The big banks live in a parallel universe. In their universe, the financial meltdown was beyond their power to stop. The recession that left more than 1/10th of the American workforce unemployed is a shame they had little to do with. The massive government bailout of the financial system was an opportunity to make aContinue reading “Big Banks Must Step Up to Address the Revenue Crisis”
Tag Archives: halting foreclosures
Washington CAN! Holds Action Demanding Big Banks To End Foreclosures
On Tuesday, October 26th, at 11:30 a.m., more than two dozen homeowners, friends, and community members marched into Chase Bank in downtown Burien, Washington and demanded an end to foreclosures in the state. These homeowners represented just a handful of the 225,000 underwater homeowners in the state of Washington. The action, organized by Washington CAN!,Continue reading “Washington CAN! Holds Action Demanding Big Banks To End Foreclosures”
Banks and Foreclosures: Where’s the Accountability?
Over the past several weeks Bank of America, Ally, and GMAC have announced that they have will be halting foreclosures in the 23 states that require a judge to sign off on foreclosures before eviction. Did this decision come from enlightened bank management who understand what is needed to stabilize the housing market and pullContinue reading “Banks and Foreclosures: Where’s the Accountability?”