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Why Is Obama’s Treasury Dept. Perversely Siding With Big Banks Against Elizabeth Warren and the State AGs?

American families are fortunate to have Elizabeth Warren on their side, along with the 50 state attorney generals who are demanding reparations from the nation’s largest banks.

Warren, who is the temporary head of the Consumer Financial Protection Bureau (a quasi independent agency housed in the not-so-friendly Treasury Department) and these AGs are demanding justice. It’s about time.

They want the big banks to pay dearly for the fraud they’ve perpetrated on potential homeowners in the form of robo-signings, lost titles, forged documents, phantom fees, willfully mismanaged loan modifications and a slew of other ruses even Kafka couldn’t imagine. Most of these homeowners are underwater – their homes worth less than their mortgages – and many are unable to meet their payments. All have seen the value of their homes plummet.

Continue reading this article on Alternet.
looting Les Leopold is the author of The Looting of America.

Why Europe’s Laws On Vacations Are Better Than Your Wildest Dreams (and How Badly Americans Get Screwed)

Imagine this: You work 25 hours a week at the McDonald’s in Cairo, New York, and have finally earned two weeks of paid vacation. You set out on a bike trip. On the first day in the saddle, you hit a pothole and crash, cracking your collar bone. You sit on your couch for the […] Read More..

How the Federal Reserve Is Manipulating Our Kids Into Loving Wall Street

Each year the Federal Reserve sponsors a national academic competition to indoctrinate our leading high school students into revering the marvels of modern finance capitalism. Unfortunately, nowhere in that intensive program do our students learn about how the largest U.S. banks have turned the Federal Reserve into their own private piggy-bank. The Fed, through a […] Read More..

What If the Greedy Rich Paid Their Share? 8 Things to Know About Wealth and Poverty in the US

We’re far from poor — we just have a wildly lopsided distribution of wealth that makes us seem poor. America is loaded. We are not a struggling nation ready to go under. We are not facing an enormous debt crisis despite what the politicians and pundits proclaim. We are not the next Greece. Rather, we […] Read More..

5 Ways Wall Street Is Putting the Squeeze on American Students

The damage Wall Street inflicted on our educational infrastructure is growing. March 13, 2012  | The damage to our educational infrastructure is growing, according to Catherine Rampell’s chilling report in the New York Times. As state funding has dwindled, public colleges have raised tuition and are now resorting to even more desperate measures — cutting […] Read More..

How Can the World’s Richest Country Let Children Go Hungry? 6 Tricks Corporate Elites Use to Hoard All the Wealth

December 21, 2011  –  AlterNet “Squeezed by rising living costs, a record number of Americans, nearly 1 in 2, have fallen into poverty or are scraping by on earnings that classify them as low income.” “Study: 1 in 5 American children lives in poverty.” “In 2010, 17.2 million households, 14.5 percent of households (approximately one […] Read More..