Foreclosure Crisis: Bankers and Forgiveness

bank behavior

Ann Robertson and Bill Leumer: Why is the government so intent on pursuing a double standard when it comes to enforcing the law on the 1 percent and on the rest of us?

Foreclosures 101 – Part 1

foreclosures soar

Kwazi Nkrumah: For years the banks, real estate agents and investors in real estate securities on Wall Street were making money hand-over-fist. They did all this while pretending to break from their previous established history of gross discrimination and red-lining against the disproportionately non-white borrowers whose limited financial resources forced them into “sub-prime” status in the first place.

The Foreclosure Crisis: Urgent as Ever and Could Get Worse

foreclosure sale

Carl Bloice: There are an estimated 3.5 million seriously delinquent mortgages out there. There were nearly 2.7 million foreclosure filings on about 1.9 million homes last year. That’s down from 2007, but it’s still about one out of every 69 homes in the country.

Holiday Pall: Joblessness Crisis Intensifies

black unemployment

Carl Bloice: The average period of unemployment now exceeds 26 weeks, well above the previous peak in July 1983 of just 21.2 weeks. This is critical because the longer that people of any age are out of work, the less likely they are to find another job.

Financial Crisis Prosecutions Too Hard?

wall street

Marian Wang: According to a now-departed Justice Department official who used to be in charge of investigating such matters, the Justice Department has decided that holding top Wall Street executives criminally accountable is too difficult a task.

Who Will Be the Un-Bloomberg? What Mayors Should Say About Wall Street

villaraigosa

Tom Hayden: In light of the police actions in New York, Berkeley, Oakland, Denver, Portland and beyond—and as massive national demonstrations are about to take place—it’s not too late for the mayors to use their political stature to speak out about the crises befalling their cities.

The Norquist Factor

grover norquist

Brent Budowsky: Pledges such as the Norquist pledge should be flat-out discarded, as a matter of policy and principle, by all legislators, to achieve a bipartisan agreement at a time of economic crisis.

Dysfunction in Congress a National Crisis

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Ray Smock: The current Congress has become largely dysfunctional because extreme partisanship and ideological differences are preventing the deliberative process from completing its most important function, which is to be one of the two governing branches of government.

Willful Deafness to Occupy Wall Street

occupy wall street arrest

Tina Dupuy: Politicians won’t take personal responsibility for the crisis – and so Occupy Wall Street has no choice but to be nonpartisan. Or just bipartisan in their frustration.

Can Republicans Cure the Jobs Crisis?

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Steve Hochstadt: Republicans believe that continuing high unemployment will bring Obama down, so they want to preserve what they feel is their winning card: a bad economy.

Jobs: A Grand Bargain

obama phoning

Brent Budowsky: Great presidents know the difference between empty public gimmicks and game-changing public policy. They demand creative ideas, not mediocrity or defeatism, from those who advise them.

Stop the Presses: The GOP Is Screwing Things Up! Who Knew?

grover norquist

H. Scott Prosterman: Public education is in crisis nationwide, as are 23 state governments and most municipal governments, as the Grover Norquist ideologues have assumed power and seeded the certain destruction of public education at all levels.

How Not To Talk About Financial Panics: New Rules For Pundits

economy-sinking

James Livingston: Never act like you know what will happen next. You don’t, and nobody else does either. In fact, nobody knows what just happened.

Slouching Toward a Double Dip, For No Good Reason

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Robert Reich: We are slouching toward a double dip because we’re getting the problem wrong. Despite what Standard & Poor’s says, notwithstanding what’s occurring in Europe, and regardless of U.S. budget projections years from now — our current crisis is jobs, wages, and growth. We do not now have a debt crisis.

Republican Double-Dip: What Must Be Done

bull market

Robert Reich: Now that we’re slouching toward a double-dip recession, the only hope is voters will tell their members of Congress to stop obsessing about future budget deficits and get to work on the real crisis of unemployment, falling wages, and no growth.

The Debt Ceiling Crisis: Let’s Get Personal

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Walter Brasch: Since you like hunting, and they like hunting, your banker friends will let you buy all the guns and ammunition you want. But, they can’t help you on your health bills, or even lower the insurance premiums and co-pays. And, they can’t do much for that inflated mortgage payment. Or to help you find another job.

Real Crises and Fake Ones

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Steve Hochstadt: Our economic disaster is not about national debt, but about national poverty. America cannot be a great country, if we do not alleviate the critical economic problems gripping our poorest families.

Don’t Fall for GOP “Budget Crisis” Lie

tea party trip

Robert Reich: Republicans are using what would otherwise be a routine, legally technical vote to raise the debt limit as a means of holding the nation hostage to their own political goal of shrinking the size of the federal government.

How Debt Ceiling Crisis Reelects Obama

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Tom Hall: The mainstream media has had little to say about Obama’s accomplishments. Why would they? The mainstream media is owned by, and serves, a handful of huge corporations in New York.

Vicious Cycles: Why Washington Is About to Make the Jobs Crisis Worse

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Robert Reich: The only way out of the vicious economic cycle is for government to adopt an expansionary fiscal policy — spending more in the short term in order to make up for the shortfall in consumer demand.

Jobs Crisis Is About People’s Lives, Not the Next Election

unemployed black youth

Carl Bloice: If one out of ten people seeking work can’t find any, it follows that the average person has a friend, relative or neighbor amongst them. All she or he has to do is look out the window or answer the phone to be scared.

Lost Decade?

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John Peeler: One of the most striking features of our current global economic morass is that many Third World economies are weathering the crisis rather well, while the supposed leaders of the world economy (the United States, the European Union, the Japanese) are in deep trouble that looks to get deeper.

This Jobs Crisis Is Obama’s Kryptonite

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David Love: Obama can solve this whole thing tomorrow if he just calls for a new New Deal program already. But will he have the courage? Time will tell, but the President, like this sad nation, is short on time.

On Wisconsin: End the War, Invest at Home

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Tom Hayden: It is time for our most prominent liberal economists to broaden their analysis of the domestic crisis to include spending for these unfunded wars. Only Joseph Stiglitz has done so.

Greece: Epicenter of the Debt Earthquake?

Papandreou and Obama

Steven Hill: One of the qualities holding Greece back from enjoying the benefits of a more modern economy is its reliance on an informal economy of family and social networks which too often translates into nepotism, back room deals and tax dodging. But during an economic crisis like this, those networks become valuable

Who Is Behind the Deficit Crisis

tax breaks

Shamus Cooke: Unless labor and community groups massively mobilize working people in fighting for a pro-worker solution to the deficit crisis, austerity measures — like reducing Social Security and Medicare — will be forced upon us.

Ahead of Congressional Hearings, Robo-Signer Scrutiny Spreads

bryan bly depostion

Marian Wang: Several recent reports about robo-signers have brought fresh attention to another angle of the foreclosure scandal: Robo-signing didn’t just occur in the foreclosure process. It also occurred in the processing of mortgage assignments.

Fueling Flames of Dissent Around Illegal Immigration: If Colin Powell Can’t Call It, Nobody Can

Anthony Samad: Colin Powell called on his party to break out of its anti-immigration bag and provide some policy solutions to a difference kind of crisis in our country. But he didn’t know exactly what those solutions would be.

The Jobs Emergency

camp foreclosure

Robert Reich: We need a response proportional to the crisis. Obama, Pelosi, and Reed should summon Congress back to Washington for action on the jobs emergency.

The Drop Out Rate for Black Students in California: A Crisis

hardy-brown

he Department of Education released their new definition of a “Drop Out” and the tracking system that will have cost us taxpayers over $33 million dollars when complete. The new system requires each student to be assigned a special number that follows them throughout their school life. This is necessary in order to know when [...]

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