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.
