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Tainted Loans: Towards A Mass Torts Approach To Subprime Mortgage Litigation, Raymond H. Brescia
Tainted Loans: Towards A Mass Torts Approach To Subprime Mortgage Litigation, Raymond H. Brescia
Raymond H Brescia
A poison has entered the financial bloodstream. The subprime mortgage crisis and the wider financial crisis it has spawned have caused the erosion of trillions of dollars in wealth, destroyed whole communities and the dislocation of millions of homeowners. Yet, unlike in other situations where toxic products have caused widespread harm, to date, we have not seen an avalanche of litigation, large jury awards, massive settlements compensating victims and financial ruin for the distributors of those products. Some of this is changing, however. Litigation arising out of the present financial crisis is hitting the courts, including suits alleging discrimination in …
Subprime Communities: Reverse Redlining, The Fair Housing Act And Emerging Issues In Litigation Regarding The Subprime Mortgage Crisis, Raymond H. Brescia
Subprime Communities: Reverse Redlining, The Fair Housing Act And Emerging Issues In Litigation Regarding The Subprime Mortgage Crisis, Raymond H. Brescia
Raymond H Brescia
As the nation struggles to find its bearings in the current financial crisis, and venerable pillars of Wall Street crumble, hundreds of billions of dollars will be spent to shore up the financial system and re-capitalize credit markets. While the eyes of Washington are directed towards Wall Street, there is much talk of the need to prop up Main Street as well, and nowhere is this more apparent than in communities and neighborhoods across the United States that have experienced the first wave of the financial crisis hit: home upon home of foreclosed properties, abandoned and neglected, their absent silence …
Sheltering Counsel: Towards A Right To A Lawyer In Eviction Proceedings, Raymond H. Brescia
Sheltering Counsel: Towards A Right To A Lawyer In Eviction Proceedings, Raymond H. Brescia
Raymond H Brescia
This Article provides an overview of the current arguments presented by advocates who seek to establish a right to counsel for indigent tenants in eviction proceedings and assesses the strength of those arguments in the current political, social, and economic milieu. It is beyond question that the overwhelming majority of low-income tenants are unrepresented in proceedings in which their homes are in jeopardy and having counsel in such proceedings often prevents eviction and homelessness. Preventing those evictions reduces the human cost of homelessness, saves government substantial money by not having to provide shelter to the homeless, and preserves the stock …
Capital In Chaos: The Subprime Mortgage Crisis And The Social Capital Response, Raymond H. Brescia
Capital In Chaos: The Subprime Mortgage Crisis And The Social Capital Response, Raymond H. Brescia
Raymond H Brescia
“Capital in Chaos: The Subprime Mortgage Crisis and the Social Capital Response,” examines the role of trust and the absence of social capital in the subprime mortgage crisis, with a particular focus on the impact of the subprime crisis on communities of color.