New Orleans Talking to community activists this week who are among the sparkplugs behind the Richmond Progressive Alliance (RPA) in Richmond, California, one of the hot topics was the investigation by the city of whether or not eminent domain might force refinancing of houses facing foreclosure that are “underwater,” where owners owe more than market …
Category: Financial Justice
Banks Continue Overdraft Rip-off
San Francisco The news that I could put in file folder entitled “banking as a criminal enterprise,” just keeps getting bigger. The Justice Department made headlines zinging two big banks, Zions and First Delaware on a settlement for billings for their profit making in facilitating fraud by telemarketers and others. I noticed that part of …
Citizen Wealth Still Reeling from Recession Unless You Are Rich
New Orleans Looking at the soaring stock market and the touts’ claims of an improving housing market and corporate profitability, I would have hoped that what I call “citizen wealth” or the average family’s overall income security would have also come back strong. So far, not so much. A big part of the problem …