Program for Struggling Homeowners Just a Ploy to Enrich Big Banks
Treasury Makes Shocking Admission
By Zach Carter
The Treasury Dept.'s mortgage relief program isn't just failing, it's actively funneling money from homeowners to bankers, and Treasury likes it that way.
http://www.informationclearinghouse.info/article26251.htm
Corporate America, it's Time to Spread the Wealth
By Michael Hiltzik
Businesses are sitting on a record hoard of cash, but they're not using it to hire workers or pay existing ones better wages. Broadly distributing the fruits of economic growth is the only way to sustain that growth.
http://www.informationclearinghouse.info/article26250.htm
28% of Ga. mortgages underwater
11 million, or 23 percent, of all residential properties with mortgages in the United States were in negative equity at the end of the second quarter.
http://www.bizjournals.com/atlanta/stories/2010/08/23/daily38.html?surround=lfn
One in 10 with a mortgage face foreclosure
One in 10 American households with a mortgage was at risk of foreclosure this summer as the government's efforts to help have had little impact stemming the housing crisis.
http://www.usatoday.com/money/economy/housing/2010-08-26-mortgages-foreclosure_N.htm
Rich no more: 700,000 wealthy people wiped out by the credit crunch
It also highlights how hard the recession has hit the value of savings and investments, which may take decades to recover their value.
http://www.dailymail.co.uk/news/article-1306144/700-000-wealthy-people-wiped-credit-crunch.html
Desperate homeowners line up for mortgage modification marathon
Before dawn, with a plump white moon overhead, a line of desperate homeowners trailed around the outside of the building. They slept in beach chairs or on blankets on the ground, refugees from a bad economy, bad loans, or bad decisions.
http://www.palmbeachpost.com/money/real-estate/desperate-homeowners-line-up-for-mortgage-modification-marathon-882338.html
From Information Clearing House
--------
Chase Bank and Obama's "Make Home Affordable" Scam
http://www.commondreams.org/view/2010/08/26-0
--------
Will financial crimes perps ever face justice?
Our Future Blog
by Mary Bottari
08/26/10
Some will rob you with a six gun and some with a fountain pen — Woody Guthrie. Like mushrooms popping up in a damp basement, a slew of court settlements have been registered recently involving the big banks and their role in the financial crisis. An informal review of settlements over the last two years reveals about 16 multi-million dollar payouts from the big banks amounting to some $1.6 billion in fines and restitution and $13 billion in buybacks of auction-rate securities that were represented to be as safe as cash. Sounds impressive, doesn’t it? But when fines are stacked up against an elite white-collar crime spree worth trillions, it is a little less impressive...
http://tinyurl.com/38y8qqu
Informant: Thomas L. Knapp
http://sharenews.twoday.net/search?q=Obama
http://sharenews.twoday.net/search?q=recession
http://sharenews.twoday.net/search?q=recovery
http://sharenews.twoday.net/search?q=Treasury
http://sharenews.twoday.net/search?q=corporate+America
http://sharenews.twoday.net/search?q=Big+Banks
http://freepage.twoday.net/search?q=credit+crunch
http://sharenews.twoday.net/search?q=mortgage
http://sharenews.twoday.net/search?q=foreclosure
http://sharenews.twoday.net/search?q=housing
http://sharenews.twoday.net/search?q=homeowner
http://sharenews.twoday.net/search?q=Zach+Carter
http://sharenews.twoday.net/search?q=Michael+Hiltzik
http://freepage.twoday.net/search?q=Mary+Bottari
By Zach Carter
The Treasury Dept.'s mortgage relief program isn't just failing, it's actively funneling money from homeowners to bankers, and Treasury likes it that way.
http://www.informationclearinghouse.info/article26251.htm
Corporate America, it's Time to Spread the Wealth
By Michael Hiltzik
Businesses are sitting on a record hoard of cash, but they're not using it to hire workers or pay existing ones better wages. Broadly distributing the fruits of economic growth is the only way to sustain that growth.
http://www.informationclearinghouse.info/article26250.htm
28% of Ga. mortgages underwater
11 million, or 23 percent, of all residential properties with mortgages in the United States were in negative equity at the end of the second quarter.
http://www.bizjournals.com/atlanta/stories/2010/08/23/daily38.html?surround=lfn
One in 10 with a mortgage face foreclosure
One in 10 American households with a mortgage was at risk of foreclosure this summer as the government's efforts to help have had little impact stemming the housing crisis.
http://www.usatoday.com/money/economy/housing/2010-08-26-mortgages-foreclosure_N.htm
Rich no more: 700,000 wealthy people wiped out by the credit crunch
It also highlights how hard the recession has hit the value of savings and investments, which may take decades to recover their value.
http://www.dailymail.co.uk/news/article-1306144/700-000-wealthy-people-wiped-credit-crunch.html
Desperate homeowners line up for mortgage modification marathon
Before dawn, with a plump white moon overhead, a line of desperate homeowners trailed around the outside of the building. They slept in beach chairs or on blankets on the ground, refugees from a bad economy, bad loans, or bad decisions.
http://www.palmbeachpost.com/money/real-estate/desperate-homeowners-line-up-for-mortgage-modification-marathon-882338.html
From Information Clearing House
--------
Chase Bank and Obama's "Make Home Affordable" Scam
http://www.commondreams.org/view/2010/08/26-0
--------
Will financial crimes perps ever face justice?
Our Future Blog
by Mary Bottari
08/26/10
Some will rob you with a six gun and some with a fountain pen — Woody Guthrie. Like mushrooms popping up in a damp basement, a slew of court settlements have been registered recently involving the big banks and their role in the financial crisis. An informal review of settlements over the last two years reveals about 16 multi-million dollar payouts from the big banks amounting to some $1.6 billion in fines and restitution and $13 billion in buybacks of auction-rate securities that were represented to be as safe as cash. Sounds impressive, doesn’t it? But when fines are stacked up against an elite white-collar crime spree worth trillions, it is a little less impressive...
http://tinyurl.com/38y8qqu
Informant: Thomas L. Knapp
http://sharenews.twoday.net/search?q=Obama
http://sharenews.twoday.net/search?q=recession
http://sharenews.twoday.net/search?q=recovery
http://sharenews.twoday.net/search?q=Treasury
http://sharenews.twoday.net/search?q=corporate+America
http://sharenews.twoday.net/search?q=Big+Banks
http://freepage.twoday.net/search?q=credit+crunch
http://sharenews.twoday.net/search?q=mortgage
http://sharenews.twoday.net/search?q=foreclosure
http://sharenews.twoday.net/search?q=housing
http://sharenews.twoday.net/search?q=homeowner
http://sharenews.twoday.net/search?q=Zach+Carter
http://sharenews.twoday.net/search?q=Michael+Hiltzik
http://freepage.twoday.net/search?q=Mary+Bottari
rudkla - 27. Aug, 09:31
