New Orleans Angelo Mozilo help found Countrywide and ran it for years until dumping it off to Bank America. Many of the subprime and ARM products were toxic and account part of the collapse of the real estate markets and banking empires all around the Great Recession. The SEC trumped a settlement with Mozilo in …
Category: Foreclosure
Mortgage Mischief and the Need for A Moratorium
New Orleans An analyst believes the exposure for Bank of America on its foreclosure mess and incompetence could be as high as $70 billion USD. Bank stocks fell across the board. Other reports finally reveal what the slapdash servicing arms of the banks were hiring what they called “Burger King Kids” who insiders now admit …
Turning the Tide against Anti-Immigrant Enforcement
New Orleans The laugh line in the welcome to 150 organizers coming together in the “Turning the Tide” conference in New Orleans, convened primarily by NDLON (the National Day Labor Organizing Network) for immigration reform organizers who are at the sharp point of the grassroots fight against punitive enforcement, was the mention that special entertainment …