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How can Billion Dollar Fines be Little More Than Water off a Duck’s Back?

New Orleans   I hate to admit it, but to me a billion dollars still seems like a whole lot of money.  Unfortunately, I’m afraid saying so makes me hopelessly hide bound and old school.

            Why?

            Because the government seems to be passing out billion dollar fines like candy to banks, utility companies, oil [...]

Time for a “Silver Revolution?”

New Orleans  A couple of days ago The Wall Street Journal ran a starkly realistic and somewhat depressing story about retirees, either voluntarily or forcibly leaving their jobs, who had been planning to find new work or who needed to find work to supplement minimal pensions or social security, who were being forced to abandon [...]

Important Suit to Stop Diversion of Foreclosure Relief Funds for Other Purposes

Peterborough    Three California-based nonprofits, the National Asian American Coalition, COR Community Development Corporation, and the National Hispanic Christian Leadership Coalition sued Governor Jerry Brown and his team in California demanding replacement of $369 million obtained for the state for mortgage foreclosure relief and diverted to pay for state debts.  The suit alleges that according to [...]

Banks Shirking Responsibility for Foreclosed Property Maintenance

New Orleans  I woke up to headlines indicating that the National Fair Housing Alliance has accused Minneapolis-based U.S. Bank of effectively “red lining” blight into largely African-American and Latino neighborhoods in 35 different cities in 15 metropolitan areas.  Recently the alliance added New Orleans, Dallas, New Haven, and Hampton Roads, Virginia to an amended complaint [...]

For Tenancy to be an Alternative, Renting Has to Work

New Orleans   One of the many unresolved issues from the Great Recession, still painfully winding down, is whether or not it is time to call the dream of home ownership for low-and-moderate income families a tragic mirage.  Having wiped out a generation of increased ownership among African-Americans and Hispanic families, and lacking a concerted funding [...]

Bank Mortgage and Foreclosure Problems Won’t Go Away

New Orleans  No matter how many billions banks pay to try to whitewash their devastatingly destructive behavior in milking home owner mortgages and turning homeowners every way but loose, they can’t make the mess go away.  The stains and scandals are indelible and their refusal to change their culture or their standard operating practices guarantees [...]