Despite recent years of corrosive state politics, Wisconsin voters may soon create a new way forward by electing a public banking advocate as State Treasurer. Madison attorney David Leeper has made creating a state-owned public bank his centerpiece with an urgent sense of purpose. Ellen talks with him about his perspectives and later, on the Public Banking Report, with two prominent bankers and co-host Walt McRee about underlying bank dynamics that support the public bank option.
If you've got a mortgage, you probably assume that the folks receiving your
monthly payments are the ones holding your deed. But in Montgomery County,
PA., a dedicated Recorder of Deeds recently won a significant court battle
over the common bank practice of not recording changes in mortgage ownership
when they pool them into secured instruments for investors, stiffing local
governments of billions of dollars in fees and ruining their recorded
historical chain of property ownership. Ellen speaks with Nancy Becker and
the attorneys who pulled off this class-action local government victory.
Meanwhile, local mayors around the country have taken a formal stand for
enabling local post offices to serve their un-banked citizens who are
regularly gouged by pay-day lenders. Co-host Walt McRee speaks with Ira
Dember of BankACT about recent successes in the rapidly growing national
movement to turn post offices back into neighborhood banking centers.
A flood of foreclosures in neighborhoods, cities and towns can cause
everyone's real estate equity to plunge. Some towns would like to step-in to
protect their communities, but they can't get the mortgage notes written
down to affordable levels for contractual reasons. The solution: use eminent domain
to claim the properties for the municipality, then renegotiate them on
behalf of struggling homeowners. Ellen talks with the pre-eminent
legal mind behind the emerging eminent domain stratagem, Cornell professor
Robert Hockett, whose idea has been catching on in towns across America, including
some of the biggest.