Hold Fast

Last year liberals found a small handful of state Attorneys General to elevate as heroes for their efforts to investigate robosigning and hold banks accountable for committing foreclosure fraud. That cohort, which eventually acquiesced to the Obama administration and got on board a very weak settlement deal with the nation’s five largest banks, included New [...]

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Cross posted at AMERICAblog Campaign for a Fair Settlement, a liberal housing group which formed to pressure state Attorneys General like California’s Kamala Harris to not agree to a bad robosigning settlement deal, has released a poll that paints a brutal picture of how voters in swing states view President Obama’s handling of the housing [...]

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Mike Konczal has a very good post on the announcement of JP Morgan Chase’s multi-billion trading loses and what it means for our legal ability to deal with Too Big To Fail banks. Konczal writes: There are two ways to look at the relationship between the Dodd-Frank financial reform framework and JP Morgan’s loss disclosure. [...]

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At Newsweek Peter Boyer and Peter Schweizer ask: Why Can’t Obama Bring Wall Street to Justice? Because he doesn’t think they did anything illegal. President Barack Obama, October 6, 2011: The financial sector is very creative and they are always looking for ways to make money. That’s their job. And if there are loopholes and [...]

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Duncan Black: I’m not sure how anyone expects “the housing market” to “recover” when buying a house now involves handing a bunch of money over to a bank which will then proceed to steal your house from you. This behavior will continue until lots of people go to jail. And that, apparently, is off the [...]

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As always, Abigail Field is a must-read in her ongoing coverage of the 49 state and federal foreclosure fraud immunization settlement. The fact that the settlement was approved by a federal judge with no hearings into it is both disappointing and truly sickening. Of course, as Field notes, the lack of transparency in this settlement [...]

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Given how little has happened with the new mortgage fraud task force, will New York Attorney General Eric Schneiderman walk away from it? I think now would be the time to start making that threat and it should be followed through on shortly thereafter.

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Matt Taibbi has a stunning report on an NYPD program put in place under Mayor Bloomberg called “Clean Halls,” which extends the already invasive and racist “Stop and Frisk” policy into the hallways of privately owned buildings, with the landlords’ permission. According to the NYCLU, which filed the suit, “virtually every private apartment building [in [...]

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Over at Naked Capitalism, Bill Black has a powerful piece in opposition to the financial deregulation bill that is misleadingly called the JOBS Act. The JOBS Act is insane on many levels. It creates an extraordinarily criminogenic environment in which securities fraud will become even more out of control. One of the forms of insanity [...]

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