Wall Street megabanks forced ten million people out of their homes due to the foreclosure crisis, while spending 2013 dodging the law for the blatant financial fraud that left folks homeless.
Ten banks kicked off 2013 by paying $8.5 billion to settle complaints that they improperly foreclosed on homeowners in the summer.
Bank of America was charged with rewarding employees who pushed the MOST people into foreclosure.
JPMorgan Chase rounded off the year by paying $13BN in fines to make fraud complaints go away.
That $91.44 Billion a year could go a very long way towards undoing the vast damage done by Wall Street’s megabanks that have engaged in megafraud, not to mention go quite a long way towards curbing American homelessness in general.
How insane is our Wall Street bonus situation? Wall Street bankers are running out of ideas of how to spend the money. That’s not a joke: the Financial Times publishes “How To Spend It” magazine to help stumped Wall Street bankers figure out what to do with their fat bonus checks. Megabankers might not spend too much time outside of the financial district, but we do, and we know that bankers are unbelievably unpopular right now.
So, we’re asking them to do the right thing: give their bonuses to the people they made homeless. It doesn’t take a genius to know this is good PR – it’s a win/win for the banks!
