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Mon., 11:12am: 10 banks agree to pay $8.5B for foreclosure abuse

January 7, 2013

WASHINGTON -- Ten major banks and mortgage companies have agreed to pay $8....

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(14)

Ihateusblues

Jan-08-13 2:33 PM

"Wonder how many people fall into foreclosure or file bankruptcy simply because they can't manage their money" <---americanpatriot said.

That's an unfair generalization of this crisis. Didn't you notice how POOR the job market is? Cause-and-effect youngster! People lose jobs = defaulting on mortgage payments. Simple math. The remark I quoted is typical republican ideology. Just because people fell behind on mortgage or bills doesn't mean that they don't know how to manage their funds. I almost had my car repossessed when Delphi went belly-up. Thank God for family loaning me money to keep up with payments. I can't imagine going weeks, let alone MONTHS without income sufficient to support what some people have been earning at their former employers. Just because people earn over $50K doesn't MEAN that they HAVE to live below poverty to meet your republican standards.

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unitedfortruth

Jan-08-13 10:21 AM

(Reuters) - "American International Group Inc , the insurer rescued by the U.S. government in 2008 with a bailout that ultimately totaled $182 billion (113.2 billion pounds), may join a lawsuit against the government alleging the terms of the deal were unfair."

LOLOLOL! BWAHAHAHAH!

AIG is suing us for bailing them out! Got to love it!

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unitedfortruth

Jan-08-13 9:03 AM

cincin and rsistance....i agree.

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unitedfortruth

Jan-08-13 9:01 AM

american patriot...i am sure their are plenty of people out there like that, yes. i agree with you 100%.

however, bankers are above the law and are getting away with massive amounts of theft and criminality of all Americans, including the crazies that still think they can live beyond their means.

HBSC just settled a lawsuit for roughly 1 billion dollars. this bank makes 22 billion a year roughly. they were accused of money laundering for major drug rings and cartels. they settled for a billion dollars. not one of their bankers is going to jail....not one.

thats amazing power. i dont do drugs, but if i went outside and lit up a lefty in front of a cop im probably getting 10-30 days in the clink. these bankers were laundering billions of dollars in drug money and paid a fine. LOL!

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AmericanPatriot

Jan-08-13 3:45 AM

Wonder how many people fall into foreclosure or file bankruptcy simply because they can't manage their money and live outside their means. It needs to be mandatory all HS seniors have a year long class of "life skills". This class will teach balancing a check book, income to debt ratio, credit card spending and abuse, etc. God knows parents are not teaching it, because they can't do it themselves.

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CommonSense

Jan-07-13 4:12 PM

And of this housing and mortgage crisis all began when Bill Clinton, Chris Dodd, and Barney Frank insisted that it was everyone's right to own a home. So they insisted that banks give out loans to illegals and people who could not afford them. And the rest is the history that we are currently living in.

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Cincin

Jan-07-13 2:20 PM

You folks at the Trib truly need to fix your filters. S u c k should not be blocked out. My goodness.

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Cincin

Jan-07-13 2:19 PM

Wells Fargo, Bank of America, Chase, and Citigroup: the filthy four. Not at all surprised they're leading the pack. Receiving up to $125,000 for being fraudulently kicked out of your home doesn't quite seem enough. I agree that they need to start locking a lot of these CEOs and loan officers up. They are like rats. You plug one hole to stop them from stealing and they soon dig another hole to*****the financial life out of people. It's amazing that the focus is on food stamps, jobs, and the government as Wall Street and the Big Banks rob working American's blind right before their eyes. So sad.

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unitedfortruth

Jan-07-13 1:55 PM

...there are 60 of these facts total.

one thing you ALL have in common here, that most of you cant grasp for some reason or another, is that we are all getting poorer...our standard of living is shrinking very quickly.

its happening to all of us.

so, run along and support your multimillionaire idol politicians....but they are letting the banks lead you directly to poverty. every single last one of ya!

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unitedfortruth

Jan-07-13 1:53 PM

While debt loads for middle class families are going up, the net worth of those same families is going down. According to the Federal Reserve, the median net worth of families in the United States declined “from $126,400 in 2007 to $77,300 in 2010“.

#16 The percentage of working age Americans with a job has been below 59 percent for 40 months in a ro

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unitedfortruth

Jan-07-13 1:52 PM

Back in the 1970s, about one out of every 50 Americans was on food stamps. Today, about one out of every 6.5 Americans is on food stamps.

#8 According to the Pew Research Center, 61 percent of all American households were “middle class” back in 1971. Today, that figure has fallen to 51 percent.

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unitedfortruth

Jan-07-13 1:51 PM

The U.S. economy continues to trade good paying jobs for low paying jobs. 60 percent of the jobs lost during the last recession were mid-wage jobs, but 58 percent of the jobs created since then have been low wage jobs.

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unitedfortruth

Jan-07-13 1:50 PM

As the middle class shrinks, more Americans than ever have been forced to become dependent on the federal government. Federal spending on welfare programs has reached nearly a trillion dollars a year, and that does not even count Social Security or Medicare. Welfare spending is now 16 times larger than when the “war on poverty” began.

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unitedfortruth

Jan-07-13 1:50 PM

According to the U.S. Census Bureau, the middle class is taking home a smaller share of the overall income pie than has ever been recorded before.

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