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.

Robo-Signing Is Just the Tip of the Iceberg

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*+-Ellen Brown: The evidence to date suggests that “robo-signing” was not a mere technical default or sloppy business practice but was part and parcel of a much larger fraud, the fraud that brought down the whole economy in 2008.

Ex-Marine Fights Freddie Mac to Save His Home

de los santos family

*+-Peter Dreier: recent report sponsored by bank reform groups reveals that if banks lowered the principal balance on all underwater mortgages to their current market value, it would pump over $70 billion per year back into the economy.

The Way to Occupy a Bank Is to Own One

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*+-Ellen Brown: The campaign to “move your money” has gotten a groundswell of support. Having greater impact would be to “move our money” — move our local government revenues out of Wall Street banks into our own publicly-owned banks.