Posts from June 2013

2 Items

Why Cities Should Use Public Banks Instead of Big Banks

by admin
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“Of all the public entities that have fallen victim to the big bank-induced economic downturn, cities have the most compelling stories of being burned. If ‘all politics is local,’ this is even more true for economics, at least where people’s ordinary lives are concerned. City budgets contain the life blood of communities. School districts, contracts […]

Bank of America Lied to Homeowners and Rewarded Foreclosures, Former Employees Say

by admin
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by Paul Kiel Bank of America employees regularly lied to homeowners seeking loan modifications, denied their applications for made-up reasons, and were rewarded for sending homeowners to foreclosure, according to sworn statements by former bank employees. The employee statements were filed late last week in federal court in Boston as part of a multi-state class […]