The controversy over home foreclosures is spreading–today, the White House blog and twitter announced that President Obama would not sign a bill that could have an impact on foreclosure documents because of the ongoing problems. In a nutshell, huge numbers of Americans have found themselves foreclosed on by banks that had faulty or incomplete documents. Three major firms have actually declared freezes on foreclosures, and Congress is calling for an investigation.

But what does all this mean for most of us? Danny Schechter joins Laura in studio to explain the situation, why it’s more complicated than a few mortgages, and why it could lead to another major banking crisis. He also weighs in on the privatization of fire departments, and notes that in the U.S., “Property rights trumps human rights.” Distributed by Tubemogul….(read more)

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GRITtv, hosted by Danny Schechter, is a progressive political news program that covers a wide range of issues affecting American society. One of the key topics that Schechter has focused on is the foreclosure fraud and bank bailouts that have plagued the country in recent years.

In the aftermath of the 2008 financial crisis, millions of American homeowners found themselves facing foreclosure as a result of the subprime mortgage bubble bursting. Many of these foreclosures were the result of fraudulent practices by banks and mortgage lenders, who were taking advantage of homeowners who were struggling to make their mortgage payments.

Schechter has been a vocal critic of the banks and financial institutions that engaged in these fraudulent practices, and has called for accountability and justice for the homeowners who have been unfairly evicted from their homes. He has highlighted the stories of individual homeowners who have been victims of foreclosure fraud, and has worked to raise awareness about this issue through his program.

In addition to exposing the foreclosure fraud that has affected millions of Americans, Schechter has also been critical of the bank bailouts that were implemented in the wake of the financial crisis. He has argued that the bailouts were a massive transfer of wealth from the American taxpayers to the banks and financial institutions that were responsible for the crisis in the first place.

Schechter has called for more regulation and oversight of the financial industry to prevent another financial crisis from occurring in the future. He believes that the government should hold banks accountable for their actions and ensure that homeowners are protected from predatory lending practices.

Through his work on GRITtv, Schechter has raised awareness about the foreclosure fraud and bank bailouts that have harmed millions of Americans. He continues to be a strong voice for accountability and justice in the financial industry, and his program serves as an important platform for discussing and addressing these important issues.