Vol. 31 No. 2 - Summer 2003
Banking on Misery
Front Porch: Letter From the Editor
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Armed for Armageddon
Under cover of the war on terror, the Bush Administration plans to turn South Carolina into the production site for a new generation of nuclear weapons—and a new arms race. By Becci Robbins
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Introduction: The New Loan Sharks
By Michael Hudson
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PART I. Banking on Misery: Citigroup, Wall Street, and the Fleecing of the South
Millions of Southerners have been ensnared by "subprime" lenders who target consumers made vulnerable by discrimination and financial need. By Michael Hudson
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PART II. The Poverty Industry
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Perpetual Debt, Predatory Plastic
From the company store to the world of late fees and overlimit penalties, credit cards go predatory. By Robert D. Manning
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From Pawnshops to "Financial Supermarkets"
Fringe banking gains a foothold in the mainstream. By Mary Kane
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Simple Courtesy
Banks have discovered overdraft fees to be fertile ground for innovations in profit-making. By Taylor Loyal
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PART III. Fighting Back
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Journey for Justice
Citigroup shareholders confront an unfamiliar sight: the orange t-shirts of a borrowers' group determined to get fair treatment. By Michael Hudson
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Battling the Odds
Consumer advocates fight for a voice in Alabama's legislature. By Bill Barrow
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"You Can't Pass It On if It Belongs to Someone Else"
A South Carolina woman speaks out against the people who took her family's home. By Kenneth A. Harris
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Predatory Lending and the Law
How predatory lending can be attacked through legislative reform. By Keith Ernst
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Seven Signs of Predatory Lending
How to know you're being cheated.
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Resources for the Fight Against Predatory Lending
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