November 9th, 2010, Michael Danielson  The 99ers and other people in the ever-growing lower class have long suspected that the wealthy were in some way to blame for the Great Recession, and thought they ought to pay for the Tier 5 unemployment extension and other social safety nets as part of their coming clean with society. The proof, however, is hard to pin down. The Great Recession is a complex beast. With time and understanding however, comes a lot of insight. (In large part, the information in this article is derived from the book The Looting of America by Les Leopold.) → Read More November 6th, 2010, Carlo Gabriel Simbajon  The nation’s largest banks say they could be facing rising litigation costs arising from the on-going mortgage and foreclosures scandal. In their quarterly reports filed with the Securities and Exchange Commission, Bank of America Corp. (NYSE:BAC), Citigroup Inc. (NYSE:C) and Wells Fargo & Co. (NYSE:WFC) all reported that they are facing lawsuits from investors because of losses arising from the foreclosure mess. → Read More October 20th, 2010, Michael Danielson  Have you ever noticed that it’s almost entirely the well-off people who object to the notion of the Tier 5 unemployment extension? When’s the last time you heard of someone who was just getting by — not yet unemployed, but still working hard to make ends meet — that begrudged his or → Read More October 8th, 2010, Carlo Gabriel Simbajon  PNC Financial Services Group (NYSE:PNC) is now the fourth major lender to impose a foreclosure freeze because of mounting public pressure on mortgage banks to review their foreclosure documentation procedures. According to the New York Times, a title insurer said he received a memo from PNC informing that the bank’s sales of → Read More June 30th, 2010, Anup Nair  A last minute alternative plan attempting to save the Wall Street reform bill was agreed to by the lawmakers after disagreements about taxing large banks and hedge funds could have almost certainly threatened the passage of the bill in the House when it comes up for voting later this week before the → Read More June 25th, 2010, Tim Arlington  Mortgage rates hit all time low on record, dropping to 4.69% this week from 4.75% set last week for a 30-year fixed loan, mortgage company Freddie Mac announced. Mortgage rates were lowered in the hopes of making refinance more attractive to home buyers after sales slumped in May. Scott Tennell, broker owner → Read More |
