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 …
Category: Financial Justice
Bringing Down Bank of America: Social Media or Social Movement?
New Orleans The queue to “count coup” on Bank of America and its decision to step back from stealing debit card fees from its customers is almost unseemly. We expect it from politicians, and props to Senator Durbin, VP Joe Biden, and the rest of the DC gang for the pile-on, which in fact was …
Pushing Back the Banks in the Wake of Occupy
Orleans Given all of the niggling around the impact of the Occupy Wall Street movement and its impact, it is worth raising some footnotes a little higher on the tally sheet where the results are important, but perhaps unnoticed. Take these recent developments into account. Small example, but telling is that JP Morgan Chase, perhaps …