Ex-Marine Re-Occupies His Own Foreclosed Home in Fight Against Freddie Mac, JPMorgan Chase

The repeal of provisions of the Glass–Steagall Act by the Gramm–Leach–Bliley Act in 1999 effectively removed the separation that previously existed between investment banking which issued securities and commercial banks which accepted deposits. The deregulation also removed conflict of interest prohibitions between investment bankers serving as officers of commercial banks. This repeal directly contributed to the severity of the Financial crisis of 2007–2011 by allowing Wall Street investment banking firms to use their depositors' money that was held in the commercial banks.http://en.wikipedia.org/wiki/Glass–Steagall_Act

and Freddie Mac were all about stealing homes from the American people and stealing billions of dollars
using tax payer money

I hope he gets his house back
Awesome work

This story reminds me of my observations of government vs. private industry over the years. Of course, the corporatist line of propaganda is that, unlike the government, they have to compete, there fore they have to be efficient to pull a profit. Also, their workers are better because they are not protected by civil service.

All of that is horsepucky.

I've worked along side government workers while under contract to a private company. I've worked in private industry in private industry environments. Government workers match up to private industry workers; six of one is worth half a dozen of the other. The problem with both is that they're too big and too bureaucratic. And frankly, I'll take the federal bureaucracy, as bad as it is, over a large private bureaucracy. They're both woefully inefficient.

This story highlights the problems with too-big-to-fail corporations. They're apparently too big to manage. The loan department and the foreclosure department at Chase weren't talking to each other. Each didn't know what the other was doing. Mr. De los Santos was caught in the middle, being given conflicting information from too department of the same bank working at cross purposes. Even if the bank were acting entirely out of good intentions, which can't be assumed nowadays, it was still acting like a too-big-to-manage institution.

Mr. Dimon, what kind of outfit are you running?

The armed forces are realizing they are part of the 99%.

Former Marine. Ask him...