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January 9, 2012 | LIKE THIS ARTICLE ? Join our mailing list: Sign up to stay up to date on the latest headlines via email. ...

NEW YORK (AP) -- Massachusetts sued five major banks Thursday over deceptive foreclosure practices such as the "robo-signing" of documents, potentially undermining negotiations between lenders and state prosecutors across the nation over the same issue. The lawsuit named Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and GMAC. It was filed in Massachusetts by Attorney General Martha Coakley. "We have two clear goals with this lawsuit -- one is to provide for real accountability for the role the banks have played in unlawful and illegal foreclosures, and secondly to provide for real and enforceable relief for the harm that the misconduct has caused," Coakley said in a news conference to announce the lawsuit. The lawsuit also named Mortgage Electronic Registration System and its parent company as defendants. The company, a mortgage registry database, has been accused of shoddy record-keeping in large numbers of foreclosure proceedings. Massachus...

We all need to go down and join the occupation -- and not just by "liking" it on Facebook, signing a petition or retweeting protest photos. September 27, 2011 | Photo Credit: Sarah Jaffe LIKE THIS ARTICLE ? Join our mailing list: Sign up to stay up to date on the...

Stock markets around the world are tumbling on fears that the global economy is falling precipitously and that U.S. and European lawmakers are unable to stop the bleeding. The market is at risk of the biggest weekly drop since the depths of the global financial crisis in 2008. As of 10:40 a.m. PST, the Dow Jones industrial average was down 425.22 points, or 3.8%, to 10,699.62. That followed a 2.5% drop on Wednesday. The Standard & Poor’s 500 index is off 39.09 points, or 3.4%, to 1,127.67. The U.S. declines followed sharp drops overnight in European and Asian markets, most of which fell about 5%. The worldwide sell-off followed the Federal Reserve's announcement Wednesday that it is rejiggering its holdings of Treasury bonds in its latest bid to spur the economy by lowering interest rates on everything from home mortgages to car loans. Many analysts doubt the Fed action will have any measurable effect, and investors were spooked by the Fed's bluntly worded a...

2010 Data Show Surge in Poor Young Families By SABRINA TAVERNISE Published: September 19, 2011 Recommend Twitter Linkedin Sign In to E-Mail Print Reprints Share Close Digg MySpace Reddit Tumblr Permalink WASHINGTON — More than one in three young families with children were living in poverty last year, according to an analysis of census data by the Center for Labor Market Studies at Northeastern University. Related Times Topic: Census At 37 percent, it was the highest level on record for the group, surpassing the previous peak of 36 percent in 1993, according to the analysis by Ishwar Khatiwada, an economist at the center. By comparison, the rate was about 25 percent in 2000. The economic distress among the country’s youngest families — defined as under the age of...

Home • American Jobs Act American Jobs Act "The purpose of the American Jobs Act is simple: to put more people back to work and more money in the pockets of those who are working." —President Barack Obama, September 8, 2011 Featured Videos Watch: What the Jobs Act Means for Schools President Obama believes that every child deserves a great school. Download the Enhanced Speech Graphics See what the President said in his Joint Congressional Session on 9/8/2011 See the Facts Download the Short Fact Sheet Read the Comprehensive Fact Sheet The American Jobs Act and Your Community A State By State Look at the American Jobs Act Pick your state Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Flori...

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