Daily Archives: December 2, 2011


Mortage Lender GMAC Retaliates Against Massachusetts Lawsuit By Ending Most Lending In The State

Mortage Lender GMAC Retaliates Against Massachusetts Lawsuit By Ending Most Lending In The State is a brief article on Think Progress.

GMAC Mortgage, the mortgage lender of Ally Financial Inc., is exiting the vast majority of its lending in Massachusetts a day after the state sued it over its foreclosure practices. The nation’s fifth-largest mortgage originator said it “has taken this action because recent developments have led mortgage lending in Massachusetts to no longer be viable,” ratcheting up the high-stakes mortgage fight there.

I guess this is to be expected. What else can GMAC do if it can only make money by cheating its customers? It has to get out because following the laws and paying for its crimes would make the business unprofitable. That should clear the way for honest mortgage lenders to fill the vacuum that GMAC has left. These are the lenders from whom GMAC stole market share by undercutting them through cheating.

It takes strong law enforcement to make it safe for honest business people.


Arundhati Roy: The People Who Created the Crisis Will Not Be the Ones That Come Up With a Solution

The Truth Out article, Arundhati Roy: “The People Who Created the Crisis Will Not Be the Ones That Come Up With a Solution” brings a perspective from India on our Occupy movement and the conditions it is trying to fight. She also talked about what is going on in India of which I was not fully aware.

The prize-winning author of The God of Small Things talks about why she is drawn to the Occupy movement and the need to reclaim language and meaning.

AG: At the same, occupying public spaces did capture the public imagination. Why do you think that is?

AR: I think you had a whole subcutaneous discontent that these movements suddenly began to epitomise. The Occupy movement found places where people who were feeling that anger could come and share it – and that is, as we all know, extremely important in any political movement. The Occupy sites became a way you could gauge the levels of anger and discontent.



Stewart: U.S. government is world’s dumbest loan shark

The Raw Story article Stewart: U.S. government is ‘world’s dumbest loan shark’ featured the video selection below from The Daily Show.

This is a new segment for the show and is based on the fact that no one has yet been held accountable for the 2008 financial crisis.

The segment is called How The F#@k Is It That Martha Stewart Went To Jail?


If the above video does not play for you, click on this direct link.