressives have in the Obama administration: the lack of toughness in regards to Wall Street. <a href="http://www.campaignforfairsettlement.org/obama_legacy_threatened" target="_hplink">The report</a>, issued by the Campaign for a Fair Settlement (full disclosure: this is a coalition I have helped in various ways since their founding), is probably the most harshly critical analysis yet by a coalition aligned with traditional progressive Democratic groups. The report opens with this damning list of hard to dispute facts, and then just goes on from there.