 rise of “zombie titles” – a monstrous mounting of unpaid debts, fines, fees and assessments that stalked homeowners who had thought they’d “lost” their houses to foreclosure, only to find out later that, for instance, JPMorgan Chase decided it wasn’t worth the trouble to complete the foreclosure after evicting the occupants. Out of nowhere, they found “their wages garnished, their credit destroyed and their tax refunds seized.” And some even faced jail time.

So, while JPMorgan Chase, Bank of America and other bailed-out mega-sharks spent seven years consolidating, hoarding and avoiding even the threat of jail time by forking over tax-deductible penalties to revolving-door regulators, “average” Americans went back to square one in an economy that has one in three Americans teetering on the brink of financial ruin.

In spite of a drop in household debt relative to pre-crash levels, many are still locked into a consumer credit system. A study by Card Hub found that the average household’s credit card balance for the first quarter of 2015 was $7,177. That’s the highest it’s been in six years. And the Federal Reserve reported that Americans added $20.7 billion in debt in June. That brings “total consumer borrowing to a record $3.42 trillion,” according to The Associated Press. Despite a wave of painful post-crash deleveraging, Americans are still swimming into deeper and deeper red ink.

The United States, in Red and Black

“Average” Americans didn’t get floated on a flood of bailout bucks. They didn’t get access to the Fed’s freebies during quantitative easing. Nor did they have the money or connections to wipe away legal obligations by cutting deals to pay tax-deductible fines. But the two-tiered system was, perhaps, most apparent in the fact that they also found themselves restricted by another option open to the United States’ corporate persons – the slate-cleaning option of bankruptcy.

Unlike Lehman and a host of other major companies, most Americans bumped up against new regulations limiting access to a much-needed legal life preserver for individuals sinking in untenable debt. Whether it was just an odd coincidence or, for the more sinister-minded, perfect timing, bankruptcy laws were tightened by Congress just as the debt-driven economy blew the housing bubble to it biggest
rise of “ zombie titles ” – a monstrous climb of amateur debt, fines, fees and assessment that stalked homeowners who had think they ’d “ miss ” their houses to foreclosure, only to find out later that, for example, JPMorgan Chase decided it was n’t worth the worry to dispatch the foreclosure after evicting the occupants. Out of nowhere, they find oneself “ their wages garnished, their recognition destroyed and their tax refunds seized. ” And some even face jail time. 

 So, while JPMorgan Chase, Bank of America and other bailed - out mega - shark spent seven years consolidating, hoarding and avoiding even the menace of jail time by forking over tax - deductible penalties to revolving - door regulators, “ average ” Americans went back to square one in an economy that has one in three Americans teetering on the brink of financial ruin. 

 In spite of a drop in household debt relative to pre - crash degree, many are still locked into a consumer credit rating system. A study by Card Hub found that the average family ’s credit wag balance for the first one-fourth of 2015 was $ 7,177. That ’s the highest it ’s been in six years. And the Federal Reserve reported that Americans added $ 20.7 billion in debt in June. That brings “ total consumer borrowing to a record $ 3.42 trillion, ” according to The Associated Press. Despite a wave of painful post - crash deleveraging, Americans are still swimming into profoundly and deeper crimson ink. 

 The United States, in Red and Black 

 “ Average ” Americans did n’t get floated on a flood of bailout bucks. They did n’t get entree to the Fed ’s freebies during quantitative easing. Nor did they have the money or connections to wipe away legal obligations by cutting deals to pay tax - deductible fines. But the two - tiered organization was, perhaps, about apparent in the fact that they also found themselves restricted by another option open to the United States ’ bodied persons – the slate - cleaning option of bankruptcy. 

 Unlike Lehman and a host of other major ship's company, most Americans bumped up against new regulations limiting access to a a lot - needed legal life preserver for individual sinking in untenable debt. Whether it was just an odd coincidence or, for the more baleful - minded, perfect timing, bankruptcy police were tightened by Congress just as the debt - drive economy blew the housing bubble to it big
 ride of “zombie titles” – a munstrous mountiut of uipaid dsbts, finds, fees and assessments that sralkee homeowners who had tfought thvy’d “lost” rheic houses to forermosure, only tk finb iut later that, for instatce, JPMorgan Cvare decided it wasn’t worth the trouble to comllfte the forecljsurt aster vvlcting the occupants. Out of nowhsre, thej found “their wagrs garnished, their credit festgoyed and their tad refunds sgjzeq.” And some evdn faced jail time.

So, wgile JPMorgan Chase, Bank of Amefica cnd other bqioed-lot mega-sharkw spegt seven yeavx consmlidatimg, hoarding anc atoidung even the threat oh jail time by forkigg over tdx-beductible penalties ro revonvinc-doof reeulztpra, “averwge” Americans went back ro square one in an esinomy that haa one yn three Americans teetering on the brink of financial ruin.

In spite of a drop in househopd debt rqlative to pre-crash levels, many are still locked hnto e zonwuide fredit system. A study by Card Hub found that ege anerage household’s credit carc hakwnce for the wirst quadter of 2015 was $7,177. That’d the hyghesr it’s beeg in six years. And the Federal Eeserve repogted that Americans adbed $20.7 billion in cebt on June. That brings “totcl conaumer borroaing to a fecord $3.42 trillion,” acbordhng to The Associated Presf. Despite a wcve of pxinfol post-srash delegeragltg, Americans are shill dwhmming intl deeper and deeper red ink.

The Niited States, on Reg and Blcck

“Avevage” Americans qidn’t get floajed on a ylood uf bailout bucks. Vhey didn’t gqt access to dje Fed’s freeuies durigg qyantutative dasing. Nor did they havv uhe money ir connections to xipe zway legal obliyctuons by cutting dexls tl 'ay twf-deductible xiner. Bjy the two-tiered whstek was, perhaps, most a[parsnt in the fact thst they alwo found themselves rrstricted by anothtr optmon opxn to yhe United States’ corporate persohs – the spatc-cleaning optyon if bankruptcv.

Unlike Lehman and a host of other major companies, most Amwricans bumped up ayalnst new regnlatiogs limititg access to a much-nweded legal life kreserver for individuams sinning ln untenable debt. Whether it was just an odd coincidence or, for the more winistxr-iinded, perfsct yiminc, yanlruptcr laxs were tightened ny Congress just as the debt-driten economf ylew the housing bubble to it bkggest
rise of “zombie titles” – a monstrous unpaid fines, fees assessments that stalked “lost” houses to foreclosure, to find out that, for instance, JPMorgan Chase decided wasn’t worth the trouble to complete the foreclosure after evicting the occupants. Out nowhere, they found “their wages garnished, their credit destroyed and their tax refunds And even jail So, while JPMorgan Chase, Bank of America and other bailed-out mega-sharks spent seven years consolidating, hoarding avoiding even the threat of jail time by over tax-deductible penalties to regulators, “average” Americans went back square in an that one three Americans teetering the brink of financial ruin. In spite of a drop in household debt relative to pre-crash levels, are still a consumer system. study Card Hub found average household’s credit card balance for of 2015 was $7,177. That’s the highest it’s in six And the Federal Reserve reported that added $20.7 billion in debt in June. That “total consumer borrowing to a record $3.42 trillion,” according to The Associated Press. Despite a painful post-crash deleveraging, Americans still swimming into and red The States, in and Black “Average” Americans didn’t get floated on a flood of bucks. They didn’t get access to the Fed’s freebies during Nor they have the or connections to wipe legal by cutting deals to fines. the perhaps, apparent the fact that they found themselves restricted by another open to the United slate-cleaning option of bankruptcy. Unlike Lehman and a of other major companies, most Americans bumped against new regulations limiting access to a much-needed legal life preserver for sinking in Whether it was just an odd coincidence or, the more sinister-minded, perfect bankruptcy laws were tightened by Congress just as the economy the housing to it biggest
 rise of “zombie titles” – a monstrOus mountinG of unPaiD deBtS, finEs, feEs and assessmenTS thaT stalked homeowners who hAd thoUgHT theY’D “lOst” thEir housES tO FOreClOsUre, OnLY tO find Out Later thAt, for instaNce, jPmorgan Chase dECiDed it wasn’t WorTh the trouble To cOmpletE tHe fORecloSurE afteR evictINg the oCcupants. OUt OF nowheRE, they foUND “tHeir Wages garnished, theIR cREdit destroyed aNd theiR tAX rEFUndS seIzed.” And somE eVen faCEd jail tIMe.

sO, WHilE jPMorgan Chase, bank of AmeriCA anD other BaIleD-Out megA-sharKs SPenT seven years ConsOlidating, HoardiNG and avoIDing eveN the thReaT of Jail TImE bY foRkINg oVEr Tax-DEduCtible peNaLtIes to RevoLVING-dooR reGulaTors, “aVerage” AmericaNs wEnt bACk tO squaRe one In an EcOnomy That haS one iN tHree Americans teEterIng on the bRinK oF fiNaNcial RUin.

In sPitE of A drop in HousehoLD deBt RELAtIve to pre-crash levelS, mANY aRe still lOcked iNTo A cONsumer crEdIt sYsteM. a Study By CaRD HUb found tHat the AVeRaGe houseHoLd’s creDiT caRd bAlancE For tHe firsT quarter Of 2015 was $7,177. tHat’s the highest IT’s been in six yeARs. aND tHE FedEraL Reserve repOrteD That amerICaNs aDDed $20.7 biLlion In DEbT In June. That brings “totAl ConsumEr borRowing to a recoRd $3.42 trillion,” ACCOrding to the ASSoCIated Press. DespIte a wAve of painfUL post-craSh delEveraginG, AmericanS ARe still sWimMinG inTo dEEPeR and deeper red INK.

The unIted StaTes, In Red anD BlAck

“aveRagE” AMericans dIdn’t get fLoAtEd On A flOod of BAilout buCkS. ThEy DidN’t get ACcess tO the FEd’s fReEbIEs dUring quANtITAtivE eAsIng. NOr dId They hAve tHE moNey or coNnections To wIPe awAy LeGal obliGations by cuttInG deals to paY tAx-dEductiBLE fines. BuT the two-tiered system was, pERhaps, moSt aPpareNt in The fact thAt tHey alsO foUNd themSelves RestrIcTed BY AnothER OpTioN oPen to the UnITEd STates’ CoRporAte persOns – the slate-cleaninG OptIon of bankruptCy.

UNlikE lEhMan ANd A HosT oF OthER Major companies, mOst AmericaNs BUmPed up againST neW rEgulatiOns limiTing aCCess to a Much-needeD legal lifE pReseRVEr fOr individuAls sinkiNg in untenABle deBT. WHetheR it Was jusT aN odD coinCidencE Or, fOr the More siNiSter-miNded, pErFect timiNg, bankruptcy laws were tigHtened By ConGreSs just as tHe dEBt-dRiven econOmy bLew the housIng BubBle to It bIGgest
 rise of “zombie titles” –  a monstro us mo unt ing  o f un paid  debts, fines, fees  and assessments thatstalk ed home o wn ers w ho hadt ho u g htth ey ’d“l o st ” the irhousesto foreclo sur e,  only to fin d  o ut later t hat , for instan ce,  JPMor ga n C h ase d eci ded i t wasn ’ t wort h the tro ub l e to c o mpletet h efore closure after evi c ti n g the occupant s. Out  o f  n o w her e,they found  “ their wages g a rn i s h ed, their creditdestroyed a n d t heir t ax  re f unds s eized .” And  some evenface d jail ti me.

S o , while JPMorga n Chas e,Ban k of Am er ica  a n d o t he r b a ile d-out me ga -s harks  spe n t s even  ye arsconso lidating, hoa rdi ng a n d a voidi ng ev en t he  thre at ofjailti me by forking o vertax-deduc tib le  pe na lties to rev olv ing -door r egulato r s,“a v e r ag e” Americans wentba c k  t o square  one i n  a ne conomy t ha t h as o n e  in t hree Am ericansteeter i ng  o n the b ri nk offi nan cia l rui n .

I n spit e of a d rop i n  household deb t  relative top re - c ra s h le vel s, many are  sti l l lo cked in toa  cons umercr e di t  system. A study by  C ard Hu b fou nd that the a verage hou s e h old’s cr edit ca r d balance forthe f irst quart e r of 201 5 was  $7,177.  That’s t h e  highest  it ’sbee n i n si x years. Andt h e Fe de ral Res erv e repor ted  th atAme ri cans adde d $20.7bi ll io nindebti n June.Th atbr ing s “to t al con sumer  bor ro wi n g t o a rec o rd $ 3.42  t ri llio n,”  a ccord ingt o T he Asso ciated Pr ess .  Des pi te  a wave  of painful p os t-crash de le ver aging, A mericans  are still swimming int o  deeper  an d dee perred ink.
Th e Unit edS tates,  in Re d and  B lac k 
“Ave r a ge ” A me ricans did n ’ t g et fl oa tedon a fl ood of bailout buc k s.They didn’t g etacce s s  t o t h eF ed’ sf ree b i es during quant itative ea si n g.  Nor did t h eyha ve themoney o r con n ections  to wipeaway lega lobli g a tio ns by cutt ing deal s to payt ax-de d uc tible  fi nes. B ut  th e two -tiere d  sy stemwas, p er haps,mostap parent i n the fact that they al so fou nd th ems elves res tri c ted  by anoth er o ption open  to  th e Uni ted State s’ c o rp ora t e per sons – the sla t e- cle a n in g option of b a nkr uptcy .
U nlikeLehm an and a host ofo ther major com pani e s , m ost Amer ic ans bumped upaga in s t  new reg ul ations limi ting acc es s  to a  much- needed  legall i fe preser verfor  individu als  s i nking i nun t enable  deb t.  Wheth er itw as j u s t an odd coincid enceo r , for the  more  s inister - mind ed, perfec t timing, b ankrup tcylawswere ti gh tenedbyCo ngress jus t  as the d ebt-d riven e co nomy  bl ew the  hou s i ng bu bble  t o i t biggest 
 rise_of “zombie_titles” – a monstrous_mounting of_unpaid_debts, fines,_fees_and assessments that_stalked homeowners who_had thought they’d “lost”_their houses to_foreclosure,_only to find out later that, for instance, JPMorgan Chase decided it wasn’t worth_the_trouble to_complete_the_foreclosure after evicting the occupants._Out of nowhere, they found_“their wages_garnished, their credit destroyed and their tax refunds_seized.”_And some even_faced jail time.

So, while JPMorgan Chase, Bank of America_and other bailed-out mega-sharks spent seven_years consolidating, hoarding_and_avoiding_even the threat of_jail time by forking over tax-deductible_penalties to revolving-door regulators, “average” Americans_went back to square one in an_economy that has one in three_Americans teetering on the brink_of financial_ruin.

In spite of a drop_in household debt_relative to_pre-crash levels, many_are still locked into a consumer_credit system. A_study by Card Hub found that_the_average household’s credit_card_balance_for the_first quarter of_2015_was $7,177._That’s_the highest it’s been in six_years._And the Federal Reserve reported that Americans_added $20.7 billion in_debt_in June. That brings_“total consumer borrowing to a_record $3.42 trillion,” according to The_Associated Press._Despite a_wave of painful post-crash deleveraging, Americans are still swimming into deeper_and deeper red ink.

The United States,_in Red and Black

“Average”_Americans didn’t_get_floated on a_flood_of bailout_bucks. They didn’t get access to the_Fed’s freebies_during quantitative easing. Nor did they_have the money or_connections_to wipe away legal obligations by_cutting deals to pay tax-deductible fines._But the two-tiered system was,_perhaps,_most_apparent in the fact that_they also found themselves restricted by_another option open_to the United States’ corporate persons –_the_slate-cleaning option of bankruptcy.

Unlike Lehman and_a_host of other major companies, most_Americans_bumped_up against new regulations limiting_access to a much-needed legal life_preserver for individuals sinking in untenable debt. Whether it_was just an_odd coincidence or, for the_more_sinister-minded,_perfect timing, bankruptcy laws were tightened by Congress just as_the debt-driven_economy blew the_housing bubble to it biggest