Shared sacrifice? Austerity? Not for the banks!
Elizabeth Warren and the Consumer Financial Protection Bureau have found that the big banks -- JP Morgan Chase, Wells Fargo, Bank of America, Citigroup, and Ally Financial -- have swindled struggling homeowners out of at least $20 billion by cheating, shortchanging, and outright fraud in dealing with their loans and, especially, in wrongful foreclosures. The CFPB's seven-page report is summarized by Shahien Nasiripour in the Huffington Post:
http://www.huffingtonpost.com/2011/03/28/big-banks-save-billions-homeowners-suffer_n_841712.html
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