Have you ever been victimized or terrorized in your life? What if you were given an opportunity to face your assailant? As a whistleblower, I'm quite familiar with trauma. In doing the right thing, I've faced the full retaliation machine of the corporation that is Bank of America. It wasn't easy.Click to continue
After three years of hand-to-hand combat with Bank of America over his home loan, Daniel Casper was more than ready to call in a neutral referee. So in January, the Illinois wedding videographer applied to the Independent Foreclosure Review, a program overseen by banking regulators that offers compensation to homeowners who show they were harmed by a mishandled foreclosure.Click to continue
As the dust from the financial crisis begins to settle, we learn that the lack of IRS enforcement of the mortgage-backed securities industry bears blame for the financial crisis. The financial crisis began when lenders started making bad loans on a large-scale basis in the late '90s and early '00s. Big banks purchased these bad loans, bundled them into trusts, and sold interests in the trusts to investors worldwide.Click to continue
History will judge our willingness to defend moral principles against the corrupting influence of the Wall Street capos. So far, their campaign cash and lucrative revolving-door jobs have kept them above the law, while their PR firms and personal salesmanship have largely exempted them from moral judgement in the inner corridors of wealth and power.
Chicago in the 1920s, the Chicago of Al Capone, had nothing on today's Washington D.C.
Rep. Barney Frank (D-Mass.) said that vice presidential nominee Paul Ryan's "lack of specifics" about Mitt Romney's tax plan during Thursday night's debate shows that the numbers don't add up.
"You cannot reduce rates that they're talking about and make that up by closing loopholes without hitting some loopholes that are very popular," Frank told The Huffington Post, citing the mortgage interest deduction and other deductions. "His failure to cite those is an admission there is no real way to do that."
Thing One: Busy Work: The Obama administration would really like you to know how tough it is getting with evildoers in the housing market.Click to continue
Nearly an hour into this week's Presidential debate, Republican candidate Mitt Romney made a very disturbing statement that the media overlooked, focusing instead on the shiny object he waved in front of us.Click to continue
Former bank regulator Sheila Bair cringed when President Barack Obama promised at an Arizona high school gymnasium in 2009 that his administration could save millions of homes from foreclosure.Click to continue
Daniel Herrmann, whose right hand, arm and leg were disabled in a car accident, had a good thing going at Merrill Lynch. The company gave him a left-handed keyboard and allowed him extra time between phone calls to type in information. He repeatedly earned bonuses for his performance in the mortgages division.Click to continue
President Barack Obama said in 2009 that a new program to fight foreclosures would help as many as 4 million struggling homeowners obtain mortgage modifications that would reduce their monthly payments.
The administration will not reach that goal, but data released Thursday show that it has achieved a much sadder statistic: More than 1 million homeowners have been bounced out of the program...