Recent Articles
It’s late 2011 and we look back to 2007, and where we are now. Mortgages were at the epicenter of the financial crisis that began in 2007 and resulted in more than $2 trillion in writedowns and losses at the world’s largest financial institutions based on data compiled by Bloomberg.
Stephen L. Baum, the foreclosure mill law firm which generated controversy recently when pictures of a past Halloween party showed employees dressed as homeless people and foreclosure victims, will close its doors, they announced today.
By TOM RAUM
Associated Press
The mortgage stupidity era is over, while demands for repayment of soured loans keeps mounting. How bad was Countrywide Mortgage, now owned by Bank of America? The bank made a guess, but those figures don’t add up. Now the bank says the figures might be worse:
China roundly condemned the United States for its “debt addiction” and “short sighted” political wrangling and said the world needed a new stable global reserve currency.