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Showing blog posts tagged with big banks

Big Banks Still Giving Homeowners the Runaround

Big Banks Still Giving Homeowners the Runaround

Today, a report released by the Mortgage Settlement Monitor confirmed that big banks are still not up to the task of handling mortgage modifications effectively and fairly. This report confirms what many working families have learned the hard way: Big banks are still giving homeowners the runaround.

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Big Banks Agree to Settle Charges of Foreclosure Abuse

Illustration by outacontext/Flickr

Ten of the nation’s largest banks agreed earlier this week to settle charges of foreclosure abuse with federal regulators. After the housing bubble burst, banks allegedly processed foreclosures improperly and mishandled homeowners’ applications for mortgage modifications. The resulting foreclosure crisis hurt all working families. Homes lost value, especially in communities of color that were among the hardest hit.

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You Are Now Entering the Mallory Factor Spin Zone

Photo by eyewashdesign A. Giolden/Flickr

After Mallory Factor appeared on "Morning Joe" this morning, Jeff Hauser sends us this report.

What type of person comments on a generation of declining union membership and increasing inequality and blames unions?

What type of person looks back at America’s economy—after decades of deregulation followed by economic bubbles and misery for the 99% of people who work hard for a living—and blames unions?

It takes someone who combines an ear for dishonest public relations spin with a large wallet linked to the continued enrichment of Wall Street tycoons.

Mallory Factor is someone who understands that the banking industry’s bad reputation for destroying the world’s economy requires a diversion, a scapegoat. That he would write a book focusing on blaming unions, rather than his Wall Street peers, is entirely

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Citigroup’s Ex-CEO Reverses Big Bank Stance

In a surprising change of heart, the ex-CEO of Citigroup, Sandy Weill, backed off his former position that there is nothing wrong with Big Banks.

Politico reports:

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J.P. Morgan's Losses Say: Banks Need Regulation

A bad gamble by J.P. Morgan resulting in a quick $2 billion loss has raised the specter of the financial crisis of 2008, when Big Banks ruined the economy and caused the recession, high unemployment and housing problems that still dog the nation. Fully enacted financial reform can't come too soon.

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Trumka: Foreclosure Settlement ‘First Step’ to Housing Crisis Solution

The $25 billion foreclosure settlement with five of the nation’s biggest banks, announced this morning by federal and state officials, is a “step in addressing the housing and foreclosure crisis that plagues our country,” says AFL-CIO President Richard Trumka.

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Hundreds of America Wants to Work Week of Actions Nationwide

Union members joined Occupy St. Louis protesters and community activists for a more than 1,000- strong march and rally through downtown as part of the AFL-CIO’s America Wants to Work National Week of Action.

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