Baton Rouge Years into the Great Recession, after the Big Bailout, and one thing after another, there is still no relief on foreclosures, a steady attack on the still shaky, less than adequate Dodd-Frank act, lawsuits accusing most of the bailed out banks of Madoff mischief, big bank profits, and seemingly no one with [...]
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New Orleans Way back in the New York Times business section in sort of a snarky article by a ProPublica report (a nonprofit NYT outsourcer) a dangerous curtain was raised on the supposedly tough negotiations between the state attorneys general and the big banks about mortgage loan modifications. Seems on an okey-doke, wink-and-a-nod, the [...] subprime mortgage securitization New Orleans On ESPN’s Sportscenter during the seasons they have a feature called “Come on!” in which they feature unbelievable or bonehead plays. We need that in other fields of public life and politics. Reading about the efforts of banks like Wells Fargo and JP Morgan Chase along with the various [...] Paul Watson takes a bullet New Orleans On the other side of the line there’s still a whining wall about Wikileaks and the end of the world as we know it (and, yes, you atavistic Neanderthals, I do “love Wikileaks” for what they are contributing these days!), but the New Year’s Day release of [...] Orange Beach, Alabama Better late than never, the Attorney Generals of Nevada and Arizona sued Bank of America for “widespread fraud” on the bait and switch of promising that a loan modification is in progress and then foreclosing and selling the house out from under the homeowner at the same time. The Times and [...] New Orleans A harrowing article in the Wall Street Journal documented the success that bottom fishing debt collection agencies are having at ripping the last pennies from working families being crushed in court over relatively small claims. I wish this were news, but of course the story is all too familiar. The big debt predator companies [...] New Orleans In an excellent book on community building in the wake of disasters of historic proportion, A Paradise Built in Hell, Rebecca Solnit raises a number of insightful points about what she refers to as “elite panic.” In post-Katrina New Orleans we saw this all the time, the predictions of dire consequences and the [...] Boston There’s a full moon. The Saints are 11-0 and whipped the New England Patriots like a red-headed stepchild. Now the Treasury Department has announced another new strategy for dealing with foreclosures, given that nothing else has had much of a dent on the problem: shaming. I guess anything is possible these days, but [...] |
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