Tag Archives: Mortgages

The Hustle: U.S. Files $1 Billion Lawsuit With Bank of America

Posted on October 24, 2012 at 3:00 pm by JM Ashby

Good news — the Department of Justice has filed a $1 billion lawsuit against Bank of America for selling bad mortgages to the government between 2007 and 2009. The U.S. Justice Department filed a civil complaint today in Manhattan federal … Continue reading →

Posted in Corporate Crime | Tagged , , , , | 4 Comments

Worst Persons

Posted on October 5, 2011 at 6:00 pm by JM Ashby

There’s supporting the troops. And then there’s kicking the troops in the balls. This would certainly fall in the latter category. According to a whistleblower lawsuit, some of the nation’s biggest banks, including Wells Fargo, Bank of America, and J.P. … Continue reading →

Posted in Ethics | Tagged , , , | 3 Comments

If True, This Would Be Incredible

Posted on August 5, 2010 at 3:00 pm by Bob Cesca

Reuters reports: Main Street may be about to get its own gigantic bailout. Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a … Continue reading →

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Another Recession Myth Debunked

Posted on July 9, 2010 at 8:57 am by Bob Cesca

All those poor black people who didn’t read the fine print on their balloon mortgages and ARMs are screwing everyone! IEEEEE! Or maybe not. Whether it is their residence, a second home or a house bought as an investment, the … Continue reading →

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Bankers Win

Posted on May 1, 2009 at 7:51 am by Bob Cesca

Legislation that would have allowed bankruptcy judges to renegotiate mortgages for homeowners was successfully filibustered yesterday. So not only will mortgage bankers and neighborhoods (and the broader economy) have to deal with a new glut of foreclosed homes, but families … Continue reading →

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