Predators: HSBC Faces Lawsuit For Targeting Minorities

By: Wednesday December 26, 2012 7:02 am

Admitted Drug Money Launders HSBC are going back to court. This time the firm will not be apologizing for helping Mexican Drug Cartels or 9/11 Hijackers evade the law but for predatory lending targeted at minorities. From the Associated Press: Three Atlanta-area counties have filed a lawsuit claiming that British bank HSBC cost them hundreds [...]

Treasury Announces New HAMP Changes With Greater Eligibility, More Principal Reduction Incentives

By: Friday January 27, 2012 12:18 pm

Hey, remember HAMP? That’s the program that was supposed to help four million borrowers lower their mortgage payments and avoid foreclosure? The one that promised $50 billion for that purpose? The one that’s actually provided temporary relief for around 900,000 borrowers, used about 6% of the money earmarked, and also the one that’s been used [...]

Chase Banker Unburdens Himself With Lament for Industry Predatory Lending

By: Thursday December 1, 2011 6:53 am

We’re at a point in US history, brought there by Occupy Wall Street, where even Republican Presidential candidates needing a boost in the polls will vow to throw bankers in jail. I don’t expect that they’d actually do it, but this is what they feel they have to say to get elected. And that makes [...]

S&P’s History of Relentless Political Advocacy

By: Monday August 8, 2011 6:10 am

I was tied up with other matters this weekend, so couldn’t offer a take on S&P’s downgrade decision. Jane has done most of the spade work here. But I wanted to make a few points. First of all, if the rating agency’s entire argument was that the political system showed itself to be “less stable, [...]

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