Wednesday, December 7, 2011

Foreclosure….A Moral Crisis?

So far to date, we’ve had over 1 million plus foreclosures in the United States of America. In 2010, we had over 2.9 million US properties receive foreclosure fillings. Are the Banks going mad? Would they be willing to foreclose of every American? The answer….YEP!

The robber barons have the United States on lock. They are unchecked and have no Government oversight that really means anything. Let’s take a look at the current modus operandi of our big 5 economic giants. Goldman Sachs, Merrill Lynch, Morgan Stanley, Bear Stearns and Lehman Brothers are essentially the President, Vice-President, Treasure Secretary, US Securities and Exchange Commission, and Congress.  They systematically (driven by greed) constructed and pandered derivatives using mortgage instruments to make billions at the expense of the naïve would be homeowners and quite frankly at the expense of YOU…the smart ones! Because this calamity effects all of us not just the ones who’ve had the misfortune of having lost their part of the American Dream. But who, pray tell, is still on top? Who has not had one legal charge brought up with someone having to pay? I think you know the answer…

Foreclosure-the legal process by which the mortgage holder of lien holder gains its security back! However, here’s the tricky part: The person who’s claiming or suing you for a foreclosure is not the original granter of funds. In fact, I bet in most cases that original piece of useless paper has been traded and gambled on no less than 10 times since you sat down proudly at an Attorney’s table and signed on the dotted line. Is this process legal? Folks like Congresswoman Tammy Baldwin seem to think the answer is NO!!!  The President and this administration have carted out several initiatives designed to urge the banks to work with homeowners who could be saved if their mortgages were restructured or if their principles adjusted.  Yet, not one bank has stood up to meet the President, nor you, half way.

Why not? Do you believe the Banks are hurting now? I’ll help you as you ponder, Heck No! In fact, many economists have found that they are actually making more money now than during the years of pillaging. Banks have deceived all of us. Through powerful lobbyist they control YOUR Congress and keep things status quo. They make believe it’s really their money that they are lending out. I wonder have the “Occupiers of Wall Street” figured out that if they as American People took their monies out of the banks they would inflict serious damage to their working capital? Imagine if the same 2.9 million defaulted homeowners were to pull their monies, 401K’s, pension plans, stock options and savings out of nationalized banks and placed them into credit unions? Now, imagine this phenomenon caught momentum and another 100 million Americans followed suit. Where would the power lie?

Remember when the Big 5 came to Congress and said “If you let us fail….we all fail” and they believed it?! In business we are taught that when there is a vacuum, it is quickly filled. Are you the American backbone and the homes you live in “Too big to fail”? I guess not! Come on America Let’s get organized…where are our social and economic activists when you need them?

Perhaps the lobbyist got to them too?


Milano Flascucci~