Mortgage Crisis
Australia: Young people list economic issues as top concern
By Oliver Campbell, December 12, 2012
A survey points to growing social distress as the global economic crisis impacts on Australia.
US suit vs. Bank of America: No criminal charges despite “spectacularly brazen” fraud
By Barry Grey, October 27, 2012
Not a single high-level banker has been prosecuted, let alone jailed, since the Wall Street crash of September 2008.
Illinois leads US in home foreclosures
By Marcus Day, October 9, 2012
Foreclosure activity in Illinois shot up 42 percent from one year ago, giving the state the highest foreclosure rate in the US.
How the government enables Wall Street parasites to cash in on the crisis
By Andre Damon, Barry Grey, February 22, 2012
As the Obama administration concludes a settlement with five major banks, quashing state investigations into rampant fraud related to home foreclosures, speculation in the mortgage-backed securities that caused the 2008 meltdown is once again picking up.
The foreclosure fraud settlement: An amnesty for Wall Street criminals
By Barry Grey, February 13, 2012
Last Thursday, the Obama administration announced its latest windfall for Wall Street—a settlement of charges of rampant law-breaking committed by banks in their rush to foreclose on families and seize their homes.
Obama administration brokers pro-bank mortgage fraud settlement
By Joseph Kishore, February 10, 2012
The terms of the agreement announced Thursday are entirely favorable to the banks, while doing little or nothing to aid the millions of people who have been devastated by the collapse of the US housing market.
Mortgage stress rising in Australia
By Eduardo Ballesteros, October 21, 2011
The Moody’s report provides a glimpse of the mounting financial distress being experienced by working class households, even before the current barrage of manufacturing job losses.
US foreclosures soar, housing prices slump
By Patrick Martin, December 31, 2010
As many as nine million American families have been foreclosed or face the threat of it in the coming year.
Four of five Las Vegas mortgages “underwater”
By Roger Herman, Therese Leclerc, November 29, 2010
Four of every five Las Vegas homeowners hold mortgages that exceed the value of their homes.
Global financial crisis leaves two million Australians in poverty
By Mike Head, November 4, 2010
Beneath the surface of the mining-led “recovery”, millions of ordinary people are suffering economic insecurity, acute financial difficulties and housing stress.
US mortgage crisis: The case for public ownership
By Tom Eley, October 23, 2010
In the face of mounting evidence of systematic fraud by leading US banks in the foreclosure and eviction of millions of families from their homes, the Obama administration continues to oppose a moratorium on foreclosures.
With White House backing, banks resume foreclosure evictions
By Tom Eley, October 20, 2010
Bank of America and GMAC announced they are resuming foreclosure evictions, after claiming they found no problems with legal documents related to home repossessions.
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