Posts Tagged ‘evictions’

Rio 2016: Olympic Event

August 9, 2016

Rio de Janeiro, Brazil’s largest city, prepared for the 2016 Olympics with a heroic feat of urban removal, evicting hundreds of families from the town’s poor neighborhoods, the favelas. Rio certainly didn’t win the gold medal for human rights.

More:

“2016 Olympics: what Rio doesn’t want the world to see,” Johnny Harris, Vox

“How evictions have laid bare Rio’s real Olympic legacy,” Niko Kommenda, The Guardian

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Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length.

Fast Foreclosures

September 30, 2010

Fast Foreclosures

J.P. Morgan Chase acknowledged that employees signed off on thousands of foreclosure documents without really reading them. This was in response to a sworn statement by a Chase employee that her team signed off on 18,000 foreclosures a month without proper document review. The firm just froze the foreclosure of 56,000 homes until their documents are re-examined. 

Chase is not alone. An Ally Financial document processor admitted signing off on 10,000 foreclosures a month without reading the paperwork. “That’s barely a minute per case,” notes the Washington Post‘s Brady Dennis, “assuming he works a normal eight-hour day.”

Instead of oversight, banks have “robo-signers.” Still believe that financial institutions can regulate themselves?

 Update: “Robo-Signing: Documents Show Citi and Wells Also Committed Foreclosure Fraud,” Abigail Field, AOL Daily Finance.

 

Image (“American Dream, after Grant Wood”) by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length.

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