New Orleans Having written about the need to sever our bad codependency relationship with big banks that are daily picking our pockets, I hopefully popped up the street to the new offices of my local credit union, ASI. I had good reason to do so. Their sister organization is my landlord and ASI originally …
Month: November 2011
Accelerate Bank Transfers and Create Citizen Wealth and Reinvestment
New Orleans Credit union and community banks report the number of new accounts opening in October rose to by 13 times the normal rate of increase with over 650,000 new accounts since September 29th when Bank of America announced its (now rescinded) larcenous run on their own customer’s bank accounts through debit card fees. The …
Finally Support for Principal Reduction for Borrowers
New Orleans For not months but years, we have argued for principal reduction as the only realistic response to the foreclosure and homeowner crises in housing, and I have been clear that the main obstacle has been the collaboration between the banks that don’t want to reduce their balance sheets to reflect reality and the …