Published on Friday, March 27, 2015 by Common Dreams by Jon Queally, staff writer What could she possibly be doing right? According to exlusive reporting by Reuters on Friday, big Wall Street banks are so upset with Elizabeth Warren’s call to “un-rig” the economy and proposals for stronger financial regulations that discussions are underway about withholding campaign contributions to […]
Fannie Mae Thursday sued nine giant banks plus the British Bankers Association over some $800 million in losses due to rate-rigging manipulation
Bank of America employees regularly lied to homeowners seeking loan modifications, denied their applications for made-up reasons, and were rewarded for sending homeowners to foreclosure, according to sworn statements by former bank employees.
The government also took a dramatic step: a $25 billion settlement with the five biggest mortgage servicers.
Cheat Sheet: BofA Supplied Default Answers for u2018Independent’ Foreclosure Claims Reviewers by Paul Kiel ProPublica, Dec. 17, 2012, 9:01 a.m. The Independent Foreclosure Review is the government’s main effort to compensate homeowners for harm they suffered at the hands of banks u2014 and, as its name indicates, it’s supposed to be independent. But until recently, […]
“So they asked the bank to move a chunk of that mess from Merrill Lynch onto Bank of America’s own balance sheet. Why? Because Bank of America is a federally insured depository institution. Which means that the FDIC, and by extension you and me, is now on the hook for as much as $55 trillion in potential losses.”
Tax haven schemes cost the United States $100 billion per year. In the UK, tax dodgers like Vodafone have caused the government to enact Draconian cuts to education and public services leading to the second-biggest protest in the entire history of London, this last weekend. UK Uncut emerged from a handful of citizen groups protesting outside the stores of tax dodger, Vodafone and that has spread to America outside businesses like Bank of America.