Economy

Robosigner Tries to Burnish its Image

by Anne Landman — December 4, 2011 - 9:03pm

Lender Processing Services, Inc. (LPS) of Jacksonville, Florida -- one of the most notorious processors of fraudulent home foreclosure documents in the country --  has donated 1,000 tickets for a professional football game between the Jacksonville Jaguars and the San Diego Chargers to Jacksonville Area USO. After the 2008 economic bust, LPS subsidiary DocX churned out huge numbers of fraudulent foreclosure documents for the country's biggest banks, including Wells Fargo, HSBC, Deutsche Bank, Citibank, U.S. Bank and Bank of America, which resulted in countless Americans being wrongfully thrown out of their homes. DocX hired boiler rooms full of people, some of whom were high school students, and paid them $10 an hour to fraudulently robosign the name "Linda Green" onto hundreds of thousands of foreclosure documents, and then hired notary publics to falsely notarize the fake signatures. "Linda Green" was later found to be listed as vice president of over 20 banks and multiple "Linda Greens" were featured in a 60 Minutes investigation. LPS denies responsibility for the massive fraud, preferring instead to let two DocX employees take the fall for the entire debacle. On November 28, 2011, Tracy Lawrence, a Las Vegas notary public who had agreed to testify against the two DocX employees, was found dead in her home on the day she was to testify. LPS says the ticket donation is a "perfect way for us to help the courageous members of our armed forces enjoy some much-needed relaxation and to show our continued support for the Jacksonville Jaguars and our city."

Main Source: 
4-Traders.com, December 2, 2011
News

Koch Brothers’ "Christmas Present" Up for House Vote

by Rebekah Wilce — December 1, 2011 - 8:52am
  • Topics: Banking, Corporations, Democracy, Economy, Environment

    • The U.S. House of Representatives votes soon on a series of deregulatory bills that, according to the Coalition for Sensible Safeguards (CSS), "threaten vital health, environmental, safety and financial regulations."

    Voting is expected on the Regulatory Accountability Act (H.R. 3010) and the Regulatory Flexibility Improvements Act (H.R. 527) on December 1, and on The Regulations from the Executive in Need of Scrutiny (REINS) Act (H.R. 10) next week.

    Representative Gerry Connolly (D-VA) calls these bills "an early Christmas present to the Koch Brothers, who made this Congress possible."

    Op-Ed

    As Zuccotti Park is Cleared, Congress Moves to Gut Financial Reform

    by Mary Bottari — November 15, 2011 - 11:09am
  • Topics: Banking, BanksterUSA, Corporations, Democracy, Economy

    • In the dead of night November 14, the movement to hold big banks accountable for their crimes took two major hits. Occupy Wall Street activists were swept from Zuccotti Park as radical members of Congress moved to gut funding for the Commodity Futures Trading Commission (CFTC) and advance a series of shocking proposals to roll back financial reform.

    Op-Ed

    Rove's Crossroads GPS Attacks Occupy Movement, Elizabeth Warren

    by Brendan Fischer — November 11, 2011 - 8:59am
  • Topics: Banking, BanksterUSA, Corporations, Democracy, Economy

    • Karl Rove's Crossroads GPS is running an ad in Massachusetts attacking the Occupy Wall Street movement and U.S. Senate candidate Elizabeth Warren with some questionable assertions.

    News

    Arizona Senator Recalled over ALEC Immigration Bill

    by Ben Tobias — November 9, 2011 - 3:39pm
  • Topics: Activism, ALEC Exposed, Democracy, Economy, Real Economy Project

    • Arizona State Senate President Russell Pearce lost his seat in a recall election November 8th. The vote was widely seen as a referendum on Senate Bill 1070, the volatile anti-immigration legislation introduced by Pearce, a longtime member of the American Legislative Exchange Council (ALEC).

    News

    Ohio Voters Reject Kasich Anti-Union Bill

    by Mary Bottari — November 9, 2011 - 9:57am
  • Topics: Election 2012, Democracy, Economy, Labor, Politics, Real Economy Project

    • Ohio voters dealt a severe blow to the agenda of Governor John Kasich and other anti-union governors by voting to overturn Senate Bill 5 (SB5) by a 61 to 32 percent margin. SB5 was a law championed by Kasich that would severely limit collective bargaining rights for public employees and targets public employee wages and benefits as a means to balance the state's budget.

    Op-Ed

    Walker's "Anything But Jobs" Special Session Wraps

    by Mary Bottari — November 8, 2011 - 11:00am
  • Topics: Democracy, Economy, Real Economy Project

    • Wisconsin Governor Scott Walker has promised to create 250,000 new jobs. In advance of a planned gubernatorial recall election, Walker announced last month that the State Legislature would focus "like a laser" on job creation. With his "special session" on jobs now concluded, it is clear that the legislative package had little to do with jobs and much to do with spin, special interests and the illusion of momentum.

    Who Are the 1%? You Decide

    by Anne Landman — November 7, 2011 - 3:44pm

    A new project by filmmaker Robert Greenwald's Brave New Foundation aims to shine a spotlight on the 1%, the wealthiest Americans who manipulate our democracy for their own private benefit. According to Greenwald: "We will highlight the villains in America's economic story, drawing a straight line between their actions and the broken economy we're now stuck with." The fun part is that you get a vote on who the filmaker should profile. The project, "Who are the 1%? We Film. You Decide," asks people to go to the Brave New Foundation's website and nominate their favorite one percenters. The Foundation will then make videos about the selected nominees. Center for Media and Democracy is a partner in the project, which was inspired by the Occupy  Wall Street movement. Other partners include AlterNet, TruthOut, The Nation, PoliticsUSA, Care2 Make a Difference, Free Speech TV, the Thom Hartmann program, The Young Turks and the Campaign for America's Future. Whom to choose? Jamie Dimon, David Koch, Lloyd Blankfein? There is no shortage of candidates. Nominate your favorite here.

    Main Source: 
    Brave New Foundation, November 7, 2011
    News

    Robin Hood Tax Gains Ground at the G-20

    by Mary Bottari — November 4, 2011 - 5:56am
  • Topics: Activism, BanksterUSA, Democracy, Economy

    • The G-20 meeting in Cannes got underway this week. The sunny beach resort, playground to movie stars and media moguls was an odd choice for a somber G-20 meeting. As President Obama and Treasury Secretary Tim Geithner touched down in Air Force One, the Greek government was on the verge of collapse, austerity was sweeping Europe and the future of the Eurozone in doubt.

    But the first day of talks offered a ray of hope for the entire global economy. For the first time, the 20 most powerful countries in the world sat down to discuss taxing the financial service industry. And for the first time, the U.S. blinked.

    News

    Lessons from the Original Occupation: Gina Ray, Wisconsin State Capitol Police

    by Mary Bottari — November 3, 2011 - 7:32am
  • Topics: Democracy, Economy, Wisconsin Protests

    • As Occupy Wall Street protesters and police face off in large cities and small towns across America, it is worth revisiting the positive policing relationship that was developed between protesters and law enforcement during the "original occupation" of the Wisconsin Capitol in the winter of 2011.

    On February 11, 2011, Wisconsin Governor Scott Walker introduced a bill that would limit the collective bargaining rights of public employees, require 100% voter participation in union recertification and end the state's practice of withholding and reimbursing union dues. The bill was perceived as a death blow to public employee unions and prompted massive, sustained and peaceful protests inside and outside the Wisconsin State Capitol in the winter of 2011.

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