SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
To donate by check, phone, or other method, see our More Ways to Give page.
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
Fourteen months ago, Iowa Citizens for Community Improvement members and our allies from National People's Action and the New Bottom Line campaign met with Iowa Attorney General Tom Miller in Des Moines to discuss the national foreclosure investigation that he was leading.
Miller vowed to pursue a fundamental transformation of the mortgage servicing industry. He spoke like a people's champion, like someone who would "knock it out of the ballpark" and bring the banks to justice.
Fourteen months ago, Iowa Citizens for Community Improvement members and our allies from National People's Action and the New Bottom Line campaign met with Iowa Attorney General Tom Miller in Des Moines to discuss the national foreclosure investigation that he was leading.
Miller vowed to pursue a fundamental transformation of the mortgage servicing industry. He spoke like a people's champion, like someone who would "knock it out of the ballpark" and bring the banks to justice.
But after he announced the details of his settlement with the banks last week, we felt Miller had struck out.
A few reasons why:
The big banks are making big profits, while everyday people suffer.
When a small number of people can -- through fraud, deception and outright greed -- derail our economy, put our livelihoods at risk and get away with a paltry penalty, there is little to celebrate.
Thankfully, Miller's settlement did not give the banks broad immunity for other wrongdoing, leaving open the possibility for further investigation -- and prosecution.
The Obama administration, which has a lackluster record of taking on the big banks and Wall Street, needs to seize this opportunity and fight for homeowners and everyday people.
Right now, the best opportunity to hold the big banks accountable for the calamity they caused is the investigation being led by New York Attorney General Eric Schneiderman.
There are three bold steps that Schneiderman and Obama can take to move our economy forward toward recovery.
The housing market isn't going to reset itself, which will delay economic recovery for a long time.
More families will lose their homes, more equity will be lost and a generation of Americans who should be buying their first homes will now look at housing as a too-risky investment. This will undermine homeownership for years to come, as more and more property -- and wealth -- is concentrated in the hands of fewer people.
Bold action in the face of grave injustice is not counterproductive -- it is required.
If Obama and Schneiderman take these "people first" actions to deliver justice for millions of homeowners and everyday people, then maybe we'll have something to celebrate.
Dear Common Dreams reader, The U.S. is on a fast track to authoritarianism like nothing I've ever seen. Meanwhile, corporate news outlets are utterly capitulating to Trump, twisting their coverage to avoid drawing his ire while lining up to stuff cash in his pockets. That's why I believe that Common Dreams is doing the best and most consequential reporting that we've ever done. Our small but mighty team is a progressive reporting powerhouse, covering the news every day that the corporate media never will. Our mission has always been simple: To inform. To inspire. And to ignite change for the common good. Now here's the key piece that I want all our readers to understand: None of this would be possible without your financial support. That's not just some fundraising cliche. It's the absolute and literal truth. We don't accept corporate advertising and never will. We don't have a paywall because we don't think people should be blocked from critical news based on their ability to pay. Everything we do is funded by the donations of readers like you. Will you donate now to help power the nonprofit, independent reporting of Common Dreams? Thank you for being a vital member of our community. Together, we can keep independent journalism alive when it’s needed most. - Craig Brown, Co-founder |
Fourteen months ago, Iowa Citizens for Community Improvement members and our allies from National People's Action and the New Bottom Line campaign met with Iowa Attorney General Tom Miller in Des Moines to discuss the national foreclosure investigation that he was leading.
Miller vowed to pursue a fundamental transformation of the mortgage servicing industry. He spoke like a people's champion, like someone who would "knock it out of the ballpark" and bring the banks to justice.
But after he announced the details of his settlement with the banks last week, we felt Miller had struck out.
A few reasons why:
The big banks are making big profits, while everyday people suffer.
When a small number of people can -- through fraud, deception and outright greed -- derail our economy, put our livelihoods at risk and get away with a paltry penalty, there is little to celebrate.
Thankfully, Miller's settlement did not give the banks broad immunity for other wrongdoing, leaving open the possibility for further investigation -- and prosecution.
The Obama administration, which has a lackluster record of taking on the big banks and Wall Street, needs to seize this opportunity and fight for homeowners and everyday people.
Right now, the best opportunity to hold the big banks accountable for the calamity they caused is the investigation being led by New York Attorney General Eric Schneiderman.
There are three bold steps that Schneiderman and Obama can take to move our economy forward toward recovery.
The housing market isn't going to reset itself, which will delay economic recovery for a long time.
More families will lose their homes, more equity will be lost and a generation of Americans who should be buying their first homes will now look at housing as a too-risky investment. This will undermine homeownership for years to come, as more and more property -- and wealth -- is concentrated in the hands of fewer people.
Bold action in the face of grave injustice is not counterproductive -- it is required.
If Obama and Schneiderman take these "people first" actions to deliver justice for millions of homeowners and everyday people, then maybe we'll have something to celebrate.
Fourteen months ago, Iowa Citizens for Community Improvement members and our allies from National People's Action and the New Bottom Line campaign met with Iowa Attorney General Tom Miller in Des Moines to discuss the national foreclosure investigation that he was leading.
Miller vowed to pursue a fundamental transformation of the mortgage servicing industry. He spoke like a people's champion, like someone who would "knock it out of the ballpark" and bring the banks to justice.
But after he announced the details of his settlement with the banks last week, we felt Miller had struck out.
A few reasons why:
The big banks are making big profits, while everyday people suffer.
When a small number of people can -- through fraud, deception and outright greed -- derail our economy, put our livelihoods at risk and get away with a paltry penalty, there is little to celebrate.
Thankfully, Miller's settlement did not give the banks broad immunity for other wrongdoing, leaving open the possibility for further investigation -- and prosecution.
The Obama administration, which has a lackluster record of taking on the big banks and Wall Street, needs to seize this opportunity and fight for homeowners and everyday people.
Right now, the best opportunity to hold the big banks accountable for the calamity they caused is the investigation being led by New York Attorney General Eric Schneiderman.
There are three bold steps that Schneiderman and Obama can take to move our economy forward toward recovery.
The housing market isn't going to reset itself, which will delay economic recovery for a long time.
More families will lose their homes, more equity will be lost and a generation of Americans who should be buying their first homes will now look at housing as a too-risky investment. This will undermine homeownership for years to come, as more and more property -- and wealth -- is concentrated in the hands of fewer people.
Bold action in the face of grave injustice is not counterproductive -- it is required.
If Obama and Schneiderman take these "people first" actions to deliver justice for millions of homeowners and everyday people, then maybe we'll have something to celebrate.