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the normal rate of increase with over 650,000 new accounts since September 29th when Bank of America announced its (now rescinded) larcenous run on their own customer’s bank accounts through debit card fees.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 …
Author: wade
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 …
Fox News Crosses Line with Home Address and Number
New Orleans I ran home for a minute yesterday to pick up a sweater after the rain brought a cool front into New Orleans. The phone rang. I picked it up, there was silence and then the caller disconnected. I figured it was a bad robo-dial. A minute later there was another call. The caller …