The Trend Seems That the Focus of the Opposition to the Foreclosure Crisis Will Shift From Street Protests to the Court Rooms in the Coming Days
Friday, April 20th, 2012
The attorney general of California Kamala Harris has brought law suit against five mega banks for their deceptive business operations. She has also opted out of the settlement talks saying that the amount was too little in proportion to the wrong done. The protestors are continuing with their movement but the focus is on the courts.
Monday, April 9th, 2012
Figures show that Michigan unemployment numbers have gone down while payroll figures have gone up. But individual cases belie the fact. Economy will be the deciding factor in the forthcoming presidential elections. The recession began earlier and ended later in Michigan than the official dates.
Thursday, April 5th, 2012
At a recent meeting of the Senate Banking Committee economists explained that the ARM loans were not responsible for the foreclosure crisis although there was a correlation between the two. A small number of these loans were foreclosed upon but not because of structural defects.
Federal Reserve Governor Thinks the Central Bank Should Fine the Services for Their Hand in the Foreclosure Crisis Raging Across USA
Thursday, March 29th, 2012
Sarah Raskin said recently that the Federal Reserve should impose fines on the mortgage servicers in proportion to the abuses that have been proved. It would deter them from repeating the acts. The servicers are largely responsible for the crisis and also for its continuation that is weakening the economy.
Both Newt Gingrich and Connie Mack had Close Links With Two of the Architects of the Foreclosure Crisis – Freddie Mac and Fannie Mae
Tuesday, March 27th, 2012
The Republican presidential candidates, Romney, Gingrich and Mack, wading in the murky waters of Florida, mired by foreclosures, are mudslinging each other. Their accusations expose that each of them directly or indirectly had links with Fannie Mae and Freddie Mac, alleged to be the chief architects of the foreclosure crisis.
The Loss Since Onset of the Foreclosure Crisis is $7 Trillion But Only $26 Billion Has been Squeezed Out of the Banks in the Settlement
Friday, March 9th, 2012
Since the onset of the crisis across America the housing sector has lost $7 trillion but the settlement amount of $26 billion is only peanuts. The programmes to help the troubled owners will be unfair on those current on their programmes but who have nevertheless seen the worth of their collateral tumble.
Monday, February 27th, 2012
The foreclosure crisis has left those in the very-poor category with very little options. The demand for affordable housing is high but supply poor. Even if the very poor pay the rent they will have very little money left for other necessities. The budget deficit has left the government immobile. A fourth of all the tenants are in the very-poor category.
Wednesday, February 15th, 2012
Presidential candidates from the Republican camp have been dropping in and out of Nevada but they have very little tangible to offer in their speeches to the residents of the state having the highest foreclosure and unemployment figures in the country. In suburban pawnshops are busy while tents pop up at night and vanish at dawn.
Thanks to the Continuing Foreclosure Crisis the Population of Homeless Students has Doubled in Maryland
Wednesday, February 8th, 2012
During the last five years the numbers of homeless students in Maryland have doubled. In some areas it has gone up even more and the trend is continuing. Foreclosures and economic downturn are to blame. The children float from one address to another and the school district has to provide transport.
Tuesday, January 31st, 2012
Speaking at southwest Florida Mitt Romney placed the blame for the housing crisis and unemployment with President Obama. Romney did not want government interference in the problem but he felt the market should be allowed to cure itself. He also linked fellow Republican Newt Gingrich with his links with Freddie Mac and Fannie Mae.