Obama's administration turned down requests from auto parts makers for $10 billion in loans. Obama's administration favors factor closings, work force reduction and pressing low wages on workers. This is the exact opposite of the $15 trillion in loans that have been given to the financial sector because the worst offenders are "too big to fail ( Read more... )

Wall Street really has loved the loans and moola the federal government and Federal Reserve have pumped into the system. The stock market is going high, again, but that's to be expected. You give investment banks a ginormous pile of cash and they'll invest it. It's sorta their gig. Not to mention that between TALP and PPIP, the government - ( Read more... )

I recently found another absolutely predatory business practice that's arriving on the heels of the mortgage crisis. There's a firm out there called Private National Mortgage Acceptance Company - aka PennyMac. What PennyMac does is buy mortgages from the government at steep discounts - pennies on the dollar - and then presses the homeowners to ( Read more... )

Blame nebris for cluing me into this one: credit firms are making a habit of hitting up the relatives of the dead to pay their outstanding debtsI mean, what kind of sick motherfucker thinks this shit up? What kind of depraved, evil petty waste of oxygen kind of person says to themselves, "Self, what we need to do is play on the emotions of the grieving ( Read more... )