PLEDGE NOW
Here and Now with Robin Young and Jeremy Hobson
Public radio's live
midday news program
With sponsorship from
Mathworks - Accelerating the pace of engineering and science
Accelerating the pace
of engineering and science
Friday, December 2, 2011

Massachusetts Sues Banks For Deceptive Foreclosures

Attorney General Martha Coakley at a Boston news conference Thursday (AP)

The CEO of one of the five financial firms sued Thursday by Massachusetts for illegal and deceptive foreclosure practices is saying he’s disappointed by the lawsuit.

John Stumpf, of Wells Fargo, told CNBC that his firm had been negotiating with other state attorneys general to reach an agreement on home foreclosures.

But Massachusetts Attorney General Martha Coakley said that it was time to launch the first major legal action against Wells Fargo, Bank of America, JP Morgan Chase, Citigroup and GMAC. She said it’s been more than a year since states began investigating deceptive and sloppy foreclosure practices by banks.

“They’ve had more than a year to show they’ve understood their role, and the need to show their accountability for this economic mess,” Coakley said. “And they’ve failed to do so. That’s why we are filing suit.”

Guest:

  • David McLaughlin, reporter for Bloomberg News

Please follow our community rules when engaging in comment discussion on this site.
Spotlight

Peter O’Dowd follows the route of Abraham Lincoln's funeral train 150 years ago, to look at modern-day race relations and Lincoln's legacy.

Robin and Jeremy

Robin Young and Jeremy Hobson host Here & Now, a live two-hour production of NPR and WBUR Boston.

May 21 5 Comments

YouTube Sensation Publishes Her First Cookbook

Maangchi's career was born when her son suggested she start making videos of herself cooking Korean dishes.

May 21 17 Comments

UC’s Napolitano Speaks Out On High Cost Of Public Ed, Anti-Semitism On Campus

Janet Napolitano talks about a plan to freeze in-state tuition, and campus protests against Israel's occupation of the West Bank.

May 20 Comment

‘Finding The Good’ Through Obituary Writing

Journalist Heather Lende has been writing obituaries in the small town of Haines, Alaska, for 20 years.

May 20 3 Comments

Pandas’ Bamboo Diet May Endanger Them

New research examining the genetics of panda waste shows they would be better suited to eat meat than plants.