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The cases involved (1) those taking upfront fees and/or ongoing periodic fees for services never performed, (2) those who acquired overleveraged homes with no equity who proceeded to pocket the rent from the home without paying on the existing mortgage (ie. equity skimming / rent skimming), and (3) those who engaged in the so-called foreclosure.
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This week on the JOURNAL, Bill Moyers spoke with two journalists from the progressive magazine MOTHER JONES about Wall Street’s power over Washington and why the public isn’t demanding more regulation.
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