Treasury Blocks Legal Aid for Homeowners Facing Foreclosure

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Treasury Blocks Legal Aid for Homeowners Facing Foreclosure

The Nation – With the media’s laser-like focus on the Obama-Republican tax deal, here’s a story that’s underreported: the Obama Administration’s coddling of the Big Banks and simultaneous neglect of homeowners facing foreclosure.

Consider this: the recent Fed audit revealed over $3.3 trillion in emergency assistance to the banks and other corporate behemoths during the financial crisis–no strings attached. Two trillion dollars to Morgan Stanley here, $600 billion to Goldman there, throw in a little chump change for McDonald’s, GE, others–no demands to increase lending to small businesses, or modify mortgages for unemployed homeowners, for example.

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